For decades, the official tourism corporation of Palm Beach County has used the trademarked slogan: The Palm Beaches - Florida's Golf Capital. Tonight, however, this swanky South Florida region lost a lot of golf currency now that the PGA of America officially decided it will relocate its national headquarters to Frisco, Texas. While rumored for some time, news of the PGA of America's departure was officially announced early this evening after votes by the Frisco City Council, its Economic and Community Development Corporations and the Frisco Independent School District (FISD) board of trustees sealed the deal. As part of the move from its current Palm Beach Gardens, Fla., location, the PGA of America will help anchor a 600-acre, mixed-use development with an initial investment worth more than $500 million dollars. The PGA of America, comprising some 29,000 PGA Professionals around the world, will initially employ at least 100 people at the Frisco-based headquarters. Part of the agreement also encompasses hosting two PGA Championships, two KPMG Women’s PGA Championships and potentially a Ryder Cup in this part of North Texas - situated about 30 minutes from Dallas. This groundbreaking agreement is estimated to have an economic impact of more than $2.5 billion over the next 20 years based on a city commissioned tourism feasibility study. The study considered the economics of golf course activities, including tournaments, plus the additional impact from the new conference center. The PGA of America is teaming with Omni Stillwater Woods (OSW), a joint venture led by Omni Hotels & Resorts with Stillwater Capital and Woods Capital; the City of Frisco, as well as its Economic and Community Development Corporations; and the Frisco Independent School District. “Our move to Frisco will be transcendent for the PGA of America,” said Seth Waugh, who was named the PGA of America's new CEO last August after being a top executive at Deutsche Bank. . “Everything great starts with a dream. This is the beginning of a bold, new journey as we bring together world-class partners in a world-class location – to deliver innovative and differentiated experiences for our nearly 29,000 PGA Golf Professionals, golfers of all abilities and our staff.” Among the ambitious plans for the new golf-centric mixed-used Frisco development: two new championship golf courses, a short course, and practice areas totaling 45 holes; a clubhouse; Class AA office space; a 500-room Omni resort and 127,000-square-foot conference center; a technologically advanced retail village; parks and open space plus several miles of trails. The PGA’s Northern Texas Section will also move to PGA Frisco, where state of the art connectivity will provide opportunities to pilot promising new growth-of-the-game programming for all 41 Sections of the PGA of America. Interestingly, this isn't the first time the PGA of America had eyes on Texas. Back in 2001, the organization was courted by a San Antonio developer to create an ambitious new PGA Village, but the proposed development never got off the ground after three years of bitter debates among city officials and opposition groups in the region. For Florida's greater golf community it's a sad end to a nearly 50-year run in the Sunshine State for this 101-year-old golf organization. The PGA of America got its start in Palm Beach County in 1963 at BallenIsles Country Club. That's when Chicago-based banker/land tycoon John D. MacArthur commissioned BallenIsles' original three courses as the centerpiece of his new master-planned community called Palm Beach Gardens and the new national headquarters for the PGA of America. At the time, the PGA of America was based on the other side of the state in Dunedin, but MacArthur, one of America's leading philanthropists, had bigger plans for the PGA. Within a year, BallenIsles’ newly opened East Course was awarded the Senior PGA Championship. In the 10 years that followed, BallenIsles’ Dick Wilson and Joe Lee-designed courses played host to more than a dozen major golf tournaments, including numerous Senior PGA Championships, the World Cup event won by Lee Trevino and Jack Nicklaus in 1971 and, later that year, Florida’s first-ever major - the PGA Championship. BallenIsles also was the site of the original Qualifying School where players such as Bruce Fleisher and Tom Watson earned their PGA Tour cards and celebrities like Bing Crosby, Bob Hope and Jackie Gleason went to play. “For years, the PGA of America has served its membership all across the nation where they engage their local communities, and help to raise over $4 billion annually,” said Texas Governor Greg Abbott. “The decision to relocate their headquarters to Texas because of our business-friendly climate is a welcome one. I thank the PGA of America for the new jobs and investment that they will bring to the City of Frisco, wish them continued success, and welcome them to the Lone Star State, the home of champions.” #PGAofAmerica #FloridaGolf #golfcoursehomes #JackNicklaus #TomWatson #BingCrosby #BobHope #golfandcountryclubcommunities

While the U.S. economy is experiencing the second-longest expansion in stock market history, Fidelity Investments is reporting the average American's #401K savings account increased to $104,000 in the 2nd quarter of the year, a 6 percent jump from the previous year, according to a report by #CNBC reporter #Bob Pisani today. Meanwhile, the average #IRA jumped 7% to $106,900. For those already closest to retirement age, Vanguard reports the average 401K held by an American aged 65 or older is now $209,984; the median balance is $64,811, which means half have more than this figure and half have less. Though the increased balances are a pleasant development, these average balances are still woefully low, considering many experts believe it will take 2- to 4-times these amounts to living another 20-plus years in retirement. As one retired friend in Northern Virginia said, " I invest with both Vanguard and Fidelity and they have grown the most in the past few years." He added: "I have read that it requires almost a million in savings to have a comfortable retirement these days. For older folks, the biggest expense will be healthcare." The reality and disappointing part of these statistics is most Americans are just not saving for the future. The only reason why the averages are as high is due to a great amount of "super savers" who are pulling up the averages. For instance, there are some 157,000 Americans with 401K balances greater than $1 million. How is your retirement savings shaping up compared to these numbers? Are you going to be able to retire comfortably in your dream home somewhere, like this private world-class luxury golf and lakefront community below #BellaCollina near Orlando?

Orlando, Fla. - AV Homes, Inc. (Nasdaq:AVHI), a leading homebuilder with award-winning active adult communities in Florida, Arizona and North Carolina, recentlyannounced the addition of new and enhanced amenities at Solivita, its nationally recognized 55+ community in Kissimmee, Fla. Upgrades to the community, which already boasts more than 150,000 square feet of resort-style amenities, are part of a larger series over a few years. ​ "Solivita is a premier Active Adult community noted as one of the top 5 in the country, and it is only going to get better," said Matt Orosz, Central Florida Division Co-President of AV Homes. "While AV Homes is proud of our leadership position, and the more than seventy awards Solivita has received for excellence in design, community planning and environmental sustainability, we understand it's recognition we didn't earn by resting on our laurels." ​ A remodel of the Stonegate Grille began this month. AV Homes is investing in modernizing, updating, and upgrading the restaurant, which will be relaunched as the Stonegate Sports Bar and Grille upon completion. This includes a fresh and enlarged outdoor seating area, redecorated dining area, a new sports bar with TVs and new updated kitchen. AV Homes also tapped Hampton Golf to manage and operate the Stonegate Grille, Stonegate Golf Club, Mosaics Restaurant and the Bistro. Hampton Golf is a sister company to Evergreen Lifestyles Management which currently manages the Homeowners' Association for Solivita, so combining golf, food and beverage, facility and HOA management will ensure a streamlined, coordinated effort. ​ AV Homes will also add a pharmacy and convenience store offering sundries on Village Drive. Furthermore, a new manned, gated entrance which will include high-end transponder technology and a license plate recognition system will open at the west entrance of Solivita Boulevard. The guard gate will come as the second phase of the Poinciana Parkway concludes, providing access to on and off ramps on Cypress Parkway, east of the Solivita Boulevard west entrance. ​ The Poinciana Parkway, which saw its first phase completed in April, has always been a part of AV Homes' long-term growth strategy to enhance the community for residents and attract new home buyers. The roadway provides additional access to Solivita where AV Homes has earmarked 3,000 acres towards future development. Plans include additional communities, as well as commercial development throughout the area. ​ "The completion of Poinciana Parkway aligns perfectly with the additional residential and commercial development we have planned," added Orosz. "Solivita will only continue to evolve into an even better active adult's paradise, delivering new enhancements that are not only a reflection - but truly worthy - of the dynamic and incredible residents who currently live here, and the ones who will one day call our community - home."