by admin | Oct 5, 2015 | Market Data
A Fort Lauderdale developer is moving forward with plans for one of the last undeveloped waterfront parcels on Tampa Bay.
Source: www.bizjournals.com
New life for the New Port project in South Tampa.
The new owner’s preliminary master plan filed with the city of Tampa shows a village-like setup, with mixed-use buildings facing both the waterfront and tree-lined streets. One of the residential buildings will be a 20-story tower with 380 units, adjacent to a nine-story building with 90 units.
This prime piece of waterfront property in desirable South Tampa is one of several other potential developments along Westshore Boulevard that could bring thousands of new homes to the area.
by admin | Oct 5, 2015 | Market Data
EB-5 supporters spoke to Bisnow to address the concerns raised about the program.
Source: www.bisnow.com
The EB-5 Program has contributed billions of dollars to the US economy “at zero taxpayer expense…EB-5 was a vital piece of the puzzle that saved and created jobs for Americans. Especially during the recession when US banks weren’t lending.”
by admin | Oct 5, 2015 | Market Data
NEW PORT RICHEY — Pasco County housing sales surged in August as real estate agents statewide enjoyed more closed sales, higher median prices and a tightening inventory, according to the lates
Source: www.suncoastnews.com
“Home sales in Florida are beginning to moderate, even as inventory gets tighter,” said Florida Realtors Chief Economist John Tuccillo. “The August gains in sales for both single-family homes as well as condos and townhouses are lower than they were in the late spring and early summer. We expect the pace of growth to be typical for the rest of the year.
“Both time on market and months of inventory are down, but they present very different pictures. Houses at all price levels are selling faster than they were a year ago, but months of inventory have actually increased somewhat at prices above $300,000. We are still seeing significant inventory tightness in the lower price ranges.
“That trend, together with rising rents, poses something of a challenge for companies seeking to relocate to Florida in need of potential workforce housing.”
Inventory continues to tighten, with a 4.3-months’ supply in August for single-family homes and a 5.2-months’ supply for townhouse-condo properties, according to Florida Realtors. Most analysts consider a 6-month supply of inventory as the benchmark for a balanced market between buyers and sellers.
– See more at: http://www.suncoastnews.com/su/list/news-pasco/housing-market-maintains-strong-momentum-20151002/#sthash.GgtOmpyc.dpuf
by admin | Oct 5, 2015 | Market Data
Among Florida’s rental markets, South Florida imposes the heaviest financial burden, a new report shows.
Source: www.sun-sentinel.com
In Palm Beach, Broward and Miami-Dade counties, 36 percent of renters spend at least half of their before-tax income on rent and utilities, according to an analysis by Enterprise Community Partners, a nonprofit housing organization based in Columbia, Md. Orlando and Daytona Beach are next at 30 percent.
Statewide, 31 percent of renters devote at least half of their income to housing. That’s the highest percentage in the country.
The issue of affordability is not a new one, however, in light of record low home ownership rates and low single digit vacancy rates, the current market conditions favor owners. One of the problems with affordability is that everyone wants to live in the most desirable areas which in turn increases occupancy and rents. Sometimes there are less expensive alternatives albeit in areas or properties that may not quite have all the bells and whistles tenants desire.
by admin | Oct 5, 2015 | Market Data
Xscapes Theatres is coming to suburban Hillsborough County.
Source: www.bizjournals.com
A new luxury movie theater is on its way to Southern Hillsborough County. Indiana-based Xscape Theatres plans to build a $15 million, 14-screen facility at the intersection of Interstate 75 and Progress Boulevard. Southern Hillsborough County is poised for tremendous growth and there are big opportunities for significant amount of retail development to cater to the thousands of homes that have been built or a planned in this part of the county.
