The Shaping and Growth of Tampa's Downtown Real Estate

While researching downtown’s independent businesses for this issue’s “Heights Highlight,” the New Heights staff was introduced to Ellen Brown, co-owner of the Old Tampa Book Company and respected, vocal member of the Tampa Independent Business Alliance (TIBA). Since one of our goals is to encourage community participation in the magazine, we asked Ellen to personally share her thoughts with our 20,000 readers from an insider’s perspective. – Jay McGee, editor


What do you get when you mix new high-rise condos with historic urban housing; then line the streets with one-of-a-kind boutiques, shops, galleries and restaurants? For some cities, like Austin, Tex., Chattanooga, Tenn. and Charleston, S.C., it’s a successful formula for revitalizing a once dilapidated downtown district into a location visited and enjoyed by residents and tourists from near and far.

It’s also a formula that appears in Tampa’s 2005 Vision & Action Plan, which was sponsored by the city and the Tampa Downtown Partnership ((TDP) an organization created by the city to promote downtown revitalization). This sits fine with me, but my concern lies in the methodology being used to implement the plan and the types of businesses it will attract.

Many city officials shaping downtown share a philosophy that “retail will follow roofs” and that only minimal government participation is required. To that end, their focus has been to encourage developers to build condos.

But now that SkyPoint Condos has been built (and occupied) and the Element is in its construction phase, what kind of retail businesses will follow? More to the point, what kind of businesses do we want to follow?

Let’s not pretend there isn’t a difference between ubiquitous national chains and unique, independent stores. There are plenty, but perhaps the most prominent is the latter’s commitment to the community over the stockholder.

According to the Washington Post, an increase in independently-owned local businesses would boost downtown Tampa’s economy. There is a more personal reason for this than potential tax revenue or income streams from built, bought or leased commercial space. Because independents invest their own time, money and emotion into the city to grow their business, they are more likely than national chains to spend their money to support other local businesses, charities and community institutions.

See also:
Downtown Tampa Residential Growth Study
New Heights Magazine-Downtown Urban Corridor

Thinking about buying or selling real estate in the Downtown Tampa area?
Have a Real Estate question?
Feel free to email or call us 813-784-7744
Rae Catanese and Michelle Jordan
Realtors.

Search MLS
Prudential Tropical Realty

Real Estate News-Downtown Tampa Building Renovations

Downtown Tampa building undergoes renovations
Tampa Bay Business Journal

Renovations to 511 N. Franklin St. should be completed by this fall, adding to the rejuvenation of north downtown Tampa.The building's bottom floor will house a sports bar and restaurant with the top two floors and penthouse leased as office space. Details on the restaurant's name and opening date aren't yet available, said Levin Investment Realty Corp.'s Raquel Coryer.

The building will feature smart technology, electronic key access, intercoms and an art-filled gallery. Its 2,000-square-foot penthouse space features exposed brick walls and long windows with sunset views of the University of Tampa's minarets."With this part of town transforming, the improvements being made will blend with the city's plans to bring this area to life as a new destination for business and dining,"

Levin Investment Realty principal Jane Levin said in a statement.Levin Investment Realty, a Tampa commercial real estate firm, focuses on investment properties that include the sale of office, restaurant and retail buildings.


see also:
skypoint condos for sale (1)
Downtown Tampa Condos and Lofts (8)

Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question?
Feel free to email or call us 813-784-7744
Rae Catanese and Michelle Jordan
Realtors.

Search MLS
Prudential Tropical Realty

To receive more articles like this one subscribe to our Blog!

Enter your Email Address




Powered by FeedBlitz

Leave a Comment

Wilderness Lake Preserve Homes for Sale-Land O Lakes, Fl

For more information about this home for sale contact us at 813-784-7744 or email

Wilderness Lake Preserve, is a 680 acre master-planned community surrounding a crystal-clear spring-fed lake. It features a Rustic Lodge style clubhouse, Activities Center, Nature Center, a Swimming Hole and a Bath House & Spa. What more could a homeowner want?

While some are still waiting to see what happens with the market, there are still people who are looking for a place to live. Now may be the best time to purchase but you'll want to know all your options. Don't limit yourself to the builders inventory. Some communities don't allow "for sale" signs so you'll want to contact a Realtor that can show you what is available for resale.

Advantages for homebuyers are the selection of resale homes for sale. Since most of the premium lots with views and conservation tend to sell at the beginning stages of the sales process, you may find just what you are looking for in a resale property.

Another advantage is the convenience factor. There is something to be said for the whole process of building and having contractors coming and going for months after closing fixing those last punch out items. It's like getting a new home without the hassle and inconvenience.

The prices on resale homes are also competitive since the contract price was most likely set a year or more before the completion of the home.

Rae Catanese-Shatto, a Realtor who specializes in new construction, can be reached at Prudential Tropical Realty- 813-784-7744 or send an email to: realtyrae@yahoo.com

To receive more articles like this one subscribe to our Blog!
Enter your Email Address





Powered by FeedBlitz

2008 Economic Report-Tampa Real Estate Housing Market

Dr. Lawrence Yun, NAR Chief Economist gave a speech last week at the Greater Tampa Association of Realtors in Tampa. Myself, along with 200 other Real Estate agents attended the informative lecture.

His main focus was to let Realtors know to inform clients that our Tampa Real Estate Market is NOT the same as the National Market. National figures and statistics are much different. He emphasized the importance of buyers and sellers to contact an agent who can provide detailed information for specific neighborhoods, and to compare sold, list pricing and days on market on each community.

For instance, a home located in the Hyde Park area may not be the same as a home in Westchase, or Seminole Heights for many different reasons. We factor in Days on Market, How much inventory is available and what homes are actually selling for. You've heard the saying "location is everything"?

When you are starting your search, a Realtor can be an invaluable asset in being able to differentiate what the best price to list your home for based on these numbers. The same applies to purchasing.

I personally have seen an increase in buyer activity over the last 6 months. Dr. Lawrence Yun confirmed this by projecting the 2nd half of this year to see a decrease in inventory and an increase in buyers who have been "sitting on the fence" to move forward in making their home buying decisions.

Yun also stated that FL, AZ, NV & CA saw the biggest boom and are now experiencing the largest decline. This is why we are one of the Best Places to Buy Real Estate! The bottom is here.

The media met with him afterwards. FAR Early Bird picked up the Tribune article CLICK HERE and the Times article is HERE When meeting with the media, Dr. Yun said that 20% appreciation would be conservative in the next five years in Tampa Bay and should actually be significantly higher...another reason to buy now on the low side. He also said that Tampa, like San Francisco, would be a “superstar city”. He went on to say this is an anomaly that economists can’t explain, but being surrounded by water was part of the drawing power. This corresponds to what I heard Dave Ramsey say on CNN’s Larry King Live...that “people buying real estate now in Tampa Bay would look like geniuses five years from now”.

To recieve the Tampa Economic Report, send us an email with a request.

Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question?
Feel free to email or call us 813-784-7744
Rae Catanese and Michelle Jordan
Realtors.

Search MLS
Prudential Tropical Realty

Downtown Tampa Housing Study shows signs of growth

Studies and Reviews

Last week’s release of the first-ever Downtown Tampa Study showed some interesting results. Here are some of the key findings:

Downtown workers and residents are heavily engaged with the downtown cultural and entertainment community. Many have annual memberships to the facilities and attend events at these facilities on a regular basis.

Of the 60,000 downtown workers, 12.5% have a strong interest in living downtown. This translates to close to 6,000 potential new residents. Currently, there are not enough units built to accommodate that kind of growth.

Downtown residents and workers would like to see a stronger retail market. The research also shows that if there was a stronger retail market place, people would shop at the stores.

Downtown workers and residents both want downtown to offer better parking, improved bicycle paths, friendlier pedestrian walkways and a more user-friendly means of commuting within the core than having to use the car.

While downtown residents tend to be mostly male, downtown workers tend to be mostly female.
To view the presentation that was made on April 30th during the Tampa Electric/Novare-Intown Group Downtown Debriefing Series event, click here.

See also:
Downtown Tampa Condos and Lofts (8)
property near downtown Tampa (3)

Thinking about buying or selling real estate in the Tampa Bay Area? Have a Real Estate question?
Feel free to email or call us 813-784-7744
Rae Catanese and Michelle Jordan
Realtors.

Search MLS
Prudential Tropical Realty