$5.7M ‘smart home’ off the coast of Sarasota hits the market (Photos)

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A home on Sarasota Bay that underwent a significant renovation in 2012 is on the market for $5.73 million.

Coldwell Banker Residential Real Estate’s Lynne Koy has listed the 5,800-square-foot home at 100 Warbler Lane on Bird Key for sale.

Built in 1989, the multimillion-dollar renovation provided cosmetic and structural upgrades to the home. It has four bedrooms and three-and-one-half bathrooms.

“The first thing you notice when you walk in the door is the sunlight and water views. You feel… …read more

South Florida group sweet on South Tampa deals

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A South Florida group that just made its first buy in the Tampa Bay market is actively looking for more deals in South Tampa.

Rosemurgy Properties, based in Deerfield Beach, paid $10.55 million for Shops on South Howard, the Chipotle Mexican Grill-anchored center at 533 S. Howard Ave.

The sales price breaks down to $483 per square foot. With a dense, affluent population, South Tampa is a desirable market for investors, developers, restaurants and retailers.

Shops on South Howard is surrounded… …read more

Tampa developer restoring historic Ybor bungalows, building new row houses (Rendering)

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A Tampa developer has plans to revitalize a block of Ybor City by restoring historic bungalows and building new row houses.

The development, named Casitas En Cuatro, will consist of three restored single-family homes and three new “historically inspired” row houses, Sight Real Estate said Wednesday.

The single family homes will be priced from $250,000 to $290,000, and the row houses will be in the low $300,000s.

It will be on Fourth Avenue, between 18th and 19th streets, across from Tamborello… …read more

Developer: As Seminole Heights transforms, growing pains are inevitable (Video)

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Tuesday morning was a bit emotional for Wesley Burdette.

The Tampa developer and his family celebrated the opening of the Warehouse Lofts, a 54-unit apartment building in Seminole Heights — his first multifamily project. Burdette had worked in mortgage banking in Washington, D.C., and then flipped houses in Seminole Heights before developing the Warehouse Lofts.

“I could have cried up there,” Burdette said after the ribbon cutting. “This is different [from flipping houses] because of the bigger… …read more

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