Thursday, November 09, 2006

New Twist on South Florida Real Estate

By Mary Damiano

FOR SALE: Unique concept in South Florida real estate—to say it’s waterfront would be an understatement. Get up close and personal with marine life and Florida’s natural beauty. Act fast; won’t last.

Sound tempting? Well, you too have a shot at this unusual prospect. A weeklong auction began yesterday on eBay for naming rights of an artificial reef to be created off the Florida Keys. Bidding begins at $900,000 with a reserve of $1,300,000.

The project is run by Artificial Reefs of the Keys, which would like to create the reef by sinking retired U.S Air Force missile-tracking ship General Hoyt S. Vandenburg, which monitored NASA launches from 1963 to 1983. Using the ship to create the reef would save it from the scrap yard. The organization needs $5.7 million for the project; they’ve already raised $3 million, and hope the eBay auction will bring in much needed funds.

The new artificial reef would attract marine life, benefit the tourism-based economy of the Keys, and help the underwater environment by taking pressure off the natural coral reefs.

Those interested in buying into South Florida’s natural beauty have lots of options aside from buying the rights to name the artificial reef. Homes in Key Biscayne, for example, offer an opportunity to own a luxury piece of South Florida on an island that still retains its old Florida charm. Many Key Biscayne homes offer residents a private tropical paradise that is still convenient to all the fun and excitement of Miami and Miami Beach. There are also lots of condos in Key Biscayne, many of which offer the laid-back island life with the amenities of a luxury hotel.

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