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.
The idea that the conventional, market-rate apartment market is anywhere near an affordability crisis—or that owning is cheaper than renting in many markets—is simply wrong.
Source: www.multifamilyexecutive.com
Is the apartment affordability concern overblown? The majority of new apartments being constructed in the US are geared toward the upper end of the luxury market. The questions remains on exactly how deep this market is.
Class C and B properties are by default a more affordable option. They are typically located, in good areas, but maybe not premier main and main spots. The also may not offer all the bells and whistles of their Class A cousins, but provide a relatively affordable option in lieu of the true costs of homeownership.
Time will ultimately tell if the homeownership rates shift back to more “normal” levels or if renting, and the mobility that comes with it, is the new norm.
An Atlanta developer will officially begin construction on a 23-story tower on North Franklin Street, directly north of the historic Kress building.
Source: www.bizjournals.com
Another apartment project has broken ground in downtown Tampa by the development firm Carter from Atlanta. The 23 story project will include 362 apartments and 8,000 square feet of retail. There are upwards of a dozen projects in various forms of planning or construction in the CBD which will dramatically change the residential landscape providing a wide variety of living options.
The long-awaited urban grocery store appears to be moving forward.
Source: www.bizjournals.com
The addition of a Publix grocery store to the Channel District is filling in a huge void the market has desired for years. Publix will be a significant draw for the area and should help backfill additional retail needs in the district making it more self sustaining for future residents.
the number of renter households aged 50 and over has increased dramatically, jumping from 10 to nearly 15 million, and accounting for more than half of all renter growth over the past decade
Source: housingperspectives.blogspot.com
While Millennials have captured headlines in the rental business, Baby Boomers are having a lasting impact.
The number of renter households aged 50 and over has increased dramatically, jumping from 10 to nearly 15 million, and accounting for more than half of all renter growth over the past decade.
Developers and owners are designing strategies to not only attract, but retain, this segment of the market which come with their own unique set of opportunities and challenges. The fact remains that the wave of boomers is upon us and they have needs which must be met and embraced by the industry.