The Tampa region added more than 38,000 jobs.
Source: www.businessobserverfl.com
From 4Q 2014 to 4Q 2015 the Tampa Bay metro area added 38,200 jobs, a 3.1% increase. This makes Tampa Bay one of the top metro areas for job growth in Florida and should continue to add to the sustained growth of both the residential and commercial real estate markets.
Tampa’s multifamily boom shows no signs of stopping, with another new tower in the works.
Source: www.bizjournals.com
Another apartment project has been announced in the Tampa market. The project would be up to 23 stories in height with 168 units averaging 1,000 square feet each. When new projects get announced late in the cycle by novice developers it is worth taking note. This is not to say the project will not be successful, but it is typical a sign to proceed with caution.
Investors who are looking to expand their footprint in the SFR space may want to look in one of the markets that has the highest cap rate. Where are those markets located?
Source: www.dsnews.com
The Tampa Bay market still ranks within the top 10 markets nationally for single family rental investors. It is also the only market in Florida and the Southeastern United States to crack the top 10.
Austin Center is uniquely poised to take advantage of positive office trends in Tampa.
Source: www.businessobserverfl.com
Redstone’s purchase of the 10 acre, 5 building office project is performing well as an existing asset. This will allow Redstone plenty of time to formulate a well thought out development project while taking advantage of rising market rents and occupancy.
An Orlando developer has tweaked its plans and is moving forward with plans to demolish the Chart House restaurant and build apartments in its place.
Source: www.bizjournals.com
ZOM is planning on adding upwards of 300 units to the Rocky Point area of the Westshore Business District in Tampa. There are very few waterfront development sites for apartments so this should be a great and unique addition to Tampa Bay.