OVERVIEW
Located in the heart of Hillsborough County (shown above- ranked 30th largest county in the U.S.), the Tampa Bay area is in the Top 25 Fastest Growing Cities in the U.S. (Forbes Fastest Growing Cities of 2018). Billions are being invested 2018-2021 by investors such as Bill Gates and former Hedge Fund Manager, Jeff Vinik (owner of Tampa’s Lightning hockey team). Major plans are being developed for enhancement of existing transportation as well as new forms of transportation to compliment the area’s future growth, including a new rail line from Orlando airport to Tampa (compliments of Brightline-Virgin Rail, owned by Virgin Group/Richard Branson). Surrounded by water including the Hillsborough River which runs through and around the city, and Hillsborough Bay which ultimately leads to the Gulf of Mexico, Tampa is now on the national radar for companies, real estate investors and developers and future residents. Tampa is considered to be a commerce city, but is also quickly becoming a cultural and “active” city. Metropolitan plans and current development also includes plans for the addition of miles of biking and walking paths to various local neighborhoods to make it a more pedestrian and bike-friendly city.
St. Pete/Tampa Metro Areas
The 2019 forecasts show Tampa/St. Pete as a combined metropolitan region and indicate it as a growing area, according to the 2019 Urban Land Institute-PWC Emerging Trends in Real Estate Report (see page 37). Among “18-hr. cities” (or secondary markets), the Tampa/St. Petersburg market was listed in the top 10 “U.S. Markets to Watch”, ranking #10 in the “Overall Real Estate Prospects” and #2 in “Homebuilding Prospects”. 61% of survey respondents recommended Tampa/St. Pete as a city to continue to “Buy” in, 21% voted it as a “Hold” and 18% voted it as a “Sell” (see page 39) and had an overall “Strong” outlook for our bay area (see page 40). Tampa/St. Pete was also ranked #12 in “Development/ Redevelopment Opportunities”. Just take a drive around the downtown Tampa area (central, NE, NW, North sides to see what this report is talking about. Development is everywhere. The same is true for St. Pete. Survey comments from participating companies and developers were as follows: “Steady population and job growth”; “Friendly local and state government”; “Market is still relatively low-cost”; “Increasingly recognized as a major market”; “Has an electric and vibrant feeling”; “Highly valued and desirable quality of life”; “Mixed-use development has finally started downtown”; “Broadening economic base”; ‘Business and financial services job growth is improving”. Our Managing Broker-Associate, Stacy Kitchell, has certainly seen this to be the case. In November 2018, she attended a 2-day symposium held by DreamIt Ventures (Jeff Vinik is a partner and board member), and was amazed at the plans for the Tampa Bay area. They are too numerous to list. Opportunity is everywhere. Call Stacy for detailed information on investment opportunities in this fast-growing city.
HOME TYPES
- Condos (hi-rise)
- Most housing is located in South Tampa (see above), Davis Island, and Harbor Island
AMENITIES
- Public Parks/Playgrounds w/Spraygrounds
- Waterfront Parks/Fishing Piers
- Public Boat Ramps
- Bayshore Blvd. Walking/Jogging/Biking/Rollerblading Path along Hillsborough Bay
- Cultural Scene
- Riverwalk area with Water Taxis, Water Sports
- USF Morsani College of Medicine and Heart Institute – Opening Fall 2019
- University of Tampa (Private University) – 10,000+ Students
- Hillsborough River – Kayaking, Boating Downtown Festivals
- Tampa Bay Lighting Team (National Hockey League/NHL) – 20,500-Amelie Arena
- Tampa Bay Buccaneers Team (National Football League/NFL) – 65,618-seat Raymond James Stadium
- Spring Training Home for the New York Yankees (Major Leage Baseball/MLB) – 11,026-seat George Steinbrenner Stadium
TRAVEL TIMES
- Airport = 20 mins.
- Beaches = 45 mins.
- Reg’l Mall & Major Shopping = 10 mins.
- Hospital = 5 mins.
OTHER PHOTOS OF AREA
