Tampa ranked among top 10 cities for residential remodeling

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Residential remodeling in the United States increased by 9 percent from December 2014 to December 2015 and Tampa had some of the most activity in the country, according to a report from BuildFax.

Tampa was ranked No. 6 for residential remodeling in the BuildFax report, which calculated the ranking by using construction records with more than 23 billion data points, including number of residential remodeling projects per household, the statement said.

The top 10 cities are:

Colorado Springs, Colorado… …read more

Exclusive: Camden sells off multifamily development site in Westchase

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A national player in the apartment market has sold off a development site in Tampa’s Westchase area.

Houston-based Camden Property Trust (NYSE: CPT) sold nearly 6 acres adjacent to Camden Westchase Park to a buyer who plans to build a 120-bed senior living community there.

The purchase price was $2.15 million. Vertica Commercial Advisors, a subsidiary of Tampa-based Vertica Partners, represented Camden in the transaction.

The site — which Camden owned after building the 348-unit Westchase Park… …read more

Florida sweeps this home price index with largest price increases

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Florida’s metropolitan cities are experiencing some of the the highest housing market growth rates in the country, according to the latest data by Jacksonville-based Black Knight Financial Services.

The 10 metros that increased the fastest were all from Florida , according to the firm’s December price index released Tuesday.

Sarasota (1.4 percent), Punta Gorda (1.3 percent), Port St. Lucie (1.2 percent), Naples (1.2 percent), Cape Coral (1.1 percent), Homosassa Springs (1.1 percent), Sebring (1.1… …read more

Inside Dr. Kiran Patel’s palatial Carrollwood estate, three years after breaking ground (Photos)

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Past the strip centers, drive-thrus and cookie-cutter housing developments that define suburban Tampa, a palatial multifamily compound is rising above the Carrollwood landscape.

Surya Estates, the formal name of Dr. Kiran Patel’s luxuriant residence, has been under construction since March 2013 on a 17-acre site about three blocks from the intersection of North Dale Mabry Highway and Linebaugh Avenue. Patel paid $3.2 million for the land in 2003.

The home will be the largest residential structure… …read more

41-story tower to break ground in downtown St. Pete

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True to its word, Kolter Group is beginning construction on ONE St. Petersburg early.

The South Florida developer said Monday that it will celebrate the groundbreaking of the 41-story condominium tower on Friday. Once completed it will be the tallest building in downtown St. Petersburg.

“We are thrilled to begin building this iconic tower that will redefine St. Petersburg’s skyline and help further establish St. Petersburg as an international destination,” Kolter Urban President Bob Vail… …read more

For real estate developers, Tropicana Field has the potential to be a home run

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The first time Jim Cloar saw Tropicana Field, it was a bit of a head-scratcher.

Cloar, a downtown revitalization consultant, was visiting St. Petersburg from Washington, D.C. in 1990. He was in town to give a speech, and a friend drove him past the stadium, which was then the Florida Suncoast Dome.

“I looked at him and said, ‘Why in the world did they build the stadium on this end of the site, when you have all this surface parking separating it from downtown?’” recalls Cloar, who now lives… …read more

House gambling plan that complements Seminole Tribe compact could get overhaul

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House Finance and Tax Chairman Matt Gaetz is pushing changes that would match up a House gambling proposal with an even more-expansive Senate bill, but aligning the two packages may not be enough to keep the measure rolling in the Senate.

Gaetz said Wednesday morning he plans to introduce a sweeping amendment to the House proposal at his committee’s meeting next week.

The House’s plan currently complements an agreement, called a “compact,” with the Seminole Tribe of Florida, struck by tribal leaders… …read more

Masonite opens the door to new capital strategy

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Masonite International Corp. plans to buy back up to $150 million of its own stock.

It’s a way for Masonite (NYSE: DOOR), a Tampa company that designs and manufactures interior and exterior doors, to return value to its shareholders, Fred Lynch, president and CEO, said in a press release.

Masonite’s stock buyback is at least the fifth share repurchase announced in the past several months by public companies based in Tampa Bay and one of the largest buybacks, second only to a $250 million repurchase… …read more

Bank initiative opens ‘world of credit’ to some Tampa Bay snowbirds

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Tampa Bay businesses, ranging from Realtors to manufacturers to art dealers, stand to benefit from a BMO Harris Bank initiative that gives more buying power to Canadians who winter in Florida.

The program — called “cross-border banking” — allows Canadians access to their funds at BMO Bank of Montreal, without having to convert Canadian currency to U.S. dollars, said Anthony Perez, assistant vice president and manager of BMO Harris Bank in downtown Tampa. That’s key because $1 in Canadian… …read more

Florida real estate agents could get protections from crime

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People who commit violent crimes against real estate agents would face stiffer penalties, under a measure that started to move Monday in the Senate.

Members of the Criminal Justice Committee approved the proposal (SB 214), which would up the classification of assaults, batteries and sexual batteries against real estate brokers, broker associates or sales associates when they are showing property.

Sen. Jeff Clemens, D-Lake Worth, said he gets “nervous” about setting criminal laws that single out… …read more