‘A dogged, wonderful persistence’: One developer’s bet on the Channel district is finally paying off

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When developer Ken Stoltenberg moved to Tampa in 1998, he saw potential in an area where few others were willing to venture.

As he took what was then the Crosstown Expressway from his home in Palma Ceia to his office in Orlando, he’d always look over at the Channel district, imagining what could go there.

At that time, the district was a mix of vacant lots and empty warehouses, with an adult movie theater on the corner where Publix Super Markets Inc. has proposed a new store.

“It was a blank… …read more

Groundbreaking of $100M tower was more than 20 years in the works for Tampa real estate veteran

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For Jeannette Jason, Thursday morning was more than two decades in the making.

Atlanta-based Carter celebrated the groundbreaking of Nine 15, a $100 million, 23-story apartment tower at 915 N. Franklin St. Jason and her father, Miami-based Doran Jason, purchased the site where the tower will be built in 1996; she was the exclusive listing agent for the property for several years before they bought it.

The Jasons sold the site to Carter in September for $6.4 million.

“It’s a very proud, happy moment,”… …read more

Donald Trump to hold presidential rally in Tampa

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Bombastic businessman and Republican presidential candidate Donald Trump will hold a rally in Tampa this week.

The University of South Florida said Sunday that the event will be held at 7 p.m. Friday at the USF Sun Dome. Doors open at 5 p.m. Tickets are free, though parking costs $20 per car.

Trump held a presidential rally in Sarasota in November. This visit is just a month shy of the Florida primary election, slated for March 15.

In December, St. Petersburg Mayor Rick Kriseman achieved Internet… …read more

Developer shares more details on what’s to come for A La Carte site

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David Weekley Homes is still finalizing its plans for the A La Carte Event Pavilion property, but the developer knows this much: It will be an upscale, residential community with a mix of for-sale housing products.

David Weekley is under contract to acquire the 15-acre site, though a closing date is yet to be set, said Shad Tome, area president of David Weekley for Sarasota, Tampa and Orlando.

The Tampa Bay Business Journal first reported the deal on Feb. 3.

“The A La Carte community will consist… …read more

Banks expect business loans to grow 8% this year

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Bank loans to businesses will grow by more than 8 percent this year, according to the American Bankers Association’s economic advisory committee.

That’s about the same rate of growth for business lending that banks saw in 2015.

“The economy may have challenges to address, but the availability of bank credit is not one of them,” said committee Chairman Carl Tannenbaum, chief economist for Northern Trust in Chicago.

Demand for business loans is strong, and banks aren’t facing as many restrictions… …read more

Rosie O’Donnell’s home among highest-sold in 2015 in Tampa Bay

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The Tampa Bay area luxury real estate market continued to show growth in the past year, as the number of homes that sold in the area for $4 million or more increased from 20 in 2014 to 31 in 2015.

However, the number of homes sold for $6 million or more decreased from seven in 2014 to three in 2015. The average sale price of the top 25 homes dropped slightly from $5.29 million to $5.22 million.

Several homes have appeared on the List multiple times over the past few years. One such home is 703… …read more

Speculative mansion on Longboat Key sold for $7M

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A speculative waterfront mansion on Longboat Key has sold for $7 million.

The sale represents the largest residential transaction on Longboat Key in five years, said Charles Buky, who represented the seller with his father, Gabe Buky. The Bukys are with Coldwell Banker Residential Real Estate’s Longboat Key office.

Lori Cashi-Hought and Tami Cashi of Team Cashi represented the buyers — a family from Wisconsin, Buky said.

At 3475 Gulf of Mexico Drive, the 7,586-square-foot home has five en-suite… …read more

Developer closes on land for townhouses in heart of Westshore

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A developer is moving forward with plans to build townhouses on the southernmost portion of the former Without Walls church property in Westshore.

Icon Residential, based in Largo, paid $6.4 million for the 5-acre site in a deal that closed Thursday. Chris Bowers and Ryan Sampson of Eshenbaugh Land Co. represented the seller, Richman Group, in the transaction.

Richman Group acquired 13 acres on West Columbus Drive in fall 2014, paying $14.3 million. It has since sold off 2.2 acres fronting West… …read more

Except for housing, business isn’t booming and GDP is barely growing

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The U.S. economy ended 2015 like it began, with weak economic growth. The Bureau of Labor Statistics estimates GDP grew by only 0.7 percent in the fourth quarter. For the year as a whole GDP grew 2.4 percent, the same rate as the economy grew in 2014.

The problem isn’t consumers — they’re spending money. Businesses aren’t, however. Business investment declined in the fourth quarter, as companies spent less money on structures and equipment. Low oil prices continued to depress investments… …read more

Highest-priced homes on the market in Manatee County

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View the interactive map below for details on the highest-priced homes on the market in Manatee County. …read more