Purchasing Real Estate in Pembroke Pines Gets Easier

By Mary Damiano

Pembroke Pines has developed a reputation for being tough on condo conversions. But now city officials are using that strict policy to make it easier for first-time home buyers to purchase real estate in Pembroke Pines.

City officials have agreed to allow Fairfield Residential of Grand Prarie, Texas to erect a permanent sign on Pines Boulevard to promote its condo conversion of the 468-unit Marquesa Complex in exchange for incentives for first-time buyers.

Here’s how it works: Fairfield will pay Pembroke Pines $5,000 initially, and then $1,000 each month until all 333 available units are sold. The money will be deposited into a fund to help first-time buyers make down payments.

Marquesa was built six years ago as a rental and is located across from the Pembroke Lakes Mall. It features one, two and three-bedroom units that sell for $190,000 to $300,000.

Pembroke Pines has long been against condo conversions because they deplete the supply of rental units and in turn make it difficult for working people to find affordable housing. Under this deal, city officials believe it will now be easier for new owners to buy a Pembroke Pines condo.