Developer sells off Brandon apartments for $170K a door

/in /by

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

/in /by

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

/in /by

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

/in /by

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

/in /by

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

/in /by

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

/in /by

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

/in /by

“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

Florida Fast 100: Right place. Right time. Right skills.

/in /by

The key to being one of the fastest-growing companies in Florida , it turns out, is pretty easy: All you have to do is be in the right place at the right time with the right skills.

Of course, figuring out exactly what those right things are is the hard bit.

For the companies that made the 2015 Florida Fast 100 list — health care companies, technology firms, construction businesses and more — making sure they hired the very best people they could, pushed them in the proper direction and focused… …read more

Gold toilets, a personal hockey rink and more: Behind the doors of custom homes in Tampa Bay

/in /by

What is the most unusual request you have had from a client?

Mike Bartoletta, Taralon Homes: To install a gold toilet

Brandon Boss, Boss & Mennie Inc.: To build a hockey rink inside a home

Jay Fechtel, The Fechtel Co.: To design and build a “car barn”

T.J. Nutter, Nutter Custom Construction: Glass garage doors

Leslie Bessey, Macale Builders Inc.: We had a three-story, castle-like structure to build.

Stephen Bronstein, Cornerstone Homes and Design: Mid Century Modern home

Joe Triplett,… …read more