Eleven construction projects are planned or underway in the long-blighted Rosemary District north of downtown Sarasota.
Source: www.heraldtribune.com
Eleven construction projects are planned or underway in the long-blighted Rosemary District north of downtown Sarasota including a Joint Venture between Vertica Partners, Framework Group and Forge Capital to develop 228 luxury rental units at the NWC of Fruitville & Lemon Street.
The 23-story apartment tower slated for North Franklin Street is behind schedule, but it’s still in the works.
Source: www.bizjournals.com
Another high-rise apartment getting ready to break ground in downtown Tampa continuing the redevelopment of the downtown core.
Money.com named Tampa the Best Place to Live in the Southeast in its latest ranking.
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Between hosting the 15th International Indian Film Academy Awards— or the Bollywood Oscars as they are often referred — and the exciting national spotlight on the Tampa Bay Lightning going to the Stanley Cup Finals against the Chicago Blackhawks, Tampa has plenty of achievements to boast.
“Tampa still isn’t on the radar of people in the Northeast and the Midwest,” the publication quoted Tampa Bay Lightning owner Jeff Vinik as saying. “I think it’s going boom.” Money mentioned Vinik’s downtown development project as among the things making Tampa hot.
Source: www.bizjournals.com
Money.com named Tampa the Best Place to Live in the Southeast in its latest ranking.
Between hosting the 15th International Indian Film Academy Awards— or the Bollywood Oscars as they are often referred — and the exciting national spotlighton the Tampa Bay Lightning going to the Stanley Cup Finals against the Chicago Blackhawks, Tampa has plenty of achievements to boast.
“Tampa still isn’t on the radar of people in the Northeast and the Midwest,” the publication quoted Tampa Bay Lightning owner Jeff Vinik as saying. “I think it’s going boom.” Money mentioned Vinik’s downtown development project as among the things making Tampa hot.
With homeownership levels at their lowest point in 50 years, the demand for multifamily rental homes is booming. Recently, the Urban Institute released a study that suggests 59 percent of new household formation over the next 15 years will be renters, which will cause an even bigger surge in the demand for rental housing. But are we prepared to meet this increased need?
Source: nreionline.com
Instead of asking what inning we are in with multifamily, would it be more fair to ask what game we are in…the first or second of a double-header?
With homeownership levels at their lowest point in 50 years, the demand for multifamily rental homes is booming. Recently, the Urban Institute released a study that suggests 59 percent of new household formation over the next 15 years will be renters, which will cause an even bigger surge in the demand for rental housing. But are we prepared to meet this increased need?
The Tampa/St. Petersburg market received the “most likely to succeed” superlative because its supply growth was below average yet it had the second highest demand, RevPAR and occupancy numbers, Garner said.
Supply growth in Tampa/St. Petersburg sits at 0.2% year-to-date through June. Additionally, supply growth is below average on a 12-month-moving-average with 0.8% growth. Supply growth for the U.S. industry as a whole sat at 1.1% year-to-date through June.
The market is also seeing “very strong” leisure/transient and group demand fundamentals, up 4.8% and 9.7%, respectively, according to Garner.
Diving into the market’s RevPAR performance, Tampa/St. Petersburg has seen RevPAR growth of 13% on a 12-month-moving-average. The market’s RevPAR is forecasted to increase 11.4% in 2015 and 8% in 2016.
Source: www.hotelnewsnow.com