Most Expensive Gated Communities 2005

28 11 2005

For the third year in a row, Forbes.com compiled a list of the most expensive gated communities in the U.S.

At the top of the list is Star Island, where the highest-priced home currently on the market is $50 million. The list is ranked by the costliest home currently for sale in each community; land is excluded. Floria tops the list again this year.

1. Star Island, Miami Beach, FL – Highest Price $50 million
2. Seminole Landing, North Palm Beach, FL – Highest Price $36.5 million
3. Beverly Park, Los Angeles, CA – Highest Price $30 million
4. Brentwood Country Estates, Los Angeles, CA – Highest Price $29.5 million
5. Pebble Beach, Pebble Beach, CA – Highest Price $28.5 million
6. Indian Creek Island, Indian Creek, FL – Highest Price $28 million
7. Puakea Bay Ranch, Big Island, HI – Highest Price $25 million
8. Three Arch Bay, Laguna Beach, CA – Highest Price $22.9 million
9. The Sanctuary, Boca Raton, FL – Highest Price $22.5 million
10. Pelican Crest, New Port Coast, CA – Highest Price $17.9 million
11. Washington Park, Seattle, WA – Highest Price $16.5 million
12. Royal Palm Yacht & Country Club, Boca Raton, FL – Highest Price $15.95 million

Not only gated communities are popular with home buyers, but also developers and municipalities love them. Developers can demand higher prices by adding security (or at least the appearance of it) to new subdivisions. Local governments, strapped for cash, get new residents without having to foot the bills for new roads, which the developer builds. And the home owner associations take care of some public services, such as road maintenance and trash collection.

The idea has been spilling across the globe as well, with private communities popping up in France, Argentina, South Africa, Israel, China and many other countries. In the U.S., gated neighborhoods can be traced back to at least the 19th century. Tuxedo Park, a well-known enclave of mansions and lush parkland an hour north of New York City, was begun in the 1880s. Llewellyn Park in West Orange, N.J., thought to be the first planned gated community in the country, was founded in 1853. Thomas Edison, the Merck family and the Colgates all had impressive homes there.

Today, the affluent and well-known are still drawn to private, protected neighborhoods, and are willing to pay top dollars to live in them.

Source: Forbes.com

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