CNBC shines national spotlight on Tampa

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Leave it to an investment manager to pull out a financial market analogy when describing his adopted hometown to the rest of the nation.

“Tampa is like a value stock,” Tampa Bay Lightning owner Jeff Vinik, a former manager of Fidelity’s Magellan fund, told CNBC. “It really has not been found out yet. Business is taking off and I think we are in the middle of a bull market here.”

For its March 19 report, CNBC highlighted plans by Vinik’s real estate firm, Strategic Property Partners,… …read more

Related Group under construction on Harbour Island tower, wants to begin Tampa Tribune project ‘ASAP’

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A Miami developer is under construction on a 21-story apartment tower and plans to move quickly to begin another major development in downtown Tampa.

Related Group closed on the land for Manor at Harbor Island, at 402 Knights Run Ave., paying $12 million for the 1.27-acre site in a deal that closed in late February, according to Hillsborough County property records. It’s also secured a $60 million loan from Bank of America, according to property records.

“Construction is under way,” Arturo Pena,… …read more

NEW YORK: The construction industry’s secret weapon

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NEW YORK — Not many people can say they’ve walked in one of the Panama Canal’s empty chambers. But when Sarah Biser was invited to Panama to tour a new set of locks, she saw firsthand what could be accomplished through the construction contracts she facilitates.

Biser leads the construction and infrastructure group at McCarter & English, a Newark, N.J.-based law firm with more than 400 lawyers in offices around the Northeast. She is currently involved in projects widening the Panama Canal,… …read more

K. Hovnanian Homes exiting Tampa Bay market

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National home builder K. Hovnanian Homes is exiting the Tampa Bay market as well as Minneapolis and Raleigh, with plans to focus on markets where Hovnanian Enterprises (NYSE: HOV) has a higher market share.

Ara Hovnanian, chairman, president and CEO of Hovnanian Enterprises, says the New Jersey-based company plans to exit both Raleigh and Minneapolis via a bulk sale and to exit Tampa as soon as all existing inventory is sold.

In a conference call with analysts on March 9, Hovnanian noted that they… …read more

Broker: Expect condo construction in downtown Tampa in the next 12 months

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Demand for condominiums in downtown Tampa is on the rise — and driving up prices to the point that the urban core could see new construction within the next year.

The most encouraging sign in the market is so few units up for sale, said Dave Traynor, development services director with Smith & Associates Real Estate in Tampa.

“When only 4 percent of the total market is for sale, that’s a big deal,” Traynor said. “The majority of that is in Grand Central. If you take away the units from Grand… …read more

Momentum builds in Tampa’s North Franklin corridor

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Jeannette Jason doesn’t want to get her hopes up.

The Tampa real estate broker has been here before, on the threshold of a boom on the northern fringe of downtown Tampa.

For all the grandiose visions and plans over the years, the brick-paved North Franklin Street is still moribund. But there are promising signs of life: A 23-story tower is under construction, and the city is investing millions to make the area more inviting to residents and cyclists.

“I don’t want to jinx anything, but I… …read more

HGTV ‘Design Star’ competitor building spec houses in Old Hyde Park (Renderings)

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A Tampa designer and builder who once competed on HGTV’s “Design Star” is building speculative homes in South Tampa’s Old Hyde Park.

Tobin Green, owner of AADMIXX in Tampa, is planning two adjacent homes, at 1312 W. Azeele St. and 400 S. Orleans Ave. Boyd Construction Co. will build the shell components.

The Azeele house is already listed for sale in the Multiple Listing Service for $925,000. It will be three stories, 2,500 square feet and includes a two-car garage. Its estimated completion date… …read more

What $1.8M in HUD funding does for Hillsborough’s homeless

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Jana Balicki has worked in behavioral health for more than 30 years, and a lot of that time has been spent helping the homeless population.

She’s watched “Housing First” models work since the 1980s, and is passionate about the program. So this week’s news that the Hillsborough HEART project will receive $1.8 million in grant funding makes her especially happy.

Balicki is chief housing administrator for the Agency for Community Treatment Services Inc. in Tampa, which administers the HEART program.… …read more

Tampa/St. Pete programs awarded millions from HUD’s $1.6B to aid the homeless

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Organizations in Florida focused on aiding the homeless received close to $73 million this week from the U.S. Department of Housing and Urban Development’s Continuum of Care grant program.

HUD estimates there were 564,708 persons experiencing homelessness on a single night in 2015, according to a statement announcing the grants.

The cost and impact of providing indigent care and services can provide headwinds to economic growth. The funding helps alleviate a portion of that pressure.

Tampa/Hillsborough… …read more

Exclusive: This $7.9M estate on Tampa Bay will appeal to luxury buyers and developers (Photos)

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A gated waterfront estate in Safety Harbor that hits the market Monday is an opportunity for real estate developers as well as luxury homebuyers.

The 9,365-square-foot home at 2600 Phillippe Parkway sits on roughly 10 acres, making it one of the largest parcels available on the Tampa Bay, said Jennifer Zales, an associate with Coldwell Banker Residential Real Estate who is listing the property.

“This is a huge waterfront lot right in the heart of Tampa Bay, in the beautiful town of Safety Harbor,”… …read more