DEERFIELD BEACH – After two years of legal battles, residents of Pine Tree Park Co-op are casting decisive votes this week on whether to finalize a $63 million sale that would change the community’s ownership structure.
The deal, first proposed in 2023, has been stalled in litigation.
Now, shareholders and renters must each secure 51% approval for the sale to proceed. If the votes fall short, the deal collapses, leaving residents in limbo.
The co-op, located off Hillsboro Boulevard, is home to 317 families. Of those, 91 are shareholders, while 221 lease their properties. If the sale is approved, all residents would become leaseholders under a single owner.
For shareholders like Ginette and Michael Turpin, the vote is a necessary step toward resolution.
“It has to be done, it has to be settled,” they said.
But for many renters, the uncertainty is unsettling. Some fear rising rents or potential redevelopment that could push them out.
“Everyone is tired of the fighting,” said Stephanie Benyt, whose parents have lived in Pine Tree Park for a decade.
The majority of residents, over 90%, are French Canadian snowbirds who consider the co-op their winter retreat.
Voting began Tuesday morning for shareholders, while renters have until noon Friday to cast their ballots.
Property manager Terry Keene insists residents’ concerns are being heard.
“Unfortunately, costs are going up,” Keene said. “We hope they will be able to survive and the new owner will take care of them.”
For now, the future of Pine Tree Park hangs in the balance.
