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Legendary NFL Quarterback Vinny Testaverde’s Lake-Front Estate Near Tampa, Florida is Headed to Auction

The ultra-luxurious estate overlooks Lake Keystone on six acres of private, manicured grounds. The home spans over 12,700 square feet with six bedrooms, seven full bathrooms, and four half bathrooms. Evan Pedone with Engel & Völkers Madeira Beach is joining forces with American Heritage Auctioneers to sell Lake Keystone property.

“We are creating an event like no other, where affluent buyers can tour and bid on this magnificent, one-of-a kind property," said Evan Pedone, Luxury Real Estate Advisor with Engel and Völkers.

"We are pulling out all the stops and will have an elegant auction event with h’ordevus, a harpist, and champagne. It will be a truly special night," said Mike Peters, owner of American Heritage Auctioneers.

“The Testaverdes chose to pursue an auction event to minimize the inconveniences of showing and selling a home while balancing a busy lifestyle,” said Pedone. “The Testverde’s have enjoyed over 10 years in the home and raised their children there. Now, with the majority of their children grown, they feel it is time to begin their next chapter.”

The estate features a bright open floorplan, great room with coffered ceiling and gas fireplace, chef’s kitchen, sun room, master bedroom with private terrace and en-suite bath, office, movie theater, dance studio, game room, billiard room with bar, wine cellar, sauna and full-size gym with an adjacent kitchen.

The grounds feature a heated pool and spa with outdoor kitchen, tennis/basketball court, private golf simulation room, boat house on the pristine waters of Lake Keystone, dock with lift, four car garage, brick paved driveway with private gate and is zoned to accommodate equestrian interests.

“My advice to any affluent buyer who is looking from Sarasota to Tampa, is to take a moment, and tour this property, because I believe you will be astounded at what it has to offer. Whether you are into water skiing on Lake Keystone, hosting your own private tennis tournament, or horseback riding within your gated estate, this property has it all, and more," said Pedone.

"The attention to detail and the quality of workmanship in this home is second to none. Now we are going to open it up to a wide spectrum of potential buyers. They will undoubtedly see the amazing value this estate offers, and will bid accordingly. May the highest bid win," said Peters.

The estate was purchased by Testaverde in 2007. That same year, he retired, after a career that spanned an impressive 21 seasons. Testaverde played for seven NFL teams including Tampa Bay Buccaneers, Cleveland Browns, Baltimore Ravens, New York Jets, Dallas Cowboys, New England Patriots and Carolina Panthers. The home underwent a $1 million restoration and renovation in 2018.

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Florida cities top rates of vacant houses in U.S., study finds. Where does Orlando rank?

A study shows that Miami, Orlando and Tampa have the greatest amount of vacant houses of all cities in the country. (Orlando Sentinel)

The most common bird in Florida might just be the snowbird evident in the high, vacant-housing rates seen in three of the Sunshine State’s cities, according to an article by the Daily Mail.

Miami, Orlando and Tampa were the top three cities listed in a study detailing the top 50 cities with the highest, vacant-housing rates, the article showed.

High vacancy can result from economic indicators, such as the availability of more affordable homes, many residences are buying second-home getaways or that property values are plummeting, according to the Daily Mail.

Miami had nearly 430,000 unoccupied homes, with 17 percent of its total homes vacant.

Orlando had about 160,000, with 16 percent vacant.

Tampa (213,000) had more homes vacant than Orlando, but 15 percent of its total homes went unoccupied.

San Jose, California, made the bottom of the list with 28,000 vacant homes.

Read the full report at the Daily Mail.

[email protected], 407-420-5268, @JoeMarPedersen on Twitter or @JoeMarioPedersenJournals on Facebook

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Pollack Shores Announces Plans To Develop Apartments In Largo

(Pollack Shores)

LARGO, FL — Multifamily developer Pollack Shores Real Estate Group of Atlanta, George, has announced plans to develop a 224-unit apartment community in Largo.

Named The Rosery, the community will rise near the intersection of Rosery Road and Clearwater-Largo Road, offering street-side retail, public art, connectivity to the Pinellas Trail and a wide array of amenities.

"The Rosery is the first of its kind in the Largo community, offering residents a luxury apartment home with direct access to popular outdoor amenities," said Steven Shores, president and CEO of Pollack Shores Real Estate Group. "We have designed an active, communal environment delivering in-demand walkable access to unique retail, new culinary concepts and the Pinellas Trail. The team is excited to get this project off the ground, and will continue to seek similar opportunities to expand our portfolio in Central Florida."

Groundbreaking will occur in April with the first units set to deliver in summer 2020. The Rosery will feature walk-out patios on first-floor apartment homes, along with a direct connection to the Pinellas Trail, the 38-mile walking and biking rail trail that stretches from St. Petersburg to Tarpon Springs.

"The Rosery will be Pollack Shores’ second project in Largo after our successful development and sale of Gateway North on Roosevelt Boulevard," said Brian Oates, managing director of Pollack Shores. "With recent reports showing year-to-year rent growth of almost 3 percent, the entire Tampa Bay area continues to outpace most other U.S. metropolitan areas in the multifamily arena. We’re eager to work alongside the Largo neighborhood once again."

In the next five years, Central Florida is expected to have 850,000 job openings, with 78,000 of those being new positions in health care, corporate office services, tourism, retail services and the construction trades.

"This area has quickly emerged as one of the most desirable locales in the Tampa Bay area," said Anthony Everett, director of Central Florida for Pollack Shores. "The Rosery will draw a mix of young professionals and active adults seeking to live in a walkable, urban-style environment. We look forward to welcoming our future residents and becoming part of this vibrant neighborhood."

The project will have a prominent public plaza at the corner of Rosery and Clearwater-Largo Road that will host public art displays and other pedestrian-focused activities. Other amenities include a resort-style pool, outdoor seating area, fire pit, hammock garden and club room with an Internet café.

The Rosery apartments will offer a variety of floor plans for one-, two- and three-bedroom apartment homes ranging from 688 to 1,372 square feet. Each unit will feature plank flooring, stainless steel appliances, modern cabinetry and doors, new light fixtures, granite counter tops and large front porches and walk-out patios.

Known for acquiring, developing, managing and investing in best-in-class multifamily communities, Pollack Shores is currently active in Atlanta, Orlando, Tampa, Jacksonville, South Florida, Raleigh, Charlotte, Charleston, Dallas, Austin, Nashville and Richmond. The firm is also the parent company of property management firm Matrix Residential, which has nearly 31,000 units under management across eight states.

(For more local news from Florida, click here to sign up for real-time news alerts and newsletters from Patch. If you have an iPhone, click here to get the free Patch iPhone app; download the free Patch Android app here.)

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Tampa City Hall seeks developers for 18 acres a block from the Hillsborough River

Tampa City Hall on Tuesday issued a request for proposals for two pieces of city property totaling 18 acres. The blue area, with an address of 2301 N Oregon Ave., consists of some youth baseball diamonds that are being moved to a new home in the West River redevelopment project. The pink area, at 2609 N Rome Ave., once was the site of a city utility truck and maintenance yard. (Rendering via city of Tampa)

TAMPA — Tampa City Hall has 18 acres of land a block from the Hillsborough River just north of downtown, and on Tuesday it invited developments to bring forth their best ideas and best offers.

“Three years in the making, these parcels are a blank canvas and will be transformative for the west side of the river,” Mayor Bob Buckhorn said in announcing the request for proposals. "I have no doubt that when completed this will be a destination for those flocking to Tampa to enjoy and for residents to treasure.”

The city is seeking proposals for two parcels west of the river, south of Columbus Drive and north of Spruce Street. One consists of the city’s old utility maintenance yard at 2609 N Rome Avenue. The other includes some ball fields at 2301 N Oregon Ave., that are being relocated as part of the larger West River development.

West River is a joint effort between the Tampa Housing Authority and the Related Group of Florida, based in Miami, to redevelop 44 acres that once were home to the now-demolished North Boulevard Homes public housing complex. Together, the housing authority and related are developing 676 mixed-income apartments, condominiums or other types of housing in five projects with a total investment of more than $121 million. Plans call for a total of 1,600 residences — half of them renting or selling at market prices and half of them consisting of subsidized affordable or workforce housing — plus hotels, retail and office space.

Buckhorn said developing the city’s land will complement the redevelopment of the North Boulevard Homes property "in a neighborhood that has provided Tampa with its diversity and rich history for decades." The city’s land is in the West Tampa Community Redevelopment Area, is part of a qualified Opportunity Zone, and may be eligible for tax credits offered to help pay for the cleanup of former industrial "brownfield" areas.

This is the most recent piece of vacant or unused city-owned land that Buckhorn has sought to redevelop. Similar requests in the past have resulted in the creation of Ulele in the city’s century-old water works building, Le Méridien Hotel in the old federal courthouse on N Florida Avenue, a new Harpoon Harry’s Crab House restaurant to the former home of the Tampa Bay History Center at the Tampa Convention Center, new apartments to Ybor City and, last week, a ground-breaking for a new dual-branded Hyatt tower next to City Hall.

Buckhorn has talked about the Rome Avenue equipment yard, which is just a block from the river, as a good spot for mid-rise apartments, but the city says in its request for proposals that it wants to encourage mixed-use and is open to residential, office, retail and hotel development. So it says it is looking for developers who have good finances, experience with those types of projects and an ability to exercise "architectural sensitivity to the proposed site" and how it relates to surrounding neighborhoods.

"A workforce housing component is strongly encouraged," the request says. Proposals are due to City Hall by 4 p.m. March 20. To see the proposals, go to tampagov.net/economic-and-urban-development and click on "Request for proposals."

MORE: Go here for more Business News

Contact Richard Danielson at [email protected] or (813) 226-3403. Follow @Danielson_Times

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Central Florida Apartments Command $50M

The Park at Palazzo

Blue Roc Premier has acquired Victoria Landing, a 352-unit multifamily community in Lakeland, Fla., from Mercury Investment, for $50 million. The deal was facilitated by Cushman & Wakefield. The property was rebranded as The Park at Palazzo after the sale.

“Right now, this type of property is highly sought after by investors,” Luis Elorza, Cushman & Wakefield’s senior director capital markets group in Florida, told MHN. “There’s a great deal of interest in value-add properties right now and there are value-add opportunities with properties built in the 80s, 90s, and 2000s. There is very strong interest in all of those.”

Since the property was built in 2007, Elorza noted that it’s on the newer end of the value space. “It has the bones of a newer property but it allows a new owner, with a reasonable amount of capital, to step in and make it compete with newly built property,” he said. “That created a very strong interest in the property.”

Amenities Second to None

Located at 3685 Victoria Manor Drive, The Park at Palazzo offers one-, two- and three-bedroom units with an average size of 1,089 square feet. Units boast walk-in closets, full-size washers and dryers, garden tubs, ceramic tile and some units have detached garages, microwaves, dens and walk-in showers.

“This property has over-the-top amenities,” Elorza said. “It has a full air-conditioned basketball court, an amazing fitness center and pool area. When it was built, it was a trend setter in high-level amenities.”

There’s also a business center, sand volleyball court, car care facility, gaming room with a billiards table, a yoga/meditation room, two dog parks and a pet washing station.

Mercury Investment acquired the property in April of 2014, and Elorza served as the broker for that deal as well.

“The strong interest in this deal stems from its location—it’s in between Tampa and Orlando, both highly sought after right now,” Elorza said. “The property is just off Interstate 4 with good drive times to both cities. Lakeland has great access to Orlando and Tampa and benefits from proximity to both areas as well.”

The garden-style property was 98 percent leased at the time of sale. Mercury Investment had done some improvements when needed to maintain the property during its ownership, but the buyer has a core-related value-add plan ready to go.

“The owner was very familiar with the market and when you are selling to someone who knows the market and owns in the market, it is a clear indication of the value in that market,” Elorza said.

Joining Elorza on the deal were Cushman & Wakefield’s Brad Capas and Robert Given.

In September, Blue Roc Premier listed The Park at Ravenna, a 242,490-square-foot apartment community in Tampa for sale.

Image courtesy of Cushman & Wakefield

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Caisse-backed Avision Young buys Florida real estate business

Avison Young has acquired Front Street Commercial Real Estate Group, a Gainesville, Florida-based commercial real estate brokerage and property management company.

No financial terms were disclosed.

Avison, a Toronto-based provider of commercial real estate services, said the acquisition brings its U.S. offices to 59 in all. Over the past decade, the company’s worldwide network of offices has grown from 11 to 87.

Last year, Avison secured a $250 million preferred investment from Caisse de dépôt et placement du Québec. The deal facilitated the exit of Canadian mid-market private equity firm Parallel49 Equity.

PRESS RELEASE

Avison Young acquires Front Street Commercial Real Estate Group, expands presence in North Florida; 26 members join

Nick Banks becomes Principal and Managing Director of new Gainesville office

TORONTO, Jan. 24, 2019 /PRNewswire/ – Mark E. Rose, Chair and CEO of Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has acquired Gainesville, Florida-based Front Street Commercial Real Estate Group, a full-service commercial real estate brokerage and property management company with operations throughout North Florida.

As a result of the acquisition, Avison Young opens its eighth Florida office, in Gainesville. The newest American office represents Avison Young’s 59th office in the U.S. and an additional step in the firm’s ongoing aggressive growth and expansion strategy. Terms of the transaction were not disclosed.

Effective immediately, Front Street is rebranded as Avison Young and 26 new members join the firm. Nick Banks becomes a Principal of Avison Young and Managing Director of the new Gainesville office. He will manage its day-to-day operations and lead the company’s strategic growth in Gainesville and across North Florida with a mandate to expand the company’s footprint, particularly in retail. He will also help Avison Young expand its service lines, particularly property management, in Jacksonville. Banks brings to Avison Young 25 years of commercial real estate experience, most recently as Managing Director of Front Street, which he founded in 2002.

“We are thrilled to be opening our first office in Gainesville and, at the same time, expanding our presence in North Florida,” comments Rose. “The acquisition of Front Street reinforces our strong foundation in Florida and assists our rollout in the northern area of the state, particularly in terms of retail brokerage and all aspects of property management. By bringing Nick and the rest of the Front Street team on board, we are adding individuals who are respected for their leadership, extensive industry experience and in-depth local and regional market knowledge. More importantly, they will fit seamlessly into our Principal-led, collaborative culture and provide a superior level of service to clients.”

Headquartered in Gainesville with additional satellite offices in Ocala, Sarasota, Jacksonville, Orlando and Tallahassee, Front Street serves a range of clients, from private individual investors to publicly traded corporations to international investment groups, in North Florida. The firm is a leader in the region’s commercial real estate market and offers services for all property types, including office, retail, flex/industrial and land. The company has developed particular expertise in retail property brokerage. Relationships with national retail brands as well as private and institutional owners of retail properties have fuelled the majority of the firm’s growth throughout North Florida.

Also joining Avison Young from Front Street are brokers Rick Cain, Jason Hurst, Gavin Johnson, Beau Broker, Nick Robinson, Mike Oransky, Tim Deardourff, Flavia Kanyago, Bobby Nickels, Jennie Bram, Andrew Smith, Keith Crutcher and Edmund Aramayo. Property management specialists joining are: Cheryl Carroll, Alex Ling, Terri Smaistrla, Fred Maccioli, David Sooy and Aaron Graham. Joining as administrative and marketing specialists are: Sue Fisher, Natascha Kehri, Virginia MacKoul, Sara Padgett, Dustin Walsh and Alexandra Morales.

Front Street currently manages 20 properties totaling more than 1 million square feet (msf) of office, retail, industrial and multi-family space, including hundreds of apartment units, in the North Florida region. Properties under management include Innovation Square, an affiliated entity of the University of Florida; and Tioga Town Center, a mixed-use town center consisting of approximately 150,000 sf of retail, office and multi-family units.

Today’s acquisition brings Avison Young’s total square feet of office, retail, industrial and multi-family properties under management in Florida to 19 msf. Avison Young has more than 120 msf of retail, industrial and office properties under management in North America.

“The Front Street team has established itself as a market leader throughout the North Florida region,” states Earl Webb, Avison Young President, U.S. Operations. “This acquisition will be highly beneficial to many of our occupier and investor clients throughout Florida. Front Street has built a high-quality service platform that provides creative real estate solutions, and Avison Young looks forward to growing our company’s presence in Gainesville, which we believe is an underserved market. Nick Banks has consistently provided excellent client service during his career while building a broad-based service platform at Front Street and other firms where he has worked. Additionally, the new team has a number of senior managers and brokers who will enhance our client-service capabilities in all asset classes and service lines.”

Front Street has earned a number of awards over the years, including No. 10 Fastest-growing Gator-owned or Gator-led Business in the World, from the University of Florida (2015); and Best Overall Small Business of the Year, from the Gainesville Area Chamber of Commerce (2014).

“With the opening of the new Gainesville office, Avison Young now has a strong presence in all of Florida’s regions,” notes Pike Rowley, Avison Young Principal and Managing Director of the company’s Florida region. “The acquisition of Front Street enables us to accomplish several goals as we attempt to expand Avison Young’s reach into North Florida and grow our retail service lines statewide. The Gainesville area has been a rapid-growth market in Florida, driven by the University of Florida and UF Health at Shands and the emerging industrial sector in Ocala.”

Rowley adds: “The acquisition enables us to bolster our retail service line in North Florida and, in one fell swoop, add brokerage and property management expertise in five other cities served by Front Street team members. Nick Banks is a strong leader who is deeply involved with the Gainesville business community. Furthermore, he is well-versed in the development and financial- underwriting area of the capital markets service line. He will be an integral member of our retail and capital markets practices.”

Effective immediately, Avison Young’s new Gainesville office is located at 132 NW 76th Drive.

“Our team has been humbled by the support we have received from clients and other stakeholders over the last 16 years as we have built the Front Street brand from scratch and then throughout North Florida,” says Banks. “We could not be happier about joining a company like Avison Young, whose collaborative culture and values match ours so perfectly. We are excited about being a part of a growing and entrepreneurial platform like Avison Young. We also look forward to discovering what the resources of a global, Principal-led company can do to enhance the service that we bring to our clients.”

Avison Young opened its first Florida offices in October 2012 in Fort Lauderdale, Boca Raton and Miami with Rowley joining as a Principal and Managing Director of the company’s Florida region. In May 2013, Avison Young acquired WG Compass Realty Cos. and opened a West Palm Beach office. In September 2013, Avison Young acquired Lane Witherspoon & Carswell Commercial Real Estate Advisors and opened a new office in Tampa. In November 2014, Avison Young acquired Morrison Commercial Real Estate and opened a new office in Orlando. In December 2014, Avison Young acquired Miami-based Abood Wood-Fay Real Estate Group. In April 2016, Avison Young announced a new office in Jacksonville.

Home to the University of Florida and Santa Fe College, Gainesville is well-known for its college-town atmosphere, including many shopping, dining and entertainment locations, as well as its highly talented workforce, live-work-play lifestyle, low unemployment and diverse economy. The city’s major industries include advanced manufacturing, education, healthcare, life sciences, IT, logistics, green technology and agriculture. Government also forms a large employment base and leading medical facilities offer numerous research, innovation and real estate-related business opportunities. According to the U.S. Bureau of Labor Statistics, Gainesville’s low unemployment rate (2.8% as of November 2018) sits below the state average.

Over the past 10 years, Avison Young has grown from 11 to, now, 87 offices in 78 markets and from 300 to more than 2,700 real estate professionals in Canada, the U.S., Mexico, Europe and Asia.

Today’s announcement follows Avison Young’s announcement on November 8, 2018 that it has entered into a definitive agreement to acquire U.K.-based GVA. Avison Young also opened its first office in Asia, in Seoul, South Korea, on November 1, 2018.

Biography

Nick Banks Nick Banks brings more than 25 years of commercial real estate industry experience to Avison Young. He was most recently Managing Director of Front Street Commercial Real Estate Group, which he founded in 2002. During the company’s first eight years, he developed and acquired office and retail projects in South Florida as well as in North and Central Florida. In 2010, he shifted the firm’s focus to third-party client service along with brokerage and property management services. Prior to founding Front Street, he was the director of finance and dispositions for Stiles Corporation in Fort Lauderdale, where he financed and sold more than $500 million worth of commercial properties. Before joining Stiles, he was an associate director at GE Capital Real Estate, where he sourced more than $200 million in financing throughout Florida.

Banks is a member of the International Council of Shopping Centers (ICSC), and founding co-chair of the Gainesville committee for the North Florida chapter of the Urban Land Institute (ULI). In the community, he serves as a member of the University of Florida Bergstrom Center for Real Estate Studies advisory and executive boards while also mentoring students and speaking at several of the school’s events. Earlier in 2018, Banks was named to the University of Florida Foundation’s national board. He recently served as the board chair for the United Way of North Central Florida and is actively involved with the Gainesville Area Chamber of Commerce, where he is a board member, executive committee member and committee member for the council for economic outreach. He is also a recent graduate of Leadership Gainesville, which is a year-long leadership program hosted by the chamber. Banks holds a Bachelor of Science degree in business administration with a major in finance as well as a concentration in real estate from the University of Florida.

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,700 real estate professionals in 87 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.

For further information/comment/photos:

Sherry Quan, Principal, Global Director of Communications & Media Relations, Avison Young: 604.647.5098; mobile: 604.726.0959 Mark Rose, Chair and CEO, Avison Young: 416.673.4028 Earl Webb, President, U.S. Operations, Avison Young: 312.957.7610 Pike Rowley, Principal and Managing Director, Florida, Avison Young: 954.938.1807 Nick Banks, Principal & Managing Director, Gainesville, Avison Young: 352.505.3884

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Tampa Bay Section 8 housing vouchers at risk with government shutdown

Housing for millions of families— now at risk! The federal government shutdown could create a lapse in section 8 vouchers, impacting local families.

PINELLAS COUNTY, Fla. — Housing for millions of families is now at risk. The federal government shutdown could create a lapse in section 8 vouchers, impacting local families.

Currently, the section 8 vouchers our local government offices in Tampa Bay issue are funded through February, but some local non-profits are set to run out of money in just a few weeks.

Kirk Ray Smith has a mission: to help others, no matter the cost.

“I think you have an obligation to meet that need and not doing that, well, I don’t know how humanitarian that is,” Smith explained.

His Clearwater non-profit agency R.C.S. (Religious Community Services) runs a food bank and also helps survivors of domestic violence have a safe place to live. Yet, the federal funding they rely on to carry out their mission could vanish in less than 3 weeks. On Monday, R.C.S. received notification that $25,000 used to fund their food banks would also not immediately be reimbursed because of the government shutdown.

“If the shut down doesn’t end soon, we’re looking at several months of invoices that will not be paid,” Smith said with a sigh.

Smith knows how much his families rely on stable housing, and he’s made a promise: “We will not be putting any families on the street as a result of this.”

Even if that means scrambling to find the money to pay their rent out of the non-profit’s limited budget.

“That makes it tough on us because we have to figure out how to cover our expenses,” Smith added, knowing that the federal government is already refusing to reimburse other expenses until the shutdown is over.

The even bigger concern with section 8 housing vouchers are private landlords. If the government shutdown lingers, some experts worry landlords will grow impatient and evict tenants who don’t receive section 8 checks to cover their rent.

Across the United States, 5 million families rely on section 8 vouchers to keep a roof over their heads. The vouchers pay for 70% of a low-income family’s rent.

On Monday, Pinellas County joined housing leaders across Florida, to write a letter to federal officials begging them to step in.

The Department of Housing and Urban Development (HUD) is one of the agencies hardest hit by the shutdown. About 95 percent of its employees have been furloughed during the government shutdown.

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Here’s what four experts predict for Tampa Bay’s real estate market in 2019

Experts predict a slowing but still healthy market for new homes and existing homes in Tampa Bay this year. [SUSAN TAYLOR MARTIN | Times

Trade wars, interest rates, extreme weather — all these factors and more could affect residential real estate in the Tampa Bay area this year. Will we see the same trends as in 2018, when prices rose due to a relatively scant supply of available homes?

To get some answers, we spoke with four experts — a Tampa Bay home builder; a top executive with an online real estate service; a vice president of Coldwell Banker; and a Tampa appraiser who had some interesting comments on how the popularity of HGTV’s Fixer Upper with Joanna and Chip Gaines has affected Tampa Bay’s market. (The interviews have been edited for length and clarity.)

Daren Blomquist, senior vice president of ATTOM Data Solutions, formerly RealtyTrac. The Califorinia-based company tracks data for more than 155 million U.S. properties.

"I see Tampa Bay shaping up similar to what we’re seeing in many markets, which is a cooling trend in 2019 with the rate of price appreciation slowing down. When you look at the third quarter of 2018, you have a year-over-year price increase of about 8 percent, which is still very healthy, but in the first quarter we were seeing a 10 percent increase and before that we saw a string of many months that were double digit going all the way back to 2015.

"The Tampa Bay market is still outperforming the national market and many others similarly sized including Phoenix, Charlotte, Austin and Nashville but we’re still seeing that trend toward slowing appreciation, which I think is a good thing. We were seeing unsustainable price growth over the last six years, and if it continued we’d be talking about, ‘Are we in another housing bubble?’ What really stands out is not just the price increase but that the increase in wages has not kept up. (Since 2012, home prices have risen 120 percent in Hillsborough County while wages are up 9 percent. In Pinellas, prices are up 110 percent versus 10 percent for wages.)"

Willy Nunn, president of Homes by WestBay and past president of the Tampa Bay Builders Association. In 2018, WestBay closed on more than 550 houses in new-home communities including Waterset and Triple Creek in Hilllsborough and Bexley, Connerton and Starkey Ranch in Pasco County.

"2018 was an incredible year and I think we will probably be down from 2018. The belief that interest rates were going to rise made the 2018 spring selling season exceptionally strong, and that demand was pulled forward. I think 2019 is going to be a more natural year. We look for the (new-home) market to be around 2017 levels for volume but prices are going to remain high. … It’s very difficult in a strong location to deliver product much under $300,000. In outlying areas, single-family homes may be available in the very low $200,000s but that’s like Hernando County and Polk County.

"There is no getting around this fundamental shortage of shelter at almost all prices. Land is expensive, land development costs are expensive, subcontractors are more expensive. Buildable lots are decreasing, things like flood plain and wetlands preservation take up a lot more land than is commonly considered. We have been affected a little bit by the Canadian lumber tariffs, but the China tariffs could make sourcing certain items more expensive such as lighting and countertops.”

Joni L. Herndon, Tampa-based senior residential appraiser, former chair of the Florida Real Estate Appraisal Board and 2019 chair of Florida Realtors appraisal subcommittee.

"I think 2019 is going to be a decent year, but it’s all about price point. Affordable housing is always going to have a strong market: Anything under $400,000 is hard to keep on the market and agents are having a hard time finding properties. Under $800,000, the interest rate is really very important. A lot of (potential) sellers have very favorable interest rates, some below 5 percent, some below 4 percent. Shaking those people loose out of that favorable interest rate is going to be very difficult as rates go up. I think inventory is going to continue constricting.

"What sells is what’s showing on the Internet. People go to realtor.com and they see that interior that looks like what they see on TV. Those that have the HGTV look, the look that Joanna Gaines does with the grays, the whites, the (white-ish) Carrara marble. She’s brilliant. (Light gray) goes with different fabrics, it changes color depending on if you’re on the water or not. It’s the trend now, it has been the last four or five years, and I think it’s going to continue. The beiges and yellows and gold colors are gone.”

Charles Richardson, regional senior vice president of West Central Florida, Coldwell Banker Residential Real Estate.

"I’m relatively optimistic (about 2019). We still have excellent pricing when you compare our market to other markets around Florida and the country. Our affordability index is still very desirable, we have corporate relocation activity with people moving into the market, there’s still a lot of in-migration. Florida is still going to have a lot of those benefits, they won’t go away.

"That said, inventory is growing right now. There is a little bit of a shift from everything selling in a week to people being very judicious with their evaluations of pricing. There is a great deal of knowledge by buyers because of their access — they can see every listing and all details so buyers are very concerned about making sure they are making the right purchase at the right price. There is a lot of study going into it.”

Contact Susan Taylor Martin at [email protected] or (727) 893-8642. Follow @susanskate.

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oestsetnochub · 5 years

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5 New Tampa Area Open Houses To Scope Out

NEW TAMPA, FL — House shopping online can be a frustrating process. To get a real feel for a house, you really have to visit in person. That’s where open houses come in handy: No more bumbling around in the dark!

Ready to see what’s out there? To jump-start your search, we’ve put together a list of the five newest open houses scheduled in the New Tampa area. That way, you can get a feel for what’s out there before making the big decision.

Below is an address, photo, price, home size and open-house time for each property on our list — including one in the Tampa area with 5 beds and 3 baths for $425,000, and another in the Tampa area with 3 beds and 3 baths for $172,000.

Want more information on one of the listings? Just click on any address to learn more. Enjoy!

1. 18105 Courtney Breeze Dr, Tampa, Florida 33647

Price: $425,000 Size: 3,016 sq. ft., 5 beds, and 3 baths Open house: Sunday, December 23rd at 11:00 am

Price: $350,000 Size: 2,465 sq. ft, 4 beds, and 2 baths Open house: Sunday, December 23rd at 11:00 am

Price: $349,900 Size: 2,859 sq. ft., 4 beds, and 3 baths Open house: Saturday, December 22nd at 12:00 pm

Price: $172,000 Size: 1,443 sq. ft., 3 beds, and 3 baths Open house: Sunday, December 23rd at 12:00 pm

Price: $348,900 Size: 2,650 sq. ft., 4 beds, and 3 baths Open house: Saturday, December 22nd at 11:00 am

Hungry for more? Keep scrolling for more listings. Or check out our New Tampa area real-estate section for a full list of nearby open houses.

Photos courtesy of Realtor.com

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oestsetnochub · 5 years

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Sunday Real Estate: 4 Great Florida Winter Mansions

MIAMI, FL — Sunday Real Estate features four great Florida mansions to take your mind off winter.

First, we visit a Coral Gables mansion set on four lush acres of tropical paradise. Next we head to a manor estate in the Tampa area built for a major league player with an appetite for the good life.

We travel to Sarasota and a $13.9 million home that represents island-living at its best.

Finally, we arrive at a private, gated estate in Lakeland with a gorgeous view of Lake Scott.

We found all of these great homes and more on Realtor.com.

CORAL GABLES, FL — This Coral Gables mansion offers the best of all worlds: Two hundred feet of waterfront property, four lush acres of tropical paradise and unmatched elegance. Priced at $37 million,… Read more

TAMPA, FL — Here’s a chance to own a manor estate built for Major League All-Star Fred McGriff. McGriff and his wife, Veronica have put their 11,768 Avila home on the market for $3.49 million. … Read more

SARASOTA, FL — Welcome to inspired island living in Sarasota with this $13.9 million waterfront estate. Located on world-famous Siesta Key, the home spans 700 feet of waterfront with an infinity… Read more

LAKELAND, FL —This private, gated estate in Lakeland sits on 3.5 beautifully landscaped acres. Priced at $2 million, the stunning property features an ornate library with built-in shelves and its… Read more

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oestsetnochub · 6 years

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Altman Companies Celebrates Topping-Off Of Altís Grand Central

TAMPA, FL — The Altman Companies, a rental properties developer, celebrated the topping-off of Altís Grand Central, a pedestrian-friendly residential development under construction in Hyde Park.

More than 300 construction workers, city officials, building and transportation inspectors and Altman Companies executives attended the topping-off ceremony on Oct. 26. During the event, a celebratory evergreen tree was hoisted up to the highest point of the apartment tower and a massive 15-foot-long American Flag was suspended from the top of the four-story parking garage.

Scheduled to be completed in late summer, the nine-story towers, located at 504 W. Grand Central Ave., are situated just south of the entrance of University of Tampa and north of Tampa General Hospital in an area that has become home to a collection of sophisticated dining, shopping and entertainment venues.

"We’re very excited to reach this construction milestone with Altís Grand Central," said Joel Altman, chairman of The Altman Companies "Residents of Altís Grand Central will be part of the Grand Central District, the most unique and vibrant neighborhood in Tampa. They will be a part of Tampa’s cosmopolitan experiences just steps from work or a brief walk or bus-ride to downtown at two of the city’s finest institutions."

Residents of the 314 apartment homes will experience panoramic views of downtown and Tampa Bay from the apartment tower’s rooftop sky lounge and pool. When relaxing, residents will enjoy amenities including a luxe sun deck, his-and-her spa, a Zen garden, fire pit, a barbecue area, a high-tech dog park and a dog spa for pet owners.

The clubroom will be equipped with a gaming area with a pinball machine, PlayStation units, a movie theater, a pool table and a chic bowling lounge. In keeping with Grand Central District’s walkable environment, the towers will have shopping and dining on the ground floor.

The Altman Companies are offering studio, one-, two- and three-bedroom apartment homes with floor plans that range from 619 to 1,380-square-feet and secured parking with car charging stations on every level.

Most of the apartment homes will be equipped with balconies. Residences on the ground floor will enjoy a fenced, gated backyard.

For more information, click here.

Images via The Altman Companies

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oestsetnochub · 6 years

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Port Tampa Bay negotiating to move ConAgra flour mill to Port Redwing

SKIP O’ROURKE | Times] TP_361124_OROU_ConAgra (Photo #1 of 1) (10/15/2012) (Tampa, FL) The ConAgra plant located at 110 S. Nebraska Avenue in Tampa has been a part the downtown Tampa skyline for years. The mill produces flour. SKIP O’ROURKE | Times

TAMPA — After 80 years near downtown Tampa, the ConAgra flour mill could be headed to a new home with a Port Tampa Bay berth north of Apollo Beach.

Ardent Mills, which owns the plant, would lease about 10 acres at Port Redwing under proposed lease terms expected to go to the board of Port Tampa Bay on Dec. 18. During negotiations, the possible move has been known as “Project Hawk,” according to port records.

Ardent Mills agreed to move the plant after selling its downtown property to the developers of the $3 billion Water Street Tampa project last month. It says it wants to have a new mill in operation sometime in 2021.

A TRANSFORMATIONAL DEAL: Water Street Tampa developers buy ConAgra flour mill for future expansion of their $3 billion project

At this point, the terms headed to the port board are basic and non-binding on both the port and Ardent Mills, a joint venture between ConAgra and two other agri-business companies. If both sides proceed, they would be written into a more formal and detailed agreement that would require another round of approval.

The port said it identified 10 acres zoned heavy industrial at Port Redwing in response to Ardent Mills’ site requirements. Depending on what the mill needs, the port has said additional acreage might be available.

The lease would run for 40 years, and Ardent Mills would have 12 months to perform its due diligence, get permits and design its facility.

Starting after Ardent Mills builds its mill, or in the fourth year of the lease, the company would pay the port rent starting a $24,000 per acre per year, or $240,000 a year, indexed to the consumer price index. After 20 years, the rent would be adjusted to reflect market conditions.

The mill would be expected to handle at least 450,000 tons of material a year, with at least 100,000 tons of it being moved by ship. The port’s railroad can currently handle trains of 100 cars, but the two sides are talking about expanding that, at the mill’s expense, to accommodate 110-car trains.

Ardent Mills said Thursday it "has explored several sites, including sites not owned by the Port of Tampa Bay. Most of the sites explored, including Port Redwing, are located within the Tampa region."

"The schedule for construction of our new mill is dependent on the successful negotiation of final agreements mutually beneficial to both Ardent Mills and owner of the selected site," company spokeswoman Mary Ann Strombitski said in a statement. The port property, as well as the others the company looked at, allow "Ardent Mills to flexibly serve the current and future growth needs of our customers in the great region of Tampa and throughout the state of Florida."

Meanwhile, Strategic Property Partners, the development company formed by Tampa Bay Lightning owner Jeff Vinik and Cascade Investment, a capital fund launched by Microsoft founder Bill Gates, plans to expand Water Street Tampa onto the former ConAgra property once the flour mill moves out.

“We’ve expanded the footprint of the project all the way up to Whiting Street,” Strategic Property Partners CEO James Nozar said this week.

Built in 1938, the 80,000-square-foot flour mill grinds wheat around the clock and ships 1.5 million pounds of flour a day to bakeries across Florida, the Southeastern United States and the Caribbean.

But the mill was built in 1938, when the southern part of downtown was a working waterfront dominated by heavy industry, shipping, warehouses, and rail yards. Since the 1990s, a slow evolution has been underway, with the port attracting more cruise ships, apartments and condominiums going up in the nearby Channel District, Amalie Arena drawing crowds for hockey games and concerts, and the Riverwalk opening the waterfront itself to recreation.

Now Vinik and Cascade are poised to turbocharge that transformation. With 9 million square feet of planned development spread across about 50 acres, Water Street Tampa is expected to include three hotels, downtown’s first new trophy office tower in 25 years, a new home of the University of South Florida’s Morsani College of Medicine, three apartment complexes, a grocery store, new park space and dozens of restaurants and shops. Strategic Property Partners also plans to re-invent Channelside Bay Plaza as Sparkman Wharf, with its first 10 restaurants opening on Nov. 30.

Had it stayed in place, ConAgra would have remained a jarring counter-note to Water Street Tampa’s plans to create a live-work-play neighborhood next door.

“This will complement Water Street,” Tampa Mayor Bob Buckhorn said of the move, while allowing “Ardent Mills to build a modern, far more efficient facility in a location that’s more conducive to the work that they do.”

Contact Richard Danielson at [email protected] or (813) 226-3403. Follow @Danielson_Times.

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oestsetnochub · 6 years

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Additional Information About 9210 Tillinghast Dr, Tampa, FL 33626

9210 Tillinghast Dr, Tampa, FL 33626 9210 Tillinghast Dr, Tampa, FL 33626

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oestsetnochub · 6 years

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Group working to bring more affortable housing to Tampa’s ‘Suitcase City’

An area of Tampa near the University of South Florida carries the nickname “Suitcase City.”

The apartments are not well-maintained, and there is no sense of permanence, hence the nickname.

For 20 years, the University Area Community Development Corporation has been improving the lives of people who live there. Creating affordable housing has become a big priority.

Katie McCall spoke to a resident, Albert Burrus, who has his eyes set on one of the hundreds of homes being built on what are now vacant lots.

Burrus has worked hard on his education: “I graduated last year from culinary arts. I feel damn good. That’s steps ahead, to better me, and my life, for my daughter and my wife.”

Says Burrus, “Once you get that education, move forward, build on it for you and your family.”

A staggering 80 percent of residents in Suitcase City are below the poverty level. Its crime rate is more than 20 times higher than the state average. Unemployment is four times higher.

Of its residents, 90 percent rent. Most of their landlords are hard to locate and don’t live in the state.

Burrus has felt the sting of that reality.

“This area it is a bunch of slumlords. they don’t care two ***** about the property, or the people, or nothing.”

The nonprofit CDC has purchased 18 lots in the heart of Suitcase City to build affordable housing for the people who live here.

Linda Ladonis, who manages the affordable housing projects, points out how challenging their work is.

“Most of the people in this area pay more than 50 percent of their gross income just for rent,” says Ladonis.

The CDC has plans to build two new apartment complexes, adding to the two it already operates, 10 homes with Habitat for Humanity, and two modular homes. That’s 123 homes in all.

But there are 300 families on the corporation’s waiting list for affordable housing.

Burrus’ family is one of them, and he is determined to get one of those homes

“Just that willpower and determination, you got to have that spunk, in order to get somewhere in life,” he says.

With a sparkle in his eye, he looks at one of the lots, right across the street where he lives, and smiles.

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