by admin | Jan 6, 2016 | Market Data
TAMPA — The Florida Department of Transportation has closed on a Westshore Business District site that could become a regional transportation hub linking buses, an airport people-mover and pot
Source: www.tbo.com
A critical component of the region’s transportation needs have been addressed with the recent purchase of two sites in the Westshore Business District. FDOT has closed on the future site of a mulit-modal center that is expected to connect to Tampa International Airport and downtown Tampa with future plans to expand service.
by admin | Jan 6, 2016 | Market Data
WalletHub analysts compared the 100 most populated U.S. cities across 24 key metrics.
Source: www.bizjournals.com
To identify the cities that encourage balancing a healthy diet with ample physical activity,WalletHub compared the 100 most populated U.S. cities across 24 key metrics, ranging from the average monthly fitness club fee and the number of swimming pools per capita to the number of parkland acres per capita and Tampa came in at No. 3 on the list.
This underscores the lifestyle advantage the Tampa region offers which is often cited as one of the major contributing factors for people migrating to the area.
by admin | Jan 6, 2016 | Market Data
Yardi Matrix data released Wednesday showed that rents rose in 2015 by an average of 6.4% across the 111 metro areas it tracks.
Source: www.globest.com
Yardi Matrix data released Wednesday showed that rents rose in 2015 by an average of 6.4% across the 111 metro areas it tracks.
There was also a total of 232,168 units completed across the country’s 100 largest markets in 2015, falling short of the originally projected 300,000 units by more than 20%. As a result, new supply in 2015 slid 8% from 2014’s tally of 252,348 units delivered, rather than increasing by 20% as was expected.
by admin | Jan 5, 2016 | Market Data
The $2 billion plan for Tampa’s 42-acre Channelside district will come together in 2016, with infrastructure and other work set to begin.
Source: www.businessobserverfl.com
Infrastructure work is expected to begin in the first half of 2016 on Jeff Vinik’s $2 billion mixed-use project in downtown Tampa.
The development will include a new hotel with as many as 500 keys; a Class A, 650,000-square-foot office tower; 200,000 square feet of new retail; and rehabilitate the existing 200,000-square-foot Channelside Bay Plaza.
Vertica Partners principals T. Sean Lance and Max Boehmer exclusively represented Vinik’s group in the acquisition of the land for the project through a variety of real estate transactions over the course of several years.
by admin | Jan 5, 2016 | Market Data
In most of the country, owners of single-family rental properties might be hitting the ceiling on how much further they can raise rents.
Source: nreionline.com
Demand for single-family rental homes is high, with very few empty homes. That’s one reason rents are rising quickly. But as rents rise faster than wages in many part of the country, many households already struggle to keep up. Though these households may have few other options, affordability may make it more difficult for institutional investors to raise rents.
by admin | Jan 5, 2016 | Market Data
Historic DeMarcay hotel in Sarasota is reopening as an 18-story luxury condo tower. Construction is expected to be completed in spring 2017.
Source: www.83degreesmedia.com
The site of the historic DeMarcay Hotel in downtown Sarasota, is currently under construction and will reopen as an 18-story 39 unit luxury condo tower.
Downtown Sarasota is loaded with a variety of new construction projects from condos to several hotels to a number of luxury apartments.
Vertica Partners is currently under development for 228 rental units in the Rosemary District just north of the CBD core.
