Abacoa condo units spur rush

By Paul Owers, Palm Beach Post Staff Writer

Monday, March 22, 2004

They had to hand out bottled water and finger food to the masses last month during the first batch of condo conversions at Abacoa Town Center in Jupiter.

"We unlocked the doors," said Nancy Cardone, an official with Illustrated Properties, "and the whole world came pouring through."

Nearly 200 units in the renamed Village at Abacoa sold in 2 1/2 days, leaving more than a few folks condo-less. But those latecomers will get another chance Sunday when 120 more units go on sale. If those sell out, the final 120 units may go on sale.

So far, about 1,000 people have asked to be notified of the big day. Why all the fuss?

The efficiency and one-, two- and three-bedroom units are selling in the $80,000 to $210,000 range. That's a bargain in a county where home prices have jumped 80 percent in the past five years.

"The pricing certainly makes them attractive," Cardone said. "But it's also the synergy of Abacoa. It's a town center, but it's a small town."

Developers Bruce Rendina and George de Guardiola built Town Center with 413 apartments. After Lehman Brothers Holdings took over the project last year, it decided to convert the units to condos and hired Illustrated to make it happen.

This time around, Illustrated is bringing in a tent, and there will be lemonade, water, food and treats available.

"We're going to keep them hydrated, nourished and out of the sun," Illustrated's Bill Hall said of the weekend's festivities. "That's about all you can do. It's going to be a long day for some people."