Will the 1974 -75 sad Fort Lauderdale real estate story be repeated?

 

 

Downtown Fort Lauderdale 2025

By Jane Feehan 

Fort Lauderdale has seen several building busts and booms since World War II.

A review of 1974-75 news stories offers both similarities to and differences from today’s housing picture. 

A national recession coupled with an energy crisis played a role in Fort Lauderdale’s housing prospects, but local factors take center stage in this summary.

This is not to be considered an economic analysis.

1974-1975

• 1974 “brought a halt to one of the biggest building and real estate booms in the area’s history.”
• The area had seen five construction downturns since World War II; the 1974 slump was viewed as the worst.
• Interest rates across the nation rose to over 11 percent. Congressional spending was reported “as greatly responsible for today’s double-digit inflation.”
• South Florida newspapers reported “too much building going on.” One analyst claimed more units were being built than could be absorbed by population; the “absorption rate was key to the health of the construction industry.”  Some condo and rental building projects plunged into financial straits.   
• Adding to the condo glut were speculators unloading multiple units at the same time. 
• Few visited condominium models at sales centers. Some rental buildings were only half occupied. Developers thought about converting some buildings into condos but reversed plans as the condo market worsened. A few developers rented out unsold condo units.
• Construction of single-family homes stood at a fraction of new condo and rental units built.
• Thousands of construction workers were laid off. Area unemployment in 1975—over 18 percent—exceeded that of the state and nation.
• The number of Broward County’s condo units increased 122 percent by 1974. The steep trajectory began in 1973.
• Even before 1973 the list of Fort Lauderdale new condo buildings was impressive. New condos opened as reported by Fort Lauderdale News:

1970: Birch Crest, Marine Tower, Royal Mariner; Regency Tower South and the Venetian;

1971-mid 70s: Riviera, Shore Club; Point of Americas; Embassy Towers; Plaza South.

• By 1975 other problems hit the condo market: Construction and safety concerns; recreation leases and confusing regulations and restrictions. Condo sales were still down by the end of 1975.                                  See below for 2024-25 

   

Downtown Fort Lauderdale 2023

 

2024-2025

Though numbers for late 2024 and 2025 Fort Lauderdale and Broward County are not in yet, some comparisons prove noteworthy.

• Interest rates, though lower than they were during 1974-1975, are higher than in recent decades; they are expected to be about 6.3 percent or a bit lower by the end of 2025, driving many to rentals instead of condos or single-family dwellings.
• Many today blame Congressional spending for inflation woes.
• The condominium market is flat while single-family dwelling sales are up. Condos are not selling because of high special assessments to bring buildings up to new standards required by law after the Surfside condominium collapse in 2021. The law also requires increasing condo reserves for repairs, another financial obstacle for condo buyers.
• The Florida Chamber of Commerce reported in early 2025 that the number of new Florida residents was nearly equal to those moving out of the state in 2024, reversing a trend that hit a high for newcomer traffic in 2021-22.
• Broward County unemployment rate in March 2025 (unadjusted) stands at 3.4 percent.
• Ten-X.com published a report in early 2024* that indicated Fort Lauderdale saw the highest rental vacancy rate since the beginning of 2023. It was also reported that most new rental buildings focus on building apartments with an average rate of $2,400+ per month for a one-bedroom apartment.
• The 2024 rental building construction wave is expected to continue until at least 2026. Ten-X also reported that apartment fundamentals softened in 2024. Vacancy rates in Fort Lauderdale at four-and five-star buildings stand at 9.8 percent.
• Another company reports the vacancy rate in downtown Fort Lauderdale averages across all rental buildings 4.9 percent. Pompano Beach reports a 3.8 percent vacancy rate; southwest Broward and Coral Springs report a 4.9 percent vacancy rate.
• A vacancy rate over 10 percent indicates low demand (or overbuilding?). It is interesting to note that the vacancy rate in the Cape Coral-Fort Myers area was at 15.3 percent in 2023, the highest vacancy rate in the nation that year.
• New construction and vacancy numbers vary according to the year, the quarter and the publication. Varying reports claim 10,000-14,000 units going up in the next year or so in the Fort Lauderdale area.

Numbers for 2024 and 2025 will reflect economic and political uncertainty. Many factors differ from 1974-75 while some ring familiar. Let’s hope the 1974-75 story does not repeat.

 

Sources:

Fort Lauderdale News, May 30, 1974

Fort Lauderdale News, June 1, 1974

Fort Lauderdale News, July 11, 1974

Fort Lauderdale News, Nov. 19, 1974

Fort Lauderdale News, Sept. 7, 1974

Fort Lauderdale News Jan. 16, 1975

Fort Lauderdale News, Jan. 22, 1975

Fort Lauderdale News, Nov. 22, 1975

Sun-Sentinel, Feb. 7, 2025

U.S. Census Bureau Construction Coverage

*TenX 2024 Knowledge Center: Jan.11, 2024

Matthews Real Estate Services: Matthews.com, Broward County, Sept. 18, 2024

 

Tags: Fort Lauderdale building, Fort Lauderdale developments, overbuilding

Sign of those times, the Space Satellite Hotel, Pompano Beach

Pompano Beach 2024

 Space Satellite Hotel

Once at 1450 So. Ocean Blvd. Pompano Beach (now Lauderdale-by-the-Sea)

By Jane Feehan 

The space race between the United States and the Soviet Union was in full orbit by the late 1950s. The U.S. announced plans in 1955 to launch the first satellite* into space, but the Soviets launched the first one Oct. 4, 1957, kicking off competition and sparking imaginations across the globe.

Explorer 1 - U.S launched
Jan. 31, 1958 
NASA, Public domain, via Wikimedia Commons

Broward County builder Otto Milbrand incorporated a space theme in his plans to build a new ocean front hotel in 1959 at 1450 South Ocean Boulevard in Pompano. Construction began in July 1959 for an unusual building—perhaps “one of the most unusual in the country”— according to Milbrand.

The 60-room hotel, designed by Boca Raton architect Carl A. Petersen, featured a 36-foot- high dome. Walls in the dome depicted a moonscape of mountains and water flowing from ceiling to floor. A twinkling Milky Way scene from above added to “weird surroundings designed to represent life on the moon.”

Three levels within the dome held a lounge and two dining areas, according to reports, for more than 200 guests. The bar area or Outer Space Room held seating for 80. Blue carpeting with planets, the sun and, of course, the moon and a satellite, greeted hotel and dining guests.

Space Satellite Hotel opened in January 1960. The hotel was popular with vacationers and a long list of area civic clubs for dining and special events. Summer newspapers advertised “Out-of-this World” vacation packages. Double occupancy on weekends included two dinners, two breakfasts and two cocktails per person for $16.95.

A resident of Lauderdale-by-the-Sea at the time, Cindy Geesey, remembers it well.

"I remember going there when I was about 14 to 16. Television host and funny man Durwood Kirby's mom stayed at the Space Satellite often. I met all the entertainers who played the Dome back in the day and dated Kirby's son.  It was quite the place for this teen!"

Maybe the hospitality business was not for Milbrand. Or a bigger profit could be made selling the place in an area growing in popularity with real estate developers. Whatever the reason for Milbrand selling the hotel, businessman Gene Harlan purchased the Space Satellite Hotel in November 1964. He expanded its footprint to include property he bought adjacent to and south of the hotel. He also had plans for entertainment.

Restaurateur Jimmy Fazio of Fazio’s Fireside Steak Ranch and other dining establishments took over management of Space Satellite’s food and beverage operations and added entertainment. He installed a dance floor, booked music acts like Les Paul and kept doors open until 4 am. Fazio also brought his chef, Alex Rondeau, from his steak place on Las Olas to present a similar menu.

Ownership changed hands again in January 1965. Harlan sold the Space Satellite to Dean Vezos and leased its land to Vezos for 99 years. Vezos owned the Sherwood Motel and Tale O’ the Tiger on Federal Highway in Fort Lauderdale. He also owned and operated Ranch House restaurants in Broward County.

It wasn’t known if Fazio planned to continue to lease the dining and beverage operation when the hotel sale was announced but ads appeared in local papers that he booked entertainment for March 1965. But, by late March it was reported by Fort Lauderdale News that Fazio had recently “relinquished his food and beverage” lease. (see index for more on Fazio and his restaurants).

By 1965, local interest in the space race theme seemed to have waned. Vezos had other plans for the Space Satellite Hotel. He refurbished it with a “Pan-American theme” and renamed it the International hotel.

Today the Surf Rider Resort sits near the old hotel site and the Europa By-the-Sea condos at 1460 South Ocean Boulevard lies to its south.

Though interest in the space race receded through the decades, a resurgence in popularity grows with each SpaceX launch (and rescue mission) and Elon Musk’s vision of a Mars landing. Maybe someone will open an interstellar entertainment venue with a life-on-Mars theme one day. Elon?

* The Soviet satellite was about the size of a basketball. The U.S. successfully launched its first satellite, Explorer 1 Jan. 31, 1958 pictured above. It was about three or four feet long.

Sources:

Fort Lauderdale News Aug. 15, 1959

Fort Lauderdale News, Jan. 9, 1960

Fort Lauderdale News, July 20, 1960

Fort Lauderdale News Nov. 13, 1964

Fort Lauderdale News, Dec 23, 1964

Fort Lauderdale News, Jan 19, 1965

Fort Lauderdale News, Feb. 3, 1965

Fort Lauderdale News, April 9, 1965

Tags: Space Satellite Hotel, Pompano Beach hotels, Pompano Beach in the 1950s, Pompano Beach in the 1960s Ranch House restaurants, Sherwood Motel

Riviera Isles off Las Olas - brisk sales, a hotel and a hard landing after the Great Hurricane

 

Riviera Isles 1996, State Archives of Florida

By Jane Feehan

To some, Fort Lauderdale is known as a modern Venice. Finger islands bordered by canals off Las Olas Boulevard gently suggest images of that beautiful city in Italy. The area was the vision of early Fort Lauderdale developer W.F. Morang who began the dredging process during the early 1920s.

Where he left off other developers continued. One of those islands, Idlewyld, adjacent to the Las Olas Bridge, was successfully developed in 1924-25 by pioneer M.A. Hortt, his business partner Bob Dye and new man in town, Thomas Stilwell.

Encouraged by the success of Idlewyld, Stilwell headed the Fort Lauderdale Riparian Company and bought a few parcels of land near that project. His company placed 270 lots for sale in March 1925 in what became Riviera Isles: Flamingo Drive, Solar Isle Drive and Isle of Palms Drive or Southeast 25^th Avenue. Lots were priced from $4,000 to $15,000. Every lot offered a waterfront vista, newspaper ads declared.

All 270 lots, according to the Fort Lauderdale Daily News in May 1925, were sold in less than two months. Resales ensued. One real estate speculator advertised a cash offer for three lots in Riviera Isles.

With $1.4 million in total sales of those lots, work began on dredging. They pumped two feet of sand onto the Riviera finger islands to raise each to the level Idlewyld sat—five feet above the high tide mark. They then installed roads, lighting and other infrastructure.

Perhaps the most interesting chapter in the Riviera Isles story was the one about Hotel Riviera or Riviera Hotel. With an estimated cost of $500,000, the 200-room guest accommodation was to be constructed in the Dalmatian style of architecture with small bricks and dome-like roofs featured in Romanesque churches. The ornate structure would face Las Olas Boulevard and its Sunset Lake. The hotel was expected to open October 1, 1926.  

What wasn’t expected was the Great Hurricane of September 1926. Stilwell and his company tried to regain financial footing in the months and few years that followed. Hotel plans never reached fruition. Properties throughout town were auctioned off to pay taxes during the late 1920s and into the 1930s. The real estate boom went bust.

By the 1940s a few Riviera Isles houses built in the slow years sold for $21,000 to about $40,000. A building and development boom followed in the 1950s with very little slowdown since.

Houses today in this exclusive area (most all the Las Olas isles) run as high as $20,000,000, or more. Let’s hope these land-filled islands with their beautiful homes survive a Cat 5 hurricane; some predict they won’t.  

Sources:

Hortt, M.A., Gold Coast Pioneer. New York: Exposition Press, 1955.

Fort Lauderdale Daily News, March 19, 1925

Fort Lauderdale Daily News, May 20, 1925

Fort Lauderdale Daily News, June 2, 1925

Fort Lauderdale Daily News, Aug. 12, 1925

For Lauderdale Daily News, Oct. 31, 1925

Fort Lauderdale Daily News, Nov. 21, 1925

Fort Lauderdale Daily News, Feb. 23, 1927

Fort Lauderdale Daily News, April 20, 1928

Fort Lauderdale Daily News, June 25, 1930

Tags: Fort Lauderdale in the 1920s, Las Olas Boulevard, Las Olas isles, Riviera Isles, Fort Lauderdale communities

Fort Lauderdale - farm or beach?

 

By Jane Feehan

High hopes for farming helped fuel Fort Lauderdale’s early growth.

The first big wave of investors came to the rural town in 1911 for a lottery sale of lands belonging to one large property owner, Richard Bolles. For some, interest in the sale was driven by hopes of reselling acreage for profit. Others saw potential for farming, but expectations diminished a few years later when attempts to drain the Everglades failed.

Land developers led the charge to Fort Lauderdale a decade later. They correctly assumed many would be interested in moving to the area and buying property to live on for a variety of reasons. Miami continued to attract new residents after Henry Flagler extended his railway to Miami from Palm Beach in 1896; similar growth was possible in Fort Lauderdale.

But farming remained top of mind. A report from the Fort Lauderdale Chamber of Commerce underscored continued agricultural interest. During the month of October 1924, the chamber received more than 2,000 queries from all over the U.S and around the world about farming in Fort Lauderdale’s sunshine. 

The city hadn’t funded an advertising campaign anywhere other than in The Times-Union newspaper in Jacksonville but the queries kept coming. Other towns—Melbourne, Fort Myers, Fort Pierce, Sarasota and Davie—actively solicited farming entrepreneurs and investors and set aside money to pay for ads throughout the nation. The focus on farming in Fort Lauderdale waned as newcomers saw the potential of its beaches and riverfront, but farming dominated neighboring towns like Dania, Hallandale, Deerfield Beach and many other parts of the state.

By 1925, the Fort Lauderdale Daily News claimed the state’s sunshine was a factor in health and also “a source of power.” State farming statistics demonstrated that power: Florida had 35,000,000 acres of land and 6,000,000 acres of farms. The cultivation of 2,500,000 acres in the state produced 84,000 rail cars of fruits and vegetables; 15,000,000 bushels of cereals, beans and peas; 125,000 tons of hay; 4,500,000 pounds of tobacco and 2,000,000 pounds of pecans. Farmers could count 250 crops that would grow well in the state.

A look at the last two decades  provides a comparison in crops. In 2022-2023 the USDA Agricultural Statistics Services reported 44,400 farms across a total of 9,700,000 acres produced 51 percent of the nation’s Valencia oranges, 20 percent of U.S. bell peppers and 18 percent of “fresh market tomatoes.” Florida ranks 16^th among all states in the number of farms, and 29^th in farmlands. It’s first in the nation for Valencia oranges, sugarcane, watermelons and sweet corn. 

Notably, citrus value has declined from $636,747,000 in 2017-2018 to $193,949,000 in 2022-23. Recent reports indicate another nosedive in citrus dollars is expected for 2024. (Search index for “Where Have Florida’s Oranges Gone?”)

Though this beachside town drifted away from agriculture, the notion of farming helped grow Fort Lauderdale’s name recognition. Our "power" today  derives from oceanside and waterway real estate, as does much of South Florida. If there were no New River would we have the downtown skyline and congestion?

Sources:

Fort Lauderdale Daily News, March 19, 1925

Fort Lauderdale Daily News, July 23, 1925

Fort Lauderdale Daily News, Aug. 4, 1925

USDA National Agricultural Statistic Services

 Copyright © 2025. All rights reserved. Jane Feehan

Tags: Fort Lauderdale history, Fort Lauderdale in the 1920s, Florida agriculture, Jane Feehan

Fort Lauderdale 2024

 

Fort Lauderdale's Las Olas bridge, the Dwight L. Rogers Memorial Causeway

 

Las Olas bridge view from Idlewyld neighborhood 2024

By Jane Feehan

Fort Lauderdale’s population grew from 17,996 in 1940 to 36,328 residents in 1950*. Along with this expansion came infrastructure woes. Newspapers pointed to several traffic bottlenecks including at the bridge built in 1917 from Las Olas to the beach. It was time for a new structure to ease traffic snarls.

A permit was applied for by the state’s road department from the U.S Department of the Army in January 1956. By May that year, bids were solicited for a new four-lane bridge. Final decision was made on a bid for $1.5 million for a span of 1,095 feet. It would sit at 24.7 feet in a closed position above high-tide waters. Separate bids went out for the east and west approaches to the new structure and included two five-foot sidewalks for less than $20,000. A channel would be cut through a small island in the Intracoastal for the structure (the entire island was eventually removed).

Though steel for the new structure began to arrive in 1957, builders soon faced a short-lived shortage. Limited supplies resulted from a nationwide post war building boom. Despite the delay, the bridge was finished five weeks early in August 1958 for $1.2 million.

Bridge opens in 1958,
State Archives of Florida

Discussions about a garage versus a surface parking lot ran concurrently with bridge construction. Some wanted a multi-use garage with offices and retail at ground level and an area dedicated to recreational activities on the roof. The city settled on a surface lot on the bridge’s east side. (The garage concept re-emerged in subsequent decades resulting in the structure at Seabreeze and Las Olas that opened in 2018 and was completed in 2020 for about $21 million).

The old bridge remained in use until the new one was completed in 1958. The Las Olas bridge opened August 26, 1958. A formal dedication was held September 6, 1958. Public officials were on hand including a group aboard a yacht owned by Bernie Castro of Castro (convertible sofa). Music was provided by the Fort Lauderdale High School Band. The widow of U.S. Representative Dwight L. Rogers for whom the bridge was named, cut the ribbon and pulled a lever to raise the bridge as part of the ceremony.

How many times have we crossed that bridge—and others—bearing the name of an official or notable resident without knowing it’s the official designation of the bridge?

Naming background

Florida Department of Transportation’s designation of certain roads, bridges or other transportation facilities is a “long-standing practice in Florida.” A designation must be made according to statutory requirements and procedures. FDOT pays costs related to signage (as of 2011). Dwight Laing Rogers (1886-1954) moved to Fort Lauderdale in 1925 and served as United States Representative (D-FL) four terms 1945-1954.

The Dwight L. Rogers Memorial Causeway includes the bridge approaches and bridge. Most refer to it as the Las Olas bridge. Now you know where this memorial causeway sits.

Bridge update

The bridge underwent significant rehabilitation in 2013 for about $9 million (some sources report $5.8 million).

Copyright © 2025. All rights reserved. Jane Feehan

 Sources:

 *George, Paul S. Meeting the Challenges of Growth: Road and Bridge Building in Post WWII Fort Lauderdale. Broward Legacy.

Florida Department of Transportation

Fort Lauderdale News, Jan. 12, 1956

Fort Lauderdale News, April 1, 1956

The Miami Herald, July 18, 1957

The Miami Herald, Oct. 31, 1957

The Miami Herald, Dec. 5, 1957

Fort Lauderdale News, Aug. 16, 1958

Fort Lauderdale News, Aug. 26, 1958

The Miami Herald, Sept. 7, 1958

The Miami Herald, Sept. 22, 1958

Tags: Las Olas bridge, Fort Lauderdale in the 1950s, Rep. Dwight Laing Rogers

 

Fort Lauderdale in the news 1950 - surprises and …

 

Fort Lauderdale

 

A fast-growing city in 1950, Fort Lauderdale began to capture the attention—and headlines—of northern newspapers. Some news came courtesy of public relations initiatives. Other items raised interest because the city was gaining popularity among potential tourists as well as entrepreneurs looking for new opportunities.

Below is a synopsis of stories published in New York and Chicago in 1950. They involve a female baseball player, tourism, gambling, shopping and weather.

Baseball:

Steve Calder, owner of the Fort Lauderdale Club of the Class B International League (a men’s team), and club official James Hunt, attempted to acquire female first-base phenom Dorothy Kamenshek, 26, from the Illinois-based Rockford Peaches All-American Girls’ Baseball League. Calder’s bid to buy out her contract failed when her team said they couldn’t afford to lose her. Some said she was good enough to play in “organized baseball.”

Tourism and economy:

A record-breaking building boom raised $20,000,000 in permits for construction of 122 “apartment houses” and seven hotels.

Tourist entertainment or sightseeing venues included: Bahia Mar (in its second year), shuffleboard tournaments, boat trips throughout city canals, including a visit to the “Jungle Bird Farm”; a new 18-hole golf course and an annual fishing festival. Hotel rates started at about $13 on the beach and hotels downtown at about $10.

About 100,000 vacationers visited Fort Lauderdale in 1950 (in comparison, Port Everglades alone currently sees 4 million a year coming through for cruises).

Gambling:

The Kefauver Committee on Crime heard testimony about Greenacres, a gambling joint on “the outskirts of Fort Lauderdale” owned by Frank Erickson.

Former Fort Lauderdale Sheriff Walter Clark and his brother Robert, once his deputy, were indicted on gambling charges. They were charged with allegedly owning slot machines and operating a lottery. Florida Governor Fuller Warren had removed Clark from office after hearing testimony from the Kefauver Committee.

Shopping on Las Olas:

In May 1950 it was announced that for the “first time in the history of Fort Lauderdale,” shops would remain open year round. The city expected its busiest summer season that year.

Weather:

It was reported on January 1, 1950, that 16 inches of rain the last week in December, caused $1 million in damage to crops near Fort Lauderdale in the Broward County “Everglades winter vegetable area.” One storm saw gusts up to 46 mph.

A look back tells us that news about Fort Lauderdale rings the same bells in different ways.

Sources:

Chicago Tribune, Jan. 1, 1950

Chicago Tribune, Jan. 8, 1950

Daily News, Jan. 8, 1950

Chicago Tribune, Feb. 26, 1950

Daily News, March 31, 1950

Chicago Tribune, May 28, 1950

Staten Island Advance, Aug. 4, 1950

Daily News, Aug. 19, 1950

Daily News, Dec. 4, 1950

Tags: Fort Lauderdale in the news 1950, Fort Lauderdale history, Fort Lauderdale tourism, Fort Lauderdale in the 1950s

 

Coral Springs, once green beans and cattle but no springs

 

Coral Springs in 1977, State of Florida Archives

By Jane Feehan

Broward County pioneer Henry L. Lyons arrived in Florida during the early 1900s with plans to farm and assess other opportunities. About 100 settlers lived in  northern Broward County then.

Lyons (1893-1952) a Valdosta, Georgia native, looked west, toward the Everglades, as many new settlers did, for an income source. The rich, dark mucky soil of that area held promise for growing vegetables.

Lyons accumulated about 20,000 acres over the years. He built canals and installed pumps to accommodate his growing green bean farm. According to The Palm Beach Post (Aug. 27, 2020), Lyons dedicated 4,000 acres to growing green beans and was thought to own the largest bean farm in the United States at one time.

But Mother Nature altered farming plans of some and launched plans of future developers.

Two September hurricanes in 1947 flooded crops throughout South Florida. What became the South Florida Water Management District drained areas that later included Coral Springs. Lyons shifted gears to cattle ranching. He dominated that Florida industry for a few years, and became a member of the Broward County and the National Cattlemen's Association.

South Florida and Broward County grew at leaps and bounds during the 1950s and 1960s attracting developers, builders and real estate entrepreneurs. A few years after Lyons died (1952), his family wanted to sell off their land holdings.

Coral Ridge Properties (CRP), founded by James S. Hunt (d. 1972) and Joseph P. Taravella (d. 1978), saw gold in western Broward County. A high-profile, successful real estate development company, Coral Ridge Properties had scored a few notable land deals in the eastern part of the county, including the purchase of Galt Mile and also what became known as Coral Ridge.

CRP bought 3,859 acres from Lyons family in 1961 for a reported $1 million. CRP purchased additional property from family through the 1960s amassing future acreage of the city of Coral Springs. 

Hunt and Taravella used auctions to sell lots or tracts as investment packages to attract builders.  A group settled on the name Coral Springs though the city cannot boast of any springs. To advance development plans, Coral Springs was created by legislative act June 6, 1963 (along with North Lauderdale and Parkland). Harry W. Wilson of Lauderdale-by-the-Sea was tapped as first mayor/commissioner of Coral Springs. See the “Birth of  a City,” ran the ads and other promotions for Coral Springs.

In 1963 Hunt and Taravella planned a city for an expected 50,000 residents. They envisioned a large retirement village for about 3,500 apartments, medical facilities and 24-hour nursing services. Total monthly payments would include the cost of prescriptions and other medicines. CRP built roads and 50 miles of canals for about $3.2 million. Focus on a retirement village expanded into condos, co-ops, a golf course and all the amenities of a new city. They knew their market.

Enthusiasm for Coral Springs proved boundless. An auction held in July 1964 highlights how hot the market was for Coral Springs. Held at Galt Ocean Mile Hotel, the auction sold off 568 lots or 160 acres valued at $1.6 million in a reported seven minutes. Tracts of 1.25 acres to two acres sold for $19,000-$50,000 with 20 percent down, 80 percent payable over five years at a 5.5 percent interest rate.

Coral Springs land sales also attracted the famous. Jack Drury, a well-known and respected public relations figure in Fort Lauderdale, persuaded friend and entertainer Johnny Carson to buy a few lots in Coral Springs. Carson was on hand for one of the city’s early land auctions and a groundbreaking event when he purchased 60 acres in 1964. He held on to the property for eight years and later told Drury it turned out to be one of the best financial decisions of his life.

Westinghouse purchased Coral Springs land in 1966 and left Coral Ridge Properties as developers. The city, totally built out by 2003, set restrictions on commercial signage, house colors and vehicle storage, elements of a planned community that differentiated them from others at the time. A covered bridge, built in 1964 at one of the city entrances to attract interest, remains standing.

Today Coral Springs is home to about 135,000 residents, three high schools, a middle school two, several elementary schools and a shopping mall. Occupying 24 square miles, the center of Coral Springs sits at West Sample Road and University Drive. (University Drive was built to “link the major educational plants of Dade, Broward and Palm Beach counties" in 1965.)

Some may say that enthusiasm about Coral Springs, once farmland, amounted to much more than a hill of beans … green beans.

Copyright © 2025. All rights reserved. Jane Feehan

Sources:

Fort Lauderdale News, July 11, 1931

Fort Lauderdale News, July 16, 1952

Fort Lauderdale News, March 27, 1963

Fort Lauderdale News, June 6, 1963

Fort Lauderdale News, July 15, 1964

Fort Lauderdale News, July 21, 1964

Fort Lauderdale News, July 22, 1964

Fort Lauderdale News, Feb.27, 1965

Fort Lauderdale News, Nov. 29, 1965

Fort Lauderdale News, March 1,1979

The Palm Beach Post, Aug. 27, 2020

South Florida Sun-Sentinel, Sept. 25, 2021

Drury, Jack. Playground of the Stars. Charleston: Arcadia Publishing, 2008

The City of Coral Springs

Tags: Coral Ridge Properties, Coral Springs, Henry L. Lyons, Broward County in the 1960s, Johnny Carson, Jack Drury