South Florida developer says Tampa real estate will keep on booming

A Fort Lauderdale developer says he sees sustained demand for new development in Tampa for the foreseeable future.

BTI Partners is gearing up to break ground on a 51-acre, mixed-use project on the Gandy waterfront, just south of the intersection of Gandy and Westshore boulevards. The first phase could break ground next year, though full buildout is likely at least six years away.

“We think the Tampa market, the job numbers in the Tampa market and the progress and transition of Tampa’s metrics… …read more

Developer sells off Brandon apartments for $170K a door

A suburban apartment community has been sold for a price that is toward the higher end of multifamily real estate in Tampa Bay.

Crescent Communities, based in Charlotte, North Carolina, sold Crescent Crosstown for $58.3 million in a transaction that closed Monday, according to Hillsborough County property records. The deal breaks down to $169,476 per unit.

The buyer was Atlanta-based Centennial Holding Company, which appears to have already rebranded the 344-unit community Century Crosstown. The… …read more

Florida is slowest state to disburse foreclosure aid

When it comes to disbursing federal foreclosure aid to homeowners, the Sunshine State lags all others states in the nation, according to a report released Tuesday by federal regulators.

Florida has $1 billion in Troubled Asset Relief Program funds, a federal relief pool funded by taxpayers. The federal government created the Hardest Hit Fund — a pool of $7.6 billion in TARP funds – in 2010, after the financial crisis, to help families in the states that were hardest hit when the housing bubble… …read more

Boat-up restaurant could be first tenant in New Port Tampa on Gandy waterfront

The South Florida developers pursuing a massive, mixed-use project on the Gandy waterfront have shared additional details about the project.

BTI Partners, based in Fort Lauderdale, have filed plans with the city of Tampa for residential, retail and office space on the 51-acre site that’s just south of Gandy Boulevard, at Gandy and Bridge Street, near the intersection of Gandy and Westshore boulevards.

BTI intends to be the master developer, said Beck Daniel, vice president of acquisitions for BTI.… …read more

Retail, residential, office envisioned for New Port Tampa Bay site on Gandy waterfront

Plans are in the works for a prime stretch of undeveloped waterfront real estate near the intersection of Gandy and Westshore boulevards.

The 51-acre site has sat dormant for nearly a decade, since plans for a condominium development crashed along with the real estate market in 2006. BTI Partners, based in Fort Lauderdale, took title to the property almost a year ago.

The site is south of Gandy Boulevard, at Gandy and Bridge Street.

The newest version of plans for the property including the following,… …read more

Premier Sotheby’s buys Orlando’s Stirling Sotheby’s International Realty

A leading residential real estate firm in southwest Florida has acquired Stirling Sotheby’s International Realty.

Naples-based Premier Sotheby’s International Realty — led by former Oviedo Mayor Judy Green — bought the Heathrow-based Stirling Sotheby’s franchise for an undisclosed price on Oct. 1. The acquisition will bring Premier Sotheby’s another 90 agents, putting its total at 900 associates throughout Central and southwest Florida and in North Carolina.

Stirling Sotheby’s co-founder… …read more

Industrial, office, retail: NAIOP’s state of the Tampa Bay commercial real estate market

Land, industrial, retail, multifamily, office and investment are all sharing a similar reality.

Life is good – for now.

Brokers shared detailed assessments of the state of Tampa Bay’s hopping commercial real estate market in the annual Broker Update from the Tampa chapter of NAIOP.

People patterns drive land demand

The hottest land deals are a function of what’s happening in demographics, with 20 million people slated to move to Florida in the next five years, said Nancy Surak, senior broker… …read more

If millennials aren’t buying homes, don’t blame student loans, Zillow says

Student loans aren’t a big hurdle to homeownership, at least for those who actually graduate with at least a four-year degree, according to real estate website Zillow.

The impact of hefty student loans on career and family and the pace of millennials moving into homeownership have been points of heated debate.

But Zillow says high rents, a growing problem across the country, can be a bigger hurdle to homeownership by making it harder to save for a downpayment. The region’s hefty price tag for housing… …read more

Sneak peek: Inside the Warehouse Lofts in Seminole Heights

“Grit” is rarely a selling point for apartments, but that’s exactly what the developer of the Warehouse Lofts was going for.

Wes Burdette, who is redeveloping the former warehouse at 4513 Florida Ave. into apartments, said he wanted an industrial chic vibe — something that stands out from the luxury apartments dotting the urban core.

The model apartment has exposed cement block walls and a gleaming metal banister leading up to the loft. Of the 54 units in the building, 44 are 720-square-foot… …read more

Land race is on for custom home sites in South Tampa

Brooke Layton can’t seem to buy enough land.

The co-owner of Devonshire Custom Homes plans to close on four sites in the next four weeks — two of which already have buyers lined up.

“Everything I buy, someone seems to want,” Layton said, “and you can’t get customers unless you have the land.”

Demand for custom homes — driven by both locals who want a new house and out-of-town buyers relocating to the region — is pushing up lot prices in the region’s hottest neighborhoods: South… …read more