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Luxury high-rise under construction in downtown St. Pete

Construction has begun on the $80 million Icon Central mixed-used development in downtown St. Petersburg, which will include an upscale 368-unit high-rise apartment complex and upgrade of the 1926 Union Trust Bank building.

Its 15-story luxury apartment complex at 801 Central Ave. will literally stand out amid the area’s existing mid-rises – inside and outside. It will feature amenities such as an outdoor movie lawn, a club lounge with game simulator room, and indoor Zen garden.

“We studied the market and we’ve included these top tier amenities that will appeal to both the baby boomers and the millennials," says Jessica Suarez, VP of development for the Miami-based Related Group, the project developer.

It will incorporate the arts through rotating art exhibits, local artist displays, an art and wine tasting room, plus art in the courtyard surrounding the pool, she adds.

“We’ve taken it to another level,” Suarez says. “The art element in St. Pete is significant.”

A ceremonial groundbreaking ceremony, scheduled at 2 p.m. Wednesday, Jan. 10, is expected to draw local officials and team members. 

Work began in December. “We’ve cleared the site and we’re doing foundations,” she says.

The project is the latest in The Related Group’s Icon brand, known for luxury highrise rentals. It includes Icon Harbor Island apartments in Tampa, plus Icon projects in Fort Lauderdale and Atlanta.

Icon Central will include studio, one-, two- and three-bedroom units with monthly rents expected to range from $1600 to $4000; some on the top floors will have water views. Leasing is anticipated in mid-2019.

The high-rise, being built in a contemporary federal architecture style, also will include a spa with steam and sauna, a pool courtyard with a European-style heated pool, and a summer grilling kitchen.

The intimate, outdoor movie lawn will have a large screen on the side of the building, which can be used for movies or projections during outdoor classes.

Related seeks to create a community around activities for its residents. “That [Icon Central] is a community for us. We’re constantly involving them,” she says. “It’s different. You don’t see anything like that in St. Pete.”

The residential complex will be connected to the bank building with a multi-use building with retail, residential and parking space. The first two levels will be primarily cast stone, with tan stucco above. The bank is being renovated with stonework, cornices and other features reflecting the historical era.

What we envision there is more of a high-end -- boutique stores with lounge and meeting space, or a food hall,” she says.

The interior of the bank, as well as an 1980s addition, have been demolished. “As construction progresses, we will start marketing the retail,” she explains.

The retail space is expected to be completed around mid-2019.

What attracted the developer to St. Petersburg was the continued growth and development, similar to more successful areas in the Miami area that have been revitalized, she says.

Icon Central has been in the works for three years.

The Related Group is active in the Tampa market, where move-ins have begun at Icon Harbor Island, a 340-unit luxury development. Construction is continuing at River Manorwalk, an eight story, 400-unit complex being built on the site of the former Tampa Tribune downtown, with leasing and move-ins planned in mid-2019.

Related also is developing the 396-unit Town Westshore rental community and partnering with Tampa Housing Authority in its West River redevelopment involving 150 acres on the west bank of the Hillsborough River on the edges of downtown.


Work begins on USF building to anchor Water Street Tampa

Construction has begun on the University of South Florida’s $152.6 million Morsani College of Medicine and Heart Institute at Water Street in downtown Tampa. The facility, which will anchor the $3 billion Strategic Property Partners' development, will bring students to live, work and study closer to their primary teaching school, Tampa General Hospital.

Though the building isn’t expected to open until late 2019, USF is already experiencing a number of positive benefits.

Since the move from the university’s main campus in North Tampa was announced in 2014, applications to the USF medical school have risen 40 percent, meaning more than 30 applicants are competing for every seat. USF has become the most selective medical school in the state, with MCAT scores in the top 20 percent of medical schools in 2016.

“We’re full in a lot of ways and have to hold off recruiting," says Dr. Edmund Funai, Chief Operating Officer for USF Health and Senior Vice President for Strategic Development for the USF System. "It’s exceeded our wildest expectations,”

The 11-story building is expected to bring more than 2,200 students, faculty and staff to the 53-acre Water Street Tampa. Its close proximity to its primary teaching hospital -- just a short water taxi ride away -- is expected to boost federal funding for research to fight heart disease.

The economic impact to Tampa Bay is considerable: the Heart Institute alone is expected to have an impact of $75 million annually.

USF leaders, friends and supporters gathered September 20 for a Dig This! event, viewing the development site from the upper floors of Amalie Arena. The group included USF System President Judy Genshaft, Tampa Bay Lightning owner Jeff Vinik, Florida Senator Dana Young, R-Tampa, and Tampa Mayor Bob Buckhorn.

Funai says being on the waterfront downtown enables USF to better showcase Tampa Bay area. “It’s a little harder to do from the main campus,” he points out. “It does a lot for people’s attitudes to to see the water and the sun and to be part of something that’s going to be a game changer for the city of Tampa and the Tampa Bay region.”

Funded by $112 million state university dollars, as well as private donations, the building’s modern design facilitates collaboration with more open spaces instead of the traditional classrooms of 20 years ago.

“It’s being designed to be as open as possible, to be adaptive to changes in curriculum,” he says.

The building will feature “next generation library service” through a donation from the insurance provider Florida Blue, he says. “It’s going to be on the cutting edge of information technology,” he asserts, “moving beyond the old book.”

Funai expects the facility, which is near USF’s Center for Advanced Medical Learning and Simulation (CAMLS), to be at the forefront of research through its high-resolution magnetic resonance imaging and state-of-art clinical trial unit.

The SPP development is meant to compliment what already is in the vicinity, highlighting the waterfront and incorporating lots of greenery.

“We’re building the safest building that we possible can,” he adds. “It’s built to deal with what Mother Nature may throw at you over 100 years.”

Vinik is a part owner in SPP, which is developing Water Street Tampa over a 10-year period. He and his wife Penny were recognized by USF September 26 when the university named its dual-degree Sports and Entertainment Management program after them. The Viniks helped launch, and provided more than $5 million of support, for the program run by USF’s Muma College of Business.

The program features business fundamentals MBA management, finance, marketing, information systems and accounting classes. Other courses involve the sport and entertainment industry.


CDC of Tampa plans townhomes in the Fish Bowl

Housing shouldn’t cost half of your household income. But for some 47,387 households in Hillsborough County, it costs more than that, a needs assessment shows. Nearly 1,500 single-family households lack full plumbing and a kitchen. More than 3,000 live in overcrowded conditions.

In an attempt to help provide affordable housing, the CDC of Tampa is planning a $5 million rental community on E. Diana Street near N. 43rd Street in an area known as the Fish Bowl. Called Gardens at Diana Point, the two-story, four-building complex features 24 three-bedroom, two bathroom units with an attached garage. One unit in each building will be handicapped accessible, and span only one floor.

Designed for low- to moderate-income families, rents are expected to range from $567 to $1,232 after utility allowances.

47,387 households in the county are what are considered rent burdened or cost burdened,” says Frank Cornier, VP of Real Estate Development for CDC of Tampa.

Their goal is to reduce housing costs to 30 percent of income, he says.

See the 5-year consolidated plan for 2016-2020 here.    

A ceremonial groundbreaking for Gardens at Diana Point was held at the property August 31, although bids are still out on the project designed by BDG of Tampa. Construction is expected to begin in October, with leasing applications accepted in spring 2018 and move-in anticipated in June.

The homes will have a little porch on the front, which a lot of people are not even building anymore. It’s a good way of having conversations,” Cornier says.

All units face an interior courtyard featuring a children’s play area. The county, which owns an adjacent retention pond, will be investing $1 million to improve the area east of the property with a boardwalk and fishing pier for the neighborhood.

The development is located next door to Robles Elementary. “I’m sure we’ll get families that have children that go to that school, or want to go to that school, that will apply,” Cornier adds.

To be eligible, a family of four cannot make more than $48,000, he says.

Lower rents are made possible by a $3.5 million investment by the county for development. Some of the funding is derived from a state housing initiative earmarked for rentals.

Rents vary based upon household incomes, with two units set aside for very-low-income residents.

Beacon Homes

Meanwhile an open house is scheduled at 10 a.m. September 28 at the $2.5- to $2.8-million Beacon Homes, a 13-unit housing development at North 34th Street and East 28th Avenue. The three-bedroom, two-bath homes are expected to sell for at least $165,000. Two closings already have taken place and two more are planned in September. An additional three homes are under construction.

“It’s been a catalyst. Other people are also building around Beacon Homes and improving their property,” Cornier says.

The homes include attached garages, plenty of closet and storage space, and energy-efficient appliances. Assistance is available with closing costs for eligible parties. Seven of the homes have income restrictions of $47,850 per family of four, which allows them to buy with $3,000 out of pocket. Those with higher incomes are able to purchase one of the six other homes.

The CDC also is planning four more affordable homes on available lots in the E. Columbus Drive area between 22nd and 34th streets. The three-bedroom, two-bath homes with attached garages are expected to sell for an estimated $165,000 to $180,000. Construction on two is slated to begin next quarter, with the other two following.

Wrecking crews already have begun tearing down the city’s oldest public housing complex, North Boulevard Homes, which will be replaced by a 150-acre redevelopment project called West River. That project, to include some 840 affordable apartments, is intended to help transform the downtown area into an urban hub that may include 2,200 residential units, 90,000 square feet of retail and 70,000 square feet of office.

Construction on the first two buildings is anticipated in a year, but the full build-out may take a decade to complete.


Manor Riverwalk rising along Hillsborough River’s west bank, downtown Tampa

A group of approximately 80, including local dignitaries, stakeholders and neighbors, are expected to gather at 10 a.m. August 23 for the official groundbreaking of Manor Riverwalk, an eight-story apartment complex that will replace the building that once housed The Tampa Tribune on the city skyline.

The ground has been leveled and construction has “gone vertical” at 202 South Parker Street on the Hillsborough River’s west side downtown, according to Arturo Peña, VP of Development for Miami’s Related Group, the project’s developer.

We have our financing in place. We are underway,” Peña says. “We think that’s a huge iconic addition to the Tampa skyline.”

Cranes are on the site of the project, where rents will average $2,700 a month in 400 units, and the first floor of columns are in view.

Manor Riverwalk is expected to include a 400+ feet river trail to connect with similar paths on the west side of the Hillsborough River downtown. “The RiverWalk is a technical term that the city uses on the east side,” Peña says. “We’re continuing the river walk on our riverfront [on the west].”

Related has granted an easement to the city of Tampa so that all citizens can enjoy the pathway, which will be routed around a night-time roost for birds on the southeast portion of the property.

“The birds come in at night to sleep,” he says. “They’re out by morning.”

Leasing is scheduled in the last quarter of 2018, with apartments ready for occupancy during the first quarter of 2019. The average size is 1,030 feet, a bit larger than originally planned, because the company has opted for some units.

“We wanted to beef up the ones on the end and really take advantage of what we think are great views,” he explains.

Related Group is investing some $350 million in four Greater Tampa area projects. “We’re very bullish on Tampa’s growth,” he says. “We love the leadership of Mayor [Bob] Buckhorn. ... They really help you want to do business in Tampa.”

In August, Related secured a $52 million construction loan to develop the 396-unit Town Westshore rental community, which already has broken ground. It is preparing for move-ins at its 340-unit Icon Harbour Island luxury development. Related also is partnering with the Tampa Housing Authority on the150-acre redevelopment project on the west bank of the Hillsborough River, West River, that will further efforts to rebuild the neighborhoods on the edges of downtown Tampa.


Related Group secures $52M loan for new luxury apartments in Westshore, Tampa

Related Development LLC, the Miami firm redeveloping the former Tampa Tribune site, secured a $52 million construction loan Thursday to build a luxury rental community in the Westshore area.

SunTrust Bank provided the funding that will allow Related to build the 396-unit Town Westshore rental community, which recently broke ground at 5001 Bridge St. just south of Gandy Boulevard and about five blocks west of Westshore Boulevard. 

“We see tremendous growth in the I-4 corridor, and developments like Town Westshore are positioned to take advantage of the continued job and population growth in the region,” says Rebecca Cox, VP at SunTrust Commercial Real Estate, in a news release.

The property is one of four Related projects in the greater Tampa area, including the Manor, now underway on the former Tribune site, just off Kennedy Boulevard along the Hillsborough River in downtown Tampa. 

“Related has a track record of not only identifying underserved markets, but also delivering compelling residential properties tailored to the specific submarket,” says Steve Patterson, President and CEO of Related Development, in a news release. “Town Westshore is no different. We’ve done our homework and are confident the property and its central location will resonate with Tampa and St. Pete’s growing base of renters.”

The four-story, luxury mid-rise apartment development includes 396 units on just over 8 acres. Amenities will include fitness and yoga studios, saunas, massage treatment rooms, E-lounges, executive dining rooms and concierge services. On the drawing board: shopping, dining and a marina within walking distance.

Town Westshore is one of several blockbuster projects Related has planned or in the works in Tampa. The company, founded by Chairman and CEO Jorge Perez, is partnering with the Tampa Housing Authority on the West River project, the redevelopment and re-imagining of 150 acres on the west bank of the Hillsborough River near downtown.

The massive mixed-use project, which one city official called a “holistic approach to building a neighborhood,” is a legacy project for Mayor Bob Buckhorn. The mayor has committed $35.5 million in public money to transform Julian B. Lane Riverfront Park as a destination recreation and artistic site in the heart of the revitalized neighborhood.

Related is also preparing for move-ins at the 340-unit Icon Harbour Island luxury development. The 21-story, Parisian-style tower includes studio, one-, two- and three-bedroom apartments. Residents can enjoy hotel-style amenities, including a deluxe lounge, movie room, business center, game room with bar, fitness center, spa and massage room, poolside cabanas and gazebos, bike storage and storage lockers. Tenants can park in the garage of the neighboring Two Harbour Place building and use a skywalk to move between the tower and the garage.

Wimauma church gets major loan, donations to buy domed sanctuary

After what he describes as a "$1 million dollar miracle,'' a Wimauma pastor has purchased the church he was renting month-to-month, sparing it from being torn down to build custom homes.

“We didn’t know where to go, and God continued showing his mercy and his grace every step of the way,” says Lead Pastor Carlos Irizarry, of Wholesome Church. “We saw God move.”

Wholesome is in the path of development along U.S. Highway 301 between Big Bend Road and State Road 674 in South Hillsborough County, where fields are giving way to subdivisions. The church had been renting for about five years from River of Life Christian Center in Riverview, which was looking to sell it.

Although Pastor Carlos wanted to buy it, he lacked funds, even with a substantial discount. Things came to a head after River of Life received a developer’s offer to buy the property valued at $1.5 million.

In response, Pastor Carlos appealed to the public in March for $235,000, launching a fundraising drive on Go Fund Me. Twice they were told to vacate. Even after a May 17 loan agreement, the church needed a 15-day extension to fulfill the lender’s requirements for a land survey and environmental inspection.

When news about the church hit television, a neighbor at Valencia Lakes called wanting to know more about what the church was doing. His son donated the remaining $11,000 required. And now the neighbor is planning to work with volunteers to assist in the church as the ministry continues.

The church secured a loan, raised some $21,000 in cash, and received another $20,000+ in donated work. Interest in the church’s work continues.

With the July 14 closing behind them, the church is now focusing on plans to improve the property and open its preschool early next year. “Because we took the building as is, we do have some repairs to do,” he says.

Remodeling will add more rooms for the preschool, which is expected to have a capacity of some 50 to 75 students aged 2 to 4. Pricing will be affordable, on a sliding scale based on income.

“Definitely our mission is to help families in Wimauma, but we know there is such a big demand. Families will want to apply to be there,” he says. “I can’t tell you all families will be from Wimauma.”

Early childhood education is a long-recognized need in the Wimauma community, where some are hindered by their lack of English language skills. A coalition of people concerned about the future of the community, which includes Allegany Franciscan Ministries, the Community Foundation of Tampa Bay, the Wimauma CDC, and others are working together to expand educational opportunities.

In addition to the preschool, Wholesome plans health and youth centers, a kitchen hall, a multipurpose building and thrift shop on the 10-acre property featuring a domed sanctuary.


Venture House moves forward on affordable housing

In South St. Petersburg, Venture House is taking the first steps toward creating affordable housing for artists, entrepreneurs, social innovators and small business owners.

In May, the nonprofit community development organization finalized architectural plans and began interior demolition on a home in the Lake Maggiore Shores neighborhood.  In June, three more properties in the Bartlett Park neighborhood were added to the list.

“It is really exciting to see us move from a great idea into taking action,” says Frank Wells, President and CEO of Venture House. “Three years ago we began just as a seed of an idea -- a winning pitch at a social enterprise contest. It’s amazing to see how much has grown out of this little seed.”

As reported in the July 2014 article in 83 Degrees Media, Venture House is working in partnership with Bright Community Trust, a Clearwater-based community land trust with a goal of “creating healthy and sustainable communities across Florida.”

Both Bright Community Trust, formerly known as the Pinellas Community Housing Foundation, and Venture House are focused on buying run-down, boarded-up homes in “blighted” neighborhoods and turning them into attractive, affordable housing.  

The goal is not only to create quality housing but also in a much bigger sense to revitalize struggling communities plagued by poverty. “Social enterprise is a big part of our mission -- how to use housing as a tool to improve and build community,” says Wells.

It’s also about giving a boost to local residents by helping increase their property values and offering a helping hand to entrepreneurs who can then create local jobs.

Southside CRA designation

Lake Maggiore Shores and Bartlett Park are neighborhoods located within the city’s Southside CRA or Community Redevelopment Area. Some 4,700 acres in South St. Petersburg and more than 20 neighborhood and business associations are included in this designation.  

It’s all part of a long-term plan to bring economic development and revitalization to South St. Petersburg through several initiatives, including improving and rehabbing the housing market to “expand opportunities for entrepreneurs, minority, women and disadvantaged business enterprises and small businesses.” 

The City of St. Petersburg is working with Venture House to identify suitable housing to rehab. The Bartlett Park homes will be new construction built on three vacant lots -- lots that the City of St. Petersburg agreed to give Venture House to fulfill the organization’s community land trust mission.

“It matches the city’s goal of in-filling new construction to make the whole block nicer for local residents,” he says.

Wells expects a bid to go out in the near future to identify a local builder to work with Venture House on the construction. Funding is coming from a combination of private donation and both federal and local funds. 

Showcase demonstration home 

The Lake Maggiore Shores’ home has a slightly different vision.  It will become a showcase demonstration home for Venture House, says Wells.

A “call” has gone out for artists to submit ideas for a proposed art project that will become a permanent fixture in the home.  

“We hope to have an event in the fall where we’ll present all the different artist ideas and have the audience vote on them. Then we’ll crowd-fund those projects that are the favorites,” says Wells.

So far, FunktionHouse, a St. Petersburg artisan furniture  maker who uses locally sourced recycled local trees, will be donating a recycled wood bar top, and the Morean Arts Center, will be creating a glass wall piece, says Wells.

In addition, community volunteers and groups like the Home Builders Institute, a career training organization for the construction industry, have been helping begun demolishing the current structure to get ready for renovation.

The Maggiore Shores showcase home is expected to be finished by early next year.  But the other three homes in the Bartlett Park neighborhood are expected to be ready for occupancy much sooner.

“Our goal is to get those houses built and people moved into them,” says Wells.

Individuals eligible to live in a Venture House-sponsored property aren’t limited to just artists and entrepreneurs in the traditional sense. 

“We’re looking at the arts in a very broad sense. Not just painters and sculptors, but also opera singers, hip hop DJ’s, spoken word artists and poets,” says Wells.

The same scenario applies to entrepreneurs. “It’s not just the next new graduate writing a phone App, but someone launching a catering or restaurant business, landscaping, braiding hair, or even an activist doing great community work,” says Wells.  

“It was Watson Haynes (president and CEO of the Pinellas County Urban League) who opened up my eyes to this idea,” says Wells. “Entrepreneurship can be a path to developing wealth that changes the outcome for the homeowner and the community, especially for people who find there aren’t a lot of job opportunities open to them. Entrepreneurship can be a transformative tool for South St. Petersburg and many other communities.”

University Area CDC seeks resident input on community needs

If you are at least 18 years old and live in the 33612 or 33613 zip codes in Tampa, the University Area CDC wants to hear from you. It’s doing a survey to help pinpoint needs in the community surrounding the University of South Florida.

“This is what we are going to use to build our strategic plan,” explains Sarah Combs, the CDC’s Executive Director and CEO.

The CDC is working on improving the University Area and the lifestyles of its residents by focusing on housing, health education programs, transportation, youth programs, community safety and workforce/employment issues.

The 2017 University Area Community Survey is confidential and does not require names, emails or phone numbers. However, those who complete the survey and supply their names and contact information can participate in a drawing for prizes, including a TV, park tickets, movie passes, bicycles, a $100 gift card, and more. Additional prizes are available when the survey is turned in personally.

It takes about 20 to 25 minutes to answer the 54 questions, which involve the types of programs their children prefer, challenges to home ownership, personal safety and the effectiveness of law enforcement.

The survey is available here. Completed forms should be returned to the individual or organization who provided them, or to 14013 North 22nd St., Tampa.

The last time the survey was done was in 2015, when results were used in the creation of sports and fitness classes and a community garden to increase access to healthy foods as well as to improve Workforce Training through a Free IT Certification Course.

Combs expects the survey to reveal a small decline in the “transient nature” of the community, she says.

“This information allows us to figure out who’s our community. When we started we were primarily African-American. Now we’re primarily Hispanic,” she adds.

Originally set to close out in June, the survey will remain open through July 28 to involve more respondents.

In June the nonprofit closed on its sixth parcel near its 7-acre Harvest Hope Park. The parcels will be used to develop affordable, single-family housing. “We’re hoping that funding is going to come very soon, within the next three months,” she says.

The residences will allow owners to be “urban pioneers,” and have a place they can call home rather than a place where they stay, she says.

“What’s going to be really cool about these houses, they’re modular houses,” Combs adds.

Meanwhile the concrete has been poured on an 8-foot tall statue of a family depicting diversity and respect in the community. It will be placed in Hope Park, bordered by 19th and 20th streets and 137th and 138th avenues,

It’s created from the residents,” she says, adding it might take a month to complete. “I’m really excited to see that.”


Homebuilder buys land in Westshore Marina District

Premier homebuilder WCI Communities has purchased 2.35 acres for $2.5 million as part of a $14.5 million, two-phase land deal in the Westshore Marina District, a walkable planned community off Westshore Boulevard south of Gandy Boulevard.

The developer, Fort Lauderdale-based BTI Partners, announced the land deal with WCI, which plans to build 35 three-story townhouses in the 52-acre master planned community. WCI also has agreed to purchase a second, 9.5 acre waterfront site, with a closing anticipated by early 2018, BTI Partners announced.

WCI declined to provide details.

It [Westshore Marina District] is adjacent to some of the best housing and residential areas of Tampa,” says Beck Daniel, BTI Partners' Executive VP of Development.

Although land in the area has historically been industrial, it’s not regarded as such now. “We haven’t really looked at it as an industrial area. We’ve just looked at it as ripe for redevelopment,” Daniel says.

Earlier plans to develop the property didn’t materialize because of the economic downturn. 

BTI Partners addresses neighborhood issues like lack of usable waterfront, walkability, and traffic in its development plan, Daniel says.

The community, designed to transform the waterfront, may include up to 1,750 residential units, a 200-room hotel, retail, restaurants and office space, 185 to 240 marina slips and a 1.5 mile-waterfront park. The 14-acre marina basin will be the largest in the area.

We like the Tampa market,” says Daniel.“We’re all over the state. We try and stick to the big metros.”

Earlier this year, BTI Partners sold eight acres in the development to Miami-based Related Group, which also is building an eight-story apartment complex on the site of the former Tampa Tribune building at 202 S. Parker St.

Twenty acres in the Westshore Marina District remain unspoken for. “We try not to talk too much about the future phases until we get there,” Daniel says. “We’re hoping to announce some retail parcels soon.”

BTI Partners is proceeding with the infrastructure.“By the end of this year, we’ll have an entry road coming into the project,” he asserts. “We’re excited because everything seems to be moving forward without a hitch.


Tampa Bay Lightning Owner Jeff Vinik partners with Dreamit to promote urban tech in Tampa

Tampa could be poised to attract urban technology firms from around the globe as a result of a recent partnership between Tampa Bay Lightning owner Jeff Vinik and the New York-based startup accelerator Dreamit.

The partnership will take advantage of the ongoing development efforts by Vinik's Strategic Property Partners to attract and incubate companies with technology solutions in the areas of real estate, infrastructure and urban living.

With SPP’s plans to invest $3 billion into the development of nine to 10 million square feet across nearly 55 acres in the next 10 years, the Tampa Bay area has a head start when it comes to becoming an urban tech magnet, Dreamit CEO and Managing Partner Avi Savar says.

 “That natural resource becomes kind of the chum in the water to attract startups from around the world that are investing their time, energy and attention to solving the challenges that are facing cities across the world,” he says.

According to a news release from Dreamit, record growth is occurring across the state and in the Tampa Bay area. Just last year, over 60,000 residents moved to the region -- emphasizing the need for urban technology when creating modern cities.

"As our city develops and prepares for a bright future, I am pleased to partner with Dreamit in this UrbanTech initiative," said Jeff Vinik in a news release. "I am confident we will identify and create avenues of success for startups dedicated to building and enriching cities."

As a business accelerator, Dreamit looks for companies with ideas that have already begun to be proven and are ready to progress beyond the startup phase. For its Tampa endeavor, Dreamit will be searching for businesses offering “anything that will help accelerate and innovate the city tomorrow,” Savar says.

The partnership with Vinik in Tampa creates a rare opportunity to build a totally new city with an emphasis on the latest technology in urban development.

“There are very few places in the world where you get to come in on the ground floor and help build a city,” Savar says.


ULI Summit slated for end of May in Tampa

At the 2017 Urban Land Institute Florida Summit, individuals connected to the state’s real estate and development fields will gather to discuss trends, network and learn from the experiences of colleagues.

The event, which runs from May 25 to 26 at the Tampa Marriot Waterside Hotel, is expected to bring together over 700 ULI members and non-members ranging from attorneys and architects to land use planners and public officials.

“All of whom come together to share thoughts, ideas and research with respect to creating better land use in the future,” says Jim Cloar, chair of ULI’s Tampa Bay District Council.

The summit begins with open registration and a networking reception on the evening of May 24 and will continue with a diverse range of programing throughout the day on May 25 and 26. Programming includes four general sessions, ten simultaneous sessions and optional offsite mobile tours.

Cloar says the sessions primarily cover topics that can be applied across the state, but one of the general sessions will specifically focus on the rapidly changing landscape of Tampa Bay through several key projects. Speakers on that panel, which takes place at 1:30 p.m. on May 25, include CEO of Strategic Property Partners James Nozar, CEO of Lakewood Ranch Rex Jensen and CEO of Wiregrass Ranch J.D. Porter.

“We try to make sure we have a variety of speakers,” Cloar says.

With no shortage of material to cover, the summit offers those in the real estate industry a way learn more about the latest trends and opportunities in one jam-packed weekend. One of the main advantages attendees have is the opportunity to learn from the completed projects of their associates.

“One of the things ULI has always emphasized is sharing your experiences with projects,” Cloar says. “ULI members have always been very good about sharing those lessons learned with their colleagues.”

It is also a great chance to meet new acquaintances and reconnect with old ones – maybe even do some business.

“I wouldn’t be surprised if there are some deals done,” Cloar says.

For more information on the event or to register, visit ULI online.


CDC, lenders team up to open new affordable homes in East Tampa

The first three of 13 homes being constructed by the Corporation to Develop Communities of Tampa with affordable housing opportunities in mind are just weeks away from completion.

Frank Cornier, the CDC’s VP of real estate development, says the Beacon Homes project falls in line with his organization’s goal of supporting communities throughout Hillsborough County and improving quality of life for residents in East Tampa.

“Being able to create those affordable homeownership opportunities is key to what we do,” he says.

So far, CDC has seen no shortage of interest in the homes. One home is currently under contract while about six potential buyers are hoping to qualify for the other two, which are expected to be complete in the next two weeks.

Cornier says seven of the 13 homes, which are located along North 34th Street at East 28th Avenue, are for families who take home $47,350 or below annually – 80 percent of the area median income for a family of four. The next six will be for families who earn 120 percent of the area median income with $71,040 annual pay for the same-size family.

The first group of homes will sell for $165,000 but the cost of the second group might see an increase. Eligible buyers can receive up to just under $30,000 in down payment and closing cost assistance.

“That enables someone to be able to purchase a home with about $3,000 out of their pocket,” says Cornier, noting how important that assistance is in furthering this project’s goal.

The total budget for the project, which is a joint effort with the city of Tampa and the Tampa Housing Authority, is between $2.5 and $2.8 million. Financing comes from the city and the Florida Minority Impact Housing Fund, designed to revitalize marginalized communities across the state.

For more information or if you are interested in purchasing a home, visit CDC online.


First retail shops coming to ENCORE! in downtown Tampa

The first retail location in ENCORE Tampa!, a downtown Tampa mixed-use development, is under construction and expected to be operational within the next 90 days.

Encore, a $425 million redevelopment of the former Central Park Village public housing area, will give a home to local foodie Michelle Faedo’s Tampanian Cuisine as the first of three retail operations in the project’s immediate future.

“We’re really happy,” says Leroy Moore of the Tampa Housing Authority. “It’s a major milestone for this site because Encore is all residential now and we have space on the ground floor of all those buildings for retail.”

The residential facilities at Encore now have a strong enough population to support development of retail facilities, Moore says. In addition to Faedo’s eatery, a barbershop and new Westshore Pizza location are under contract.

“It certainly brings conveniences to the site,” Moore says. “Encore has always been envisioned as a live, work, play location.”

Located in downtown Tampa near Interstate 4 and Interstate 275, the 28-acre development has plenty of room for additional growth, including a grocery, offices, a museum and more options. Moore says he is encouraged by the present interest and envisions Encore becoming a destination for workers exiting downtown.

The first three retail locations are being installed in the bottom floor of Ella, a senior living facility located within the redevelopment.

Now that the seven-story building is full of residents, the retail market has enough onsite support to get started. As Encore continues to grow, Moore is optimistic that more retailers will be interested in setting up shop, which in turn draws in more consumers.

“When the rest of the retail comes to this site, beyond the three we already have under contract, we think this could eventually be a destination location,” he says.


University Area CDC buys land for future affordable housing

The University Area Community Development Corporation is in the process of acquiring land for development of affordable housing.

The nonprofit organization has purchased five parcels of land surrounding its 7-acre Harvest Hope Park, which is bordered by 19th and 20th streets and 137th and 138th avenues, and is negotiations for three more.

UACDC Executive director and CEO Sarah Combs says the empty lots will be used for affordable housing to help further her organization’s goal of improving the university area community. Plans for housing include single family homes, multi-family and mixed use. In combination with the park, Combs says the development will be a catalyst for change in the community.

“It’s creating something where you can start to grow from,” she says.

In the past eight months, UACDC has purchased three parcels on 138th Avenue and two on 137th Avenue and spent about $150,000 of its $500,000 budget for land acquisition. It is currently in talks to purchase two additional lots on 138th Avenue and a third on 20th street.

Combs says the type of housing developed depends on what land UACDC can obtain and the needs of the community.
 
“Before determining that, we have to ask the community,” she says.

If the nonprofit is successful in its land acquisition, there is potential for at least seven single-family homes and a 120-unit multi-family complex.

“We’re aggressive,” Combs says. “We’re going after it as fast as we can because there is a lot changing with this community and I want to make sure our residents get to stay residents.”

The residences would be offered to those who earn below the area median income and rents will likely fall between $600 and $800 a month. For the single-family homes, UACDC has the goal of a $700 monthly mortgage to encourage community members to purchase the homes. Combs says the individuals buying the homes would be people who are already involved in UACDC’s other programs and are dedicated to improving the area.

“If they join arms and walk together, we can really start to push change in a positive direction,” she says.

Developer proposes micro apartments in downtown Tampa

A Tampa-based development firm is looking to bring an innovative type of living space to downtown Tampa.

Urban Core Holdings, LLC is currently under contract to purchase a 12-story downtown office facility with plans to create micro apartments – 300 to 400-square-foot living quarters that are designed to appeal to those who live and work in the area.

Starting at $850 a month and maxing out at $1,100 the apartments, located at 220 E. Madison St., will provide an alternative that is far cheaper than other downtown Tampa complexes, says Omar Garcia of Urban Core Holdings.

Among people under age 35, especially young professionals, Garcia notes there is substantial appeal for this type of living space, which facilitates proximity to high-paying jobs in the downtown area.

“We think there’s a solid six- to seven-thousand people who would be interested in this project,” he says.

One of the proposed complex’s main advantages is the opportunity for younger occupants to be able to acquire wealth in light of the lower rents and reduced living costs.

“It’s a wealth creation idea” Garcia says, noting that the residents would ideally be living near their workplace and would bypass the expense of owning a car as a result.

According to a news release from Urban Core Holdings, a study from AAA Shows that owning a car can cost upwards of $725 per month when all costs are factored.

And the 120 potential residents at 220 Madison will likely be required to not own a car.

Urban Core is currently negotiating with the city of Tampa to avoid a $3 million fee for not adding additional parking once the space is converted from mixed-use to multi-family residential.

Garcia says having to pay the fee would translate to higher rents, which doesn’t fall in line with the goal of the building.

“We’re willing to require our residents not to own a vehicle and therefore there is no parking impact,” he says.
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