by admin | Nov 16, 2015 | Market Data
There’s so much demand for luxury condos in St. Pete’s urban core that The Kolter Group has accelerated the construction timeline for One St. Petersburg, a $120 million project.
Source: www.bizjournals.com
When Kolter Group started planning One St. Petersburg, a 41-story condominium tower on Second Street North, its executives knew the deal could be pushing the limits of a market the size of St. Pete.
Pre-sales have surpassed Kolter’s expectations, and the West Palm Beach-based developer will break ground on the 253-unit tower and adjacent 173-room hotel in the first quarter of 2016 — 90 to 120 days ahead of schedule, said Bob Vail, president of Kolter Urban.
by admin | Nov 16, 2015 | Market Data
The multifamily development in the works in downtown Tampa could be getting out in front of the market, the Tampa Bay Lightning owner said.
Source: www.bizjournals.com
As of March, there were 1,389 units under construction in downtown Tampa and another 2,900 in various stages of planning. Those figures included 500 units in the development that Jeff Vinik’s SPP is planning between downtown and the Channel district, though Vinik recently said the first phase alone will include 1,000 residential units.
T. Sean Lance of Vertica Partners represented SPP on the acquisition of the land for their project as well as other sales for several other high profile sites throughout downtown.
by admin | Nov 9, 2015 | Market Data
The upward trajectory of rents in many metropolitan areas, which shows no sign of abating, often makes homeownership the better deal. But renters still aren’t rushing to buy.
Source: www.nytimes.com
According to a recent report by Trulia the rent-versus-buy differential is the widest it’s been since 2012, when mortgage interest rates bottomed out. Nationally, buying is 23 percent cheaper than renting. It is also cheaper to buy than to rent, in varying degrees, in all but two of the country’s 100 largest metropolitan areas. (Honolulu and San Jose, CA).
by admin | Nov 9, 2015 | Market Data
Livability.com releases its annual list that ranks America’s top cities for retirement.
Source: realtormag.realtor.org
Sarasota is listed as the number 2 place to retire in the United States in 2015. Coincidentally, the Sarasota-Bradenton market is undergoing a significant transformation and is perfectly poised to handle the influx of retirees, Boomers and Millennials. There are a variety projects under development including apartments, condos, retail, and restaurants, particularly in the downtown core.
Vertica Partners and Framework Group are currently developing 228 apartment units which are expected to break ground by 1Q 2016.
by admin | Nov 9, 2015 | Market Data
Lakewood Ranch will become home for a live-work-play research campus that managers at master developer Schroeder-Manatee Ranch Inc. expect to draw national biotechnology and life science players looking for a modern, collaborative environment coupled with classic Florida ambience.
Source: www.heraldtribune.com
Lakewood Ranch could become home to 260+ acre live-work-play research campus. The project would phase in over the next 20 years, but shows continued resilience and interest in the Sarasota market.
