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Big profit potential is putting the squeeze on property eyed for development or redevelopment throughout the Keys.  Stock Island is in many ways a microcosm of the Keys squeeze, as low and middle-income housing vanishes, and marine industries are displaced.  As the headline of this June 6 Key West Citizen article says...

Only sound planning can preserve the Keys

If there's one thing that has not missed the notice of property owners in the Florida Keys, it is property values. To say they are quickly rising is gross understatement. Property values in the Keys are soaring, and it's affecting all manner of change.

For sale signs are sprouting like weeds throughout Keys neighborhoods as homeowners realize they can get double the price their home would have brought two or three years ago. Older resort properties and RV parks are being redeveloped into larger upscale rental properties tailored for affluent tourists. Developers are buying Keys trailer parks — homes to retirees and both low- and moderate-income workers — for redevelopment into more profitable, high-end condominium communities.

Land speculators are buying and selling like mad, and development rights are bartered as if they were platinum or diamonds.

A microcosm of this sea change is Stock Island, where multi-million dollar land transactions occur among the fish houses, marinas and aging trailer parks with such frequency it's hard to keep track of who owns what. Change rapidly is gaining momentum, but its direction is still anyone's guess. And therein lies the problem.

Redevelopment in much of the Keys is inevitable, and in many ways, beneficial. But just how beneficial, and to whom, depends largely on planning and the "r" word — regulation. Already, three different visions of Stock Island's future are competing for dominance: Incorporation (the vision of several large land owners), annexation (the vision of Key West Mayor Jimmy Weekley and others in the city), and Communikeys (Monroe County's community planning program that, theoretically, is the composite vision of residents).

Don't look for a glowing portfolio from any quarter.

The county has nothing concrete on its resume to date to dispel a hard-earned reputation for inflexibility, user unfriendliness and the inability to enact virtually any land-use regulation without threats from Tallahassee. If Communikeys becomes a success, Stock Island would be its first graduate.

Key West looks toward Stock Island — and Key Haven's enticing tax base — with its own self-serving agenda. No doubt, there could be benefits from annexation. But the city doesn't exactly enjoy a reputation for doggedly fighting for the benefit and betterment of the average Joe, and it's not likely to overcome the trust handicap among Stock Island voters.

Then there's incorporation. Our skepticism about incorporation stems from the familiarity of the rhetoric. We heard incorporation proponents in Islamorada talk about preserving the quaint, fishing village character of that community. That was right before they set about turning it into another Boca Raton. And considering the many millions to be made from upscale redevelopment on Stock Island — particularly if the developers are making all the rules — we find it hard to believe that preserving the lifestyles of commercial fishermen and live-aboard boaters is a key element in the incorporation vision.

Nothing will stop what has been set in motion in Stock Island and elsewhere in the Keys. But one thing is clear. The only thing that will preserve the economic and cultural diversity of our communities, that will enable the Keys to sustain a workforce in the face of soaring property values, and that will truly preserve the character of the Florida Keys is sound planning.

On Stock Island, the ball is in the county's court. Now would be a good time for it to show residents it is up to the challenge.

— The Citizen

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