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Condo Complex in Hypoluxo, Fla., Brings Buyers in Droves.

By Linda Rawls, The Palm Beach Post, Fla. Knight Ridder/Tribune Business News

Jul. 28--The developers of Mariner's Cove -- a 240-unit rental complex in Hypoluxo being converted into condominiums -- thought they had a success on their hands. After all, one-bedroom condos starting at $139,990 -- on the Intracoastal Waterway, no less -- don't come on the market very often in these days of escalating housing prices.

But even they were unprepared for the deluge of early buyers who swarmed the complex before the grand opening, which was supposed to have been

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