by admin | Dec 15, 2015 | Market Data
A string of abandoned storefronts are about to come down to make way for a new residential tower on North Franklin Street.
Source: www.bizjournals.com
Work is starting this week on the 900 block of North Franklin Street in downtown Tampa on the construction of a 23 story apartment project with 362 units and 8,00 sf of retail. Located in the North Franklin Street district, this project should be a good start for the long neglected portion of the CBD.
by admin | Dec 15, 2015 | Market Data
The owners of 717 Parking Enterprises have added to their portfolio of property in Tampa’s urban core and will look to develop the site.
Source: www.bizjournals.com
More land sold in downtown Tampa with prices continuing to rise as sites become more scarce.
by admin | Dec 15, 2015 | Market Data
As the homeownership rate creeps lower, a number of builders–including Toll, Lennar and Ryland–are testing out and in some cases diving head-first into the rental market. Here, Sharon O’Malley takes a comprehensive look at the emerging hybrid business model.
Source: www.builderonline.com
Only 5.8% of the 535,000 single-family homes started in 2014 were built to rent rather than to sell, the NAHB estimates. That’s up from 2% in 2006. Even with the growth spurt, NAHB’s chief economist David Crowe says the number is “so small that it’s hard to tell whether that’s really a big wave or just a dabble.”
Many builders are trying to figure out a way to take advantage of the lowest home ownership rates in more than 40 years, but time well tell if this is a permanent trend or just a flash in the pan.
by admin | Dec 15, 2015 | Market Data
TAMPAThe event, like the project itself, brought together the academic, the entrepreneurial and the political.
Source: www.tampabay.com
The University of South Florida gave a big thank you Tuesday to Tampa Bay Lightning owner Jeff Vinik for donating an acre of land for USF’s new downtown medical school building.
“A new chapter for downtown Tampa,” USF president Judy Genshaft told a crowd of several hundred at a celebration anticipating the transfer of the land from Strategic Property Partners, Vinik’s development venture with Microsoft billionaire Bill Gates’ Cascade Investment fund.
The schools is part of the larger $2 billion project set to transform downtown Tampa and the surrounding districts. Vertica Partners’ T. Sean Lance exclusively represented the partnership on the assemblage of the land for the project over the course of several years and a variety of transactions.
by admin | Dec 14, 2015 | Market Data
While northern states in the United States continue to lose residents, the numbers prove that Florida, the Sunshine State, welcomes newcomers in droves. Ohio, Michigan and Illinois are the states losing population the most.
Source: learningenglish.voanews.com
Florida is expected to add five million new residents by 2030 according to the state’s Office of Economic and Demographic Research.
With this type of expected migration, rental and for-sale residential should maintain its strength for the foreseeable future.
