by admin | Oct 20, 2015 | Market Data
Tampa Housing Authority will add 800 homes to the West River redevelopment project for a mixed-income neighborhood. The $500 million project is expected to take years to complete.
Source: www.83degreesmedia.com
More homes are being added to the plans for the West River redevelopment project being designed by the Tampa Housing Authority. Another 800 homes are now envisioned as part of the 1,600 already included in the $500 million redevelopment project.
The West River redevelopment project is part of the city of Tampa’s plans to transform a 194 acres of land along the Hillsborough River into a mixed-income neighborhood. The plan to add 800 new homes was made after re-evaluating the project.
This is going to be an extremely transformational project for the area as redevelopment efforts outside the urban core are taking place in virtually every direction.
by admin | Oct 19, 2015 | Market Data
Major development projects that will bring new retail, office and apartment buildings are under construction around Gainesville in various stages of progress — from initial site work for the foundation at The Standard across from the University of Florida to a nearly completed Lowe’s building and new roads that make up the first pieces of Butler North.
Source: www.gainesville.com
Secondary marketing in Florida such as Gainesville are seeing an increase in major development projects that will bring new retail, office and apartment buildings to the area.
by admin | Oct 19, 2015 | Market Data
At the annual MFE conference, experts assessed the economic and demographic trends influencing multifamily development and investment.
Source: www.cpexecutive.com
By mid-2016, the multifamily industry is on a pace to add between 280,000 and 300,000 new units of Class A product, the largest expansion since the mid-1980s. At the same time, however, Class A vacancy has remained virtually unchanged since 2013.
“Oversupply could be a significant issue in a couple of years” if the rate of household formation fails to keep up with new product, said Steve Guggenmos, senior director of multifamily investments and research for Freddie Mac. Another concern, he added, would be investment values that rise faster than rent growth.
Even though Class A supply may soon become an issue, the panelists noted, demographic and economic factors still appear to favor years of strong demand. By all indications, abundant capital will continue to flow to the sector and multifamily origination volume is climbing fast, from $190 million in 2014 to an estimated $225 million this year and $240 million in 2016
by admin | Oct 19, 2015 | Market Data
B2R Holdings, the parent company of B2R Finance, which lends to landlords, has rebranded as Lending.com.
Source: www.nationalmortgagenews.com
B2R Holdings, the parent company of B2R Finance, which lends to landlords, has rebranded as Lending.com and will offer more types of financial products beyond rental property finance including products be aimed at consumers, entrepreneurs, or established businesses.
This is an example of how companies born in the SFR space have evolved and are branching out into other areas based on pent up demand.
by admin | Oct 19, 2015 | Market Data
Source: saintpetersburgtimes.fl.newsmemory.com
Over the past year, investors have earned an average gross return of 16.7 percent on local residential properties they bought, according to the online real estate investment site BiggerPockets.com. That ranks the bay area sixth among the nation’s top 50 metro areas.
Flipping homes has become increasingly more difficult as finding the inventory is extremely challenging. The returns on these flips have consistently decreased over the past few years, but there are still select opportunities in select submarkets for the savvy investor.
