The words you are searching are inside this book. To get more targeted content, please make full-text search by clicking here.

VB32963_ISSUE37_091417_OPT

Discover the best professional documents and content resources in AnyFlip Document Base.
Search
Published by Vero Beach 32963 Media, 2017-09-14 15:10:54

09/14/2017 ISSUE 37

VB32963_ISSUE37_091417_OPT

DEVELOPER RECHTER NOW FOCUSED
ON DOWNTOWN VERO

52 Vero Beach 32963 / September 14, 2017 Your Vero Beach Newsweekly ™

REAL ESTATE

Developer Rechter now focused on downtown Vero

BY RUSTY CARTER
Staff Writer

The developer who led the way in where renovation has begun on a At the other end of the building will Located at 1919 14th Ave., the
revamping the U.S. 1 commercial simple white rectangular building be Boho House, an upscale hair sa- 6,000-square-foot building was built
corridor in Vero Beach roughly a de- that will be home to three businesses. lon. A tenant for the middle space has in 1953.
cade ago is now busy breathing new not been determined.
life into the city’s downtown. The largest of the three will be Post Rechter purchased the building
& Vine, a restaurant that plays on the Rechter is adding some unique and adjoining lot as a single .34-acre
Michael Rechter, co-owner of In- building’s history – it was once a Post touches to Post & Vine. He installed parcel in 2014 for $480,000. The seller
tegra Corporations, calls Fort Lau- Office, though when Rechter bought glass garage doors that can be opened was Compass Therapeutics.
derdale home, but you wouldn’t know it a therapeutic center occupied the to a large covered patio area, dra-
it. “I probably spend 3-4 days in Vero space. Vine is a not-so-subtle hint that matically expanding the restaurant’s He was about to redevelop the
Beach each week,” he said in a tele- wine will be a key feature of the menu. seating capacity. property in 2015 when the Old Diesel
phone interview. “My focus now is on Power Plant caught his eye. When he
the city’s downtown.”

Rechter has two projects underway.
Foremost is his high-profile American
Icon Brewery, which is now scheduled
to open in October in the huge, hand-
some old former diesel power plant
at edge of downtown. The red brick
building, which is listed on the Na-
tional Register of Historic Places and
was Vero’s oldest municipal building
when it was sold to Rechter last year,
was built in 1926.

As the brewery and restaurant near
completion, Rechter has turned some
of his attention to 14th Avenue. That’s

Don’t get nervous, call Scott Tree Services

SCOTT TREE BILL BARRY
SERVICES
CERTIFIED ARBORIST
CELL: 772-473-7150

OFFICE: 772-569-3874
OAK TREE SPECIALIST
TREE CARE, MOVING & CLEARING
LANDSCAPE & DESIGN SERVICES

Your Vero Beach Newsweekly ™ Vero Beach 32963 / September 14, 2017 53

REAL ESTATE

called Vero Beach City Manager Jim PHOTOS BY GORDON RADFORD
O’Connor to inquire about purchas-
ing the property, O’Connor was ini- Celebrating 68 Years as The Trusted Name in Real Estate
tially doubtful because the site had
been in litigation for two years. NEW LISTING

O’Connor pushed to get the parcel RIVER CLUB at CARLTON THE ESTUARY CENTRAL BEACH
back under control of the city so it 5 BR / 5.5 BA $3,470,000 .56 ACRES $975,000 3 BR / 2 Full + 2 Half BA $929,000
could be sold through a bidding pro- Roger Smith 772-473-0086 ML# 164909 Stacey Miller 772-538-1900 ML# 193511
cess. Jim Knapp 772-913-0395 ML#180847

At least five bids were on file. Rech- OLD SAVANNAH RIVERWIND CACHE CAY
ter and fellow developer Scott Parker 3 BR / 2 BA $539,000 3 BR / 3 BA $528,500 3 BR / 2.5 BA $520,000
won the process with a $650,000 of- Jim Knapp 772-913-0395 ML#177068 Jim Knapp 772-913-0395 ML#180295 Roger Smith 772-473-0086 ML#181108
fer. The plant’s appraised value was
$500,000. NEW LISTING NEW LISTING

Much has changed since Rechter GRAND HARBOR – ST. DAVID’S ISLAND OAK CHASE OAK HARBOR – ST. ELIZABETH’S ISLAND
bought the power plant and 14th Av- 3 BR / 3 BA $487,000 3 BR + Den / 3 BA $370,000 2 BR + Den / 2.5 BA $348,000
enue parcels. Back in 2015 he looked Bill Lynch 772-205-5061 ML# 193488
to lease the 14th Avenue site to Fort Diane DeFrancisci 772-559-7984 ML# 193431 Jim Knapp 772-913-0395 ML#181099
Pierce-based Sailfish Brewing Com- NEW LISTING
pany. The old power plant site was NEW LISTING
eyed as an option if Sailfish’s busi-
ness took off and needed more space. OAK HARBOR – CALDICOTT HOUSE WOODFIELD VISTA HARBOR
3 BR / 2.5 BA $265,000 3 BR / 2 BA $259,900 2 BR / 2 BA $139,000
In the end, it was Rechter’s own Kit Fields 772-312-5165 ML# 193522 Pam Pendleton 772-217-1054 ML# 193568
business plan that caught a favor- Roger Smith 772-473-0086 ML#178023
able wind. In 2016 he bought the long
mothballed plant for $500,000, but Integrity • Service • Professionalism • Results
had to await a judge’s ruling in a civil
suit between the City of Vero Beach GRAND HARBOR OAK HARBOR MAIN OFFICE CHARLOTTE ERRY GROUP
and B-B Redevelopment Team, which 1221 Marina Village Circle 2901 Ocean Drive 2911 Ocean Drive
had been a tenant in the building. Vero Beach, FL 32967
The city won, allowing Rechter’s pur- Vero Beach, FL 32963 Vero Beach, FL 32963
chase to be completed. www.GrandHarborProperties.com www.AlexMacWilliam.com www.CharlotteTerry.com
772-492-6751
O’Connor had long favored sell- 772-231-6509 772-234-8500
ing the power plant, saying the city
should cease “being a landlord.”

Over the years there have been sev-
eral proposals for the property.

In 2013 Guy and Lisa D’Amico of-
fered the city $595,000 for the site.
Their idea was to open a distillery,
restaurant and bar, and a retail store.

The following year the local Cul-
tural Council proposed turning the
plant into an arts center with studios
that could be leased to artists. The
catch was that the artists had to al-
low the public to watch them work. A
similar concept has prospered in Old
Town Alexandria, Virginia, just out-
side Washington, D.C., where an idle
naval munitions factory was convert-
ed into an art center.

Despite a petition of support that
garnered 2,000 signatures, the Cul-
tural Council’s plan was abandoned
when it failed to raise the $4 million it
needed to complete the project.

Lastly, former Charlotte Hornets
owner George Shinn proposed buy-
ing the power plant. His concept was
to turn the building into a car mu-
seum where he would house his per-
sonal collection of classic cars.

Rechter opposed Shinn’s plan, ar-
guing that car museums are poor
tourist draws. He cited a 1999 car mu-
seum that opened in Fort Lauderdale.
It did little for the community. A few
years back a gastropub opened sev-
eral blocks away. It was credited with
drawing additional business, and
property values rose sharply. 

54 Vero Beach 32963 / September 14, 2017 Your Vero Beach Newsweekly ™

REAL ESTATE

Real Estate Sales on the Barrier Island: Sept. 1 to Sept. 7

The barrier island real estate market slowed last week with buyers, sellers and Realtors distracted by the
impending approach to Florida of Hurricane Irma. Only two transactions were recorded.

The top sale of the week was of a home in Turtle Cove with ocean views from the third floor yoga deck. The
residence at 3085 Mariners Way was placed on the market Dec. 9 with an asking price of $835,000. The
price was subsequently reduced to $799,000. The sale closed Sept. 5 for $762,500.

Both the seller and the purchaser in the transaction were represented by Janyne Kenworthy of Treasure
Coast Sotheby’s.

SINGLE-FAMILY RESIDENCES AND LOTS

SUBDIVISION ADDRESS LISTED ORIGINAL MOST RECENT SOLD SELLING
ASKING PRICE ASKING PRICE PRICE
$405,000
$762,500
OLD ORCHID 9625 W MAIDEN COURT 3/28/2017 $439,000 $419,000 9/5/2017
$440,000
TURTLE COVE 3085 MARINERS WAY 12/9/2016 $835,000 $799,000 9/5/2017 $255,000
$422,500
TOWNHOMES, VILLAS, CONDOS, MULTIFAMILY AND INVESTMENT

SEA OAKS 8880 N SEA OAKS WAY UNIT#208 5/12/2017 $475,000 $475,000 8/30/2017
PORPOISE BAY VILLAS 8/28/2017
SEA COVE 300 HARBOUR DRIVE UNIT#308C 4/24/2017 $325,000 $275,000 8/28/2017

1616 OCEAN DRIVE UNIT#202 8/4/2017 $429,000 $429,000

Your Vero Beach Newsweekly ™ Vero Beach 32963 / September 14, 2017 55

REAL ESTATE

Here are some of the top recent barrier island sales.

Subdivision: Old Orchid, Address: 9625 W Maiden Court Subdivision: Sea Oaks, Address: 8880 N Sea Oaks Way Unit#208

Listing Date: 3/28/2017 Listing Date: 5/12/2017
Original Price: $439,000 Original Price: $475,000
Recent Price: $419,000 Recent Price: $475,000
Sold: 9/5/2017 Sold: 8/30/2017
Selling Price: $405,000 Selling Price: $440,000
Listing Agent: Debbie Bell Listing Agent: Jonathan Arsenault

Selling Agent: Berkshire Hathaway Florida Selling Agent: Treasure Coast Sotheby’s Intl

Lynn Burley Jonathan Arsenault

Burley Properties Treasure Coast Sotheby’s Intl

Subdivision: Dunmore, Address: 2180 Dunmore Lane Subdivision: Smugglers Cove, Address: 1491 Smugglers Cove

Listing Date: 9/19/2016 Listing Date: 5/5/2017
Original Price: $499,000 Original Price: $479,000
Recent Price: $479,000 Recent Price: $469,000
Sold: 8/31/2017 Sold: 8/31/2017
Selling Price: $430,000 Selling Price: $440,000
Listing Agent: Peter Robinson Listing Agent: Eddie Branigan

Selling Agent: Laurel Agency, Inc. Selling Agent: Treasure Coast Sotheby’s Intl

Christine McLaughlin Eddie Branigan

Shamrock Real Estate Corp Treasure Coast Sotheby’s Intl

SallyWoods
PROFESSIONALISM
I N T E G R I T Y ~ R E S U LT S

THE SHORES RIVERWIND OLD ORCHID

Lakefront 3BR/3.5BA plus office, over ½ acre prime lot, Beautiful lakefront custom courtyard 3BR/3.5BA w/private Beautifully maintained 4BR/3BA lakefront home, Eleuthra
2 master suites, fireplace, pool, gated/guarded community master plus office w/built-ins, fine millwork throughout model, gated community w/pool, fitness center, tennis
$549,000 $495,000
$855,000

Y our satisfaction is my highest goal, real estate is a lasting relationship.

direct 772.492.5333 | cell 772.538.1861 | [email protected] | www.sallywoods.com


Click to View FlipBook Version