Baywinds Residents Sue Lennar Homes Over

Wetland Preserve Misrepresentations

PRESSRELEASE

                                                                                    Jane M. Gordon, Esq.

                                                                                    Page, Mrachek, Fitzgerald & Rose, P.A.

                                                                                    505 S. Flagler Drive, Suite 600

                                                                                    West Palm Beach, FL 33401

For Immediate Release: June 2, 2005

Contact: Jane Gordon            (561)655-2250

[email protected]

Baywinds Residents Sue Lennar Homes Over

Wetland Preserve Misrepresentations

West Palm Beach, FL - Today a group of 22 homeowners in the Baywinds community off Okeechobee Blvd. filed suit against Lennar Homes for breach of contract, negligent and fraudulent misrepresentation and unjust enrichment.  Lennar made representations to the purchasers that a large natural tract of land behind the Baywinds community would remain in its natural, undisturbed state.  The tract of land was labeled a “Wetland Preserve” on marketing material,  a three dimensional topographical map in the Lennar sales center and in the Purchase and Sale Agreements with the Purchasers.

After the purchasers closed on their respective homes, Lennar sold a 120 foot strip of land behind their homes to Palm Beach County for the construction of Roebuck Road, a four lane thorough-fare.  All of the purchasers in the lawsuit own homes at the northern edge of the community overlooking the Wetland Preserve.   Lennar profited from its deliberate withholding of the truth about Roebuck Road.  The Preserve was touted as a valuable feature and Lennar charged a "Homesite Premium" ranging from $5,000 to $20,000 for the lots that overlooked the Preserve.

The noise, light and air pollution from the road will adversely impact the property values of the Purchaser's lots.  In addition, the natural, private view that the Purchasers thought they were buying will be completely destroyed.  Although Roebuck Road has not been built, it is now public knowledge that it will be located behind Baywinds and this negatively impacts the desirability and value of the Purchaser's lots.

According to real estate brokers that handle residential sales in Andros Isle, Liberty Bay, Liberty Isles, Journey’s End and other developments similar to Baywinds, it is acknowledged that lots backing up to roadways, even with landscape bufferes, are more difficult to market and generally reflect a lower sales price than an interior lot or a preserve lot.  Sales comparisons of new homes similar to Baywinds, and in Baywinds itself, reflect up to a 20% loss in value of property of homes backing to a berm with a busy road bordering the berm compared to residences located on interior or preserve lots.