The now defunct medical facility in St. Pete’s Kenwood neighborhood is in the hands of a Tampa developer who is considering a variety of uses for the property.
Source: www.bizjournals.com
An potential innovative adaptive re-use of a former hospital could pave the way for apartments in the historic Kenwood neighborhood just outside of downtown St. Petersburg, Florida.
Retirees looking to downsize and cut costs are going to be one of the largest groups of buyers next year. We found 10 homes in their top markets for 2016.
Source: www.realtor.com
Sarasota and Ft. Myers come in at numbers 4 and 5 respectively on the top 10 list of most senior-friendly places to retire.
Source: saintpetersburgtimes.fl.newsmemory.com
Flipping opportunities in Tampa Bay (and Florida) have diminished greatly over the past several years as distressed homes are clearing out of the pipeline. When small investors get into flipping houses at this stage of the cycle, there is much more risk involved than they understand. Additionally, when the cost of capital is 12% or higher from hard money lenders such as Lima One, and you factor in all the transaction costs, the margins get squeezed and the only one making a profit on the deal is the lender and brokers.
Source: saintpetersburgtimes.fl.newsmemory.com
The idea of building a set of elevated lanes over Gandy Boulevard in Tampa is getting a fresh look. A $192 million project being studied would use the lanes to extend the Lee Roy Selmon Expressway 1.6 miles from its current end at S Dale Mabry Highway to the Gandy Bridge.
Anyone who travels along this route during rush hour knows how challenging of a commute it is. It is not uncommon for traffic to be backed up across the entire length of the Gandy Bridge (and then some). While elevated lanes may be lamented by some, they could be the only solution to a traffic problem which is only going to get worse and several new apartment projects are planned for the immediate area as well as thousands of new residential units for several large developments.
Source: sarasotaheraldtribune.fl.newsmemory.com
“Our favorite mayor in Florida is the New York mayor,” said Miami’s king of the condos, developer Jorge Perez, “because he has really increased taxation. We are seeing a migration of businesses here.”
While some Sarasotans fear the latest wave of condo building will make the city into another Miami, Florida’s biggest city seems to welcome its becoming more and more like Manhattan.
As migration patterns show more people are selecting Florida as “the” state to live in, the residential real estate market continues to thrive. This is especially true for rentals of both apartments and single family homes.