Space Coast Association of REALTORS® New Building Information

 

Future Facility Task Force Evaluation

For more than 10 months, our Future Facility Task Force evaluated our existing facilities and office operations to determine what our future needs might be. The Future Facilty Task Force considered:

After months of research and analyzing the cost and member benefit, a recommendation was forwarded for a membership vote that we build a new building that is centrally located and consolidate our business operations under one roof. We had roughly $275,000 in deferred maintenance issues that included enhancements to our technology that needed to take place, if we didn't build a new building. The proposed plan was to sell both existing buildings to offset some of the construction costs and obtain a mortgage that fell within our current budget. 

One building makes financial sense. For analysis purposes, we developed a budget based on one building. The end result being we could accomplish the goals of streamlining the functionality of our facilities and administration into one building under the current dues structure with NO DUES INCREASE REQUIRED

There are lots of reasons this move makes sense:

REALTOR® Membership Proposal and Vote

The proposal before our REALTOR® membership was that we sell both our Merritt Island and Melbourne facilities, purchase a new property and build a headquarters building at the northeast corner of Wickham Road and Pineda Plaza Way in the community of Palm Shores. From a conservative financial standpoint, we can accomplish this goal within our existing dues structure because it’s less expensive to operate out of one office versus two. 

This is a major undertaking that has been studied and discussed in many meetings of the Future Facility Task Force and your Board of Directors. We held two Town Hall meetings to roll the proposed purchase out to the general membership so that leadership could respond to member questions and/or concerns. 

Our Bylaws required a vote of the membership for any expenditure over the available cash on hand and/or anticipated revenue during the next 12 months. Click here to learn more about the proposal. Click here to hear audio of the Town Hall meeting in Melbourne. (Please disregard the first few minutes of the audio as the meeting had not started yet so the equipment recorded background noises. Also note that the meeting ends at the 48 minute mark.)

Online voting ran from Wednesday, October 12, 2016, through 4:00 p.m. on Friday, October 21, 2016. Membership voted to move forward, our two current locations were listed for sale and the Association purchased the property in the Town of Palm Shores. We believe the new site provides easy access to I-95, US Highway 1, Wickham Road and the Pineda Causeway. In April of 2017, a groundbreaking was held at the site of the new building and each day we grow closer to its completion.

 

 

Notice: The Merritt Island Association Office Closed on June 22

 

 

The Merritt Island office closed on June 22. On that date, Association staff began conducting daily operations from the Melbourne Location, which is located at 1450 Sarno Rd. Melbourne, FL  32935 until the new location in Palm Shores is built and ready for us to move into.

Please contact the Association at 321-242-2211 if you have questions about the Merritt Island office closure.

 

 

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