BRINY BREEZES, Fla. (AP) - Mobile home owners are set to make
millions with the sale of their Briny Breezes community.
The residents of this coastal trailer-park town overwhelmingly approved the sale to a developer for more than 510 million dollars, according to a statement from the town's corporate office.
Almost every owner of the 488 trailers in the community will get more than one million dollars if the sale goes through. The contract isn't official, and residents don't get any money until 2009. Some residents bought their homes for 35,000 dollars.
The vote clears the way for Boca Raton-based Ocean Land Investments to buy the 43-acre property. State and local officials still must approve new zoning to accommodate the 900 condo units, a luxury hotel and marina proposed by the developer.
The town is run as a corporation by a board of directors, and the residents own shares based on the size and location of their lot.
(Copyright 2007 by The Associated Press. All Rights Reserved.)