by admin | Oct 20, 2015 | Market Data
New luxury apartment complex, The Westly, is coming to Westshore next year. The 262-unit multimillion dollar project features several amenities, including a spa in the clubhouse and a gaming room.
Source: www.83degreesmedia.com
The Westshore area of Tampa, long known as a thriving business district, continues to grow as a residential community with the addition of The Westly, a new luxury apartment complex under construction. The 262-unit apartment complex joins other new developments including Grady Square and the Crescent, also under construction.
Vertica Partners sold the Westly site to Framework Group and is co-developing the Sarasota project.
by admin | Oct 20, 2015 | Market Data
Single-family home rental rates are skyrocketing and a Tampa Bay area city has some of the highest in the country.
Source: www.bizjournals.com
Single-family home rental rates are skyrocketing and a Tampa Bay area city has some of the highest in the country.
The Sarasota metro has seen the third-highest increase in single-family rental rates in the United States over the past 12 months that ended in September according to Yahoo Finance.
Vertica Partners has ventured with Framework Group to develop 228 apartment units in downtown Sarasota which is one of the hotter rental markets on the gulf coast of Florida.
by admin | Oct 20, 2015 | Market Data
Largo investor Ben Mallah has sold off a hotel for more than double what he paid for it in 2012.
Source: www.bizjournals.com
Oxford Capital Group, based in Chicago, paid $34.5 million for the 261-room hotel on 6.69 acres, according to a news release.
Equity Management Partners Inc., acquired the hotel for $15.25 million in April 2012, according to Hillsborough County property records, and spent several million dollars renovating the property.
The Rocky Point and Westshore area continues to show strength in all asset classes as the geographic and economic center of Tampa Bay.
by admin | Oct 20, 2015 | Market Data
Downsizing baby boomers increasingly choose urban apartments with amenities.
Source: www.washingtonpost.com
Roughly 10,000 baby boomers are retiring each day, and recent data shows that half of those who plan to move will downsize when they do. Many are seeking the type of urban living that typically has been associated with young college graduates — so much so that boomers are renting apartments and buying condos at more than twice the rate of their millennial children.
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.
