Dear Toby - January 2009

Your Comments and Questions - My Replies

I receive several comments and questions from website visitors. To many, I responded individually. It occurred to me that some of these questions and answers would be of interest to all of you. I publish selected input and replies under the “Dear Toby” banner, with a new page each month to keep the pages short and readable. The most recent entry is at the top of the page.

Feel free to use the “Contact Us” button to send in your comments or questions. Your name will not be disclosed. Due to volume, I may be unable to reply to everyone.

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Question: I'm one of the “lucky ones” that bought a lot in the Gardens, I'm curious what you may be hearing about that particular development and the latest on Ginn in general, a lot of rumors about Bobby being out of the picture. Also in your opinion any hope of the Gardens eventually regaining in popularity considering its location and beauty.

Toby Says: You own a piece of a beautiful property, but Ginn is having a great deal of difficulty now and work at the Gardens is stalled. Robert Gidel, who has close ties with Lubert-Adler, is essentially running the business now, concentrating on saving what can be saved. He is having to make some very difficult decisions. I expect to see more changes, including some possible property sales or joint ventures with partners other than Bobby.

The Gardens is well situated just south of Palm Coast between the Intracoastal Waterway and Bulow Creek. A Fred Couples golf course has been designed and partly roughed in. A new owner or operator with fresh capital could be a real plus. Unfortunately, the few properties that sold in the Gardens traded at peak prices. It may be a long time before the values reach their original prices.

Question: What is the progress on the Palm Harbor Golf Course?

Toby Says: As far as I know, the project construction is on schedule for an opening about Labor Day.

Question: When will Kohl's open their new store on Belle Terre?

Toby Says: A March opening is planned.

Question: In the December/January Palm Coaster, the Mayor mentioned a Publix shopping center at US1/Matanzas, Matanzas Pointe. I had heard Publix pulled out because they remodeled Albertsons. What's really happening?

Toby Says: The final site plan for the property on the northeast corner of US1 and Matanzas Woods Pkwy has been approved by the city last year. Palm Coast Holdings recently completed the site development work. Publix had planned to put a shopping center there. Since they purchased the Albertson's on Belle Terre, Publix has backed off their Matanzas plans. According to one of the crew doing the site work, you won't see any equipment on the site other than a mower for quite a while.

Question: I've noticed that trees have been cleared east of Florida Hospital Flagler. Are they planning some new construction?

Toby Says: I checked with one of the executives at the hospital. I was told they were clearing only to improve the visibility of the hospital from Interstate 95.