Friday, August 7, 2009

Ballfields, Libraries and Siesta Key Beachfront Condos

MIAMI, Aug 6 (Reuters) - Parks, ball fields and libraries are prime targets for local-government budget cutters in Florida, one of the dozens of U.S. states where fiscal crises playing out in state capitals are now rattling neighborhoods.

Hyatt opens Siesta resort

SIESTA KEY - The Carlyle Group has opened its $100 million Hyatt Siesta Key Beach, billed as the first "purpose-built luxury fractional beachfront residences in the Sarasota area."

Opening at a time when housing of all shapes and sizes is struggling, Carlyle has dropped the prices at the resort to a starting price of $135,700 for a share of one-sixteenth (three weeks).

The Hyatt property initially began selling six-week segments last year ranging from $250,000 to $750,000.

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