01/16/18 Real Estate
ST. PETERSBURG — Still more apartments are coming to St. Petersburg, this time to the Edge and Grand Central Districts just west of downtown.
The new projects, all by out-of-state developers and more moderately priced than those downtown, will add more than 650 units to a rental market that shows no signs of slowing down.
Indianapolis-based Milhaus Development plans a six-story, 251-unit apartment building with 12,000 feet of commercial space at 1601 Central Avenue. A city agency has given it a preliminary thumbs up. ...
01/12/18 Real Estate
ST. PETERSBURG — AER, a newly built apartment tower in downtown St. Petersburg, has been sold for $127 million in Tampa Bay's biggest ever apartment deal.
Camden, one of the country's largest owners of multi-family rental communities, said it will rename the 17-story, 358-unit building Camden Pier District.
"We are pleased to announce the acquisition of this premier asset in one of our core markets," Richard Campo, Camden's chairman and CEO, said in a statement. "We believe the purchase price is 5 to 10 percent below the current replacement cost."...
01/10/18 Real Estate
ST. PETERSBURG — Miami's Related Group, one of Florida's top developers, would like to build an "iconic'' condo tower in downtown St. Petersburg, the company's chairman and CEO says.
01/08/18 Real Estate
LARGO —When it comes to a certain Oldsmar company, "break the bank" is more than just a familiar saying.
The company literally broke the bank.
A-Team Structural Moving Engineers was in the process of moving a former Anchor Savings Bank building in November when something went awry. The one-story structure slipped off the moving platform, causing one end to cave in and leaving the site on busy Seminole Boulevard looking like a California earthquake scene. ...
01/05/18 Real Estate
On her Cozy Cottages website, Olga Favrow called herself one of the "leading authorities on real estate" in Tampa Bay.
"You've come to the right place!'' the site said. "Learn how to earn 12 to 15 percent on your investment!"
The pitch proved enticing: Investors from New York, California and Florida gave Favrow's Clearwater-based firm hundreds of thousands of dollars to buy, rehab and resell homes at a profit. But they say they never got their money back. ...
01/05/18 Real Estate
ST. PETERSBURG — Construction cranes in every direction. High-rises where single-story buildings once stood.
This isn't your father's St. Petersburg.
Nearly a half billion dollars worth of construction is underway or expected to start this year in the city's once somnolent downtown. Museums, apartments, condos, a new police station and a dozen other projects mark one of the biggest downtown building booms in St. Petersburg's 130-year history....
01/04/18 Real Estate
ST. PETERSBURG — Buoyed by the success of its existing downtown apartment tower, a Miami company is moving ahead with plans for another one.
And to the relief of nearby residents, the new tower won't involve any pile driving.
Jason Robertson, vice president-development of American Land Ventures, said the company closed Wednesday on land on Third Street S across from its AER apartments. ...
12/29/17 Real Estate
Most home sellers are looking for a real estate agent who can do two things:
Sell as quickly as possible for the highest amount possible.
Uh, good luck.
Finding an agent traditionally has been done through word-of-mouth and personal contacts. Agent X sold the neighbor's house, so let's try her. Or the accountant who does our taxes knows agent Y, so let's try him. That can work out fine, or maybe not....
12/28/17 Real Estate
TIERRA VERDE — Behind a tall iron fence lies one of the most unusual gated communities in Tampa Bay. And within that lies the most expensive and unusual bank-owned house for sale between Crystal River and Sarasota.
The community is called Green Land Preserve. It is on a small peninsula, thick with mangroves, that juts into the bay from the road to Fort De Soto Park. The preserve has only four houses, including the $1.59 million foreclosure that agent Lambdin Freeman was showing a few days before Christmas. ...
12/26/17 Real Estate
WESLEY CHAPEL — The nation's first Crystal Lagoon has been filled, ready for a Jan. 5 ribbon cutting and a scheduled appearance this spring by Olympic gold medal swimmer Michael Phelps.
Metro Development Group said Tuesday that the 7.5-acre lagoon in its Epperson master planned community in southern Pasco County now contains what has been estimated as 16 million gallons of clear, purified water....
12/22/17 Real Estate
Do you rent in Tampa Bay? If so, you're luckier than many renters elsewhere.
According to Zillow, rents in the four-county area are expected to rise an average of less than 1 percent next year. That's below the national rate and far less than the projected increases in Atlanta, Phoenix and many other Sun Belt cities.
Tampa Bay's median rent is also relatively low — $1,360 compared to $1,435 nationally, the highest ever reported....
12/21/17 Real Estate
Among the homes for sale on St. Petersburg's Snell Isle is a waterfront house whose owners have lived there so long the property taxes are just $14,706 a year. They've been able to deduct that entire amount on their income tax.
If the house sells for the full $2.2 million price, the property taxes will jump to as much as $42,644. But the new owners will be able to deduct just $10,000 of that....
12/20/17 Real Estate
Home prices surged in Pasco and Hernando counties in November, but sales were sluggish throughout the Tampa Bay area.
Only Pasco saw an increase in the number of single-family homes sold — up 4.9 percent compared to November a year ago. Hillsborough, Pinellas and Hernando all showed decreases.
The figures reflect what one expert calls the "pitiful supply'' of homes for sale and could bode poorly for the nation's real estate markets if inventory shortages continue....
12/19/17 Real Estate
WIMUAMA — Americans are living longer and staying a lot more active than they used to. The nation's home-building industry is eager to capitalize on that trend.
Tampa-based Minto Communities has partnered with Jimmy Buffett on Margaritavilles in Daytona Beach and Hilton Head, S.C., "active-adult" communities where baby boomers can enjoy "days of endless adventure and nights of nonstop fun" inspired by Buffett's classic song....
12/15/17 Real Estate
In 2010, Florida was in the throes of an unprecedented housing crisis. One in every eight homes was in some stage of foreclosure.
Today, the foreclosure rate is one in every 100.
Due to that enormous drop, Florida's Hardest Hit Fund will stop accepting applications Jan. 31 for its three main mortgage assistance programs. The deadline signals a major wind-down of the $1.1 billion fund, which has helped thousands of struggling Florida homeowners like Dena Tingling....