New Real Estate Development in Tampa Bay

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A Look into Tampa's Growing Neighborhoods in 2020

 

In the past few years, we have watched the once sleepy bay area transform into a vibrant city with pockets of lively neighborhoods. A variety of creative restaurants and rooftop bars emerged as well as chic residential dwellings.

 

A billion-dollar investment from Bill Gates attracted technology and consulting companies like ConnectWise and PriceWaterhouseCoopers. Multiple new Amazon facilities and the possibility of becoming the headquarters for Space Force is also sparking interest in the Tampa Bay Area. Many neighborhoods have been brought to life such as Channelside, Hyde Park, and the southernmost point at Tampa’s Marina Pointe Westshore! The sprawling city is still experiencing massive growth in areas outside of the downtown areas.

 

Earlier this year, BTI Partners and Jane Castor broke ground at Marina Pointe Westshore in South Tampa. Luxury condominiums are in the works along with boat slips and a retail and restaurant area. The retail space will feature a boutique grocery market, wine bar, spa, and much more! Luxury townhomes by WCI and the Westshore Yacht club are within walking distance as well. The location is adjacent to MacDill Airforce Base and Route 92 to St. Petersburg. Pictured below are photos from the model townhouse at WCI. Completion is estimated for the end of 2021, definitely a location to watch.

 

Another area on our watchlist is Riverview. For those that prefer a suburban vibe and are in the search for more space, Riverview might be for you. The median home price is around $250,000 making Riverview an attractive area for first-time homebuyers. According to the Tampa Bay Times, this area has attracted half of all the new construction homes in the entire Tampa Bay Region.

 

Riverview’s Ventana community is under construction and includes 3 major builders: Lennar, Pulte, and M/I Homes. The demand for new construction homes has increased due to low inventory caused by COVID-19. We have helped multiple clients go under contract just in this community this past year. The location cannot be beaten as it’s just a quick hop on The Selmon Highway will get you back to downtown in 20 minutes.

 

Right outside of Tampa, in Pasco County, a massive community is in the works called Bexley Village. Right off Veterans Highway, this new community boasts its own grade A elementary school, a coffee shop café, nature trails, and much more. There are about 800 homes built and they expect a total of 1300 total. You have the option of 7 different builders including Lennar, Pulte, and Arthur Rutenberg to name a few. Right outside of the community they plan on building a town square with shops, salons, and restaurants.

 

Despite the pandemic, Tampa’s residential and commercial real estate continues to grow. The lockdown increased out-of-state interest even more. Buyers are looking for more space and to live where they can be comfortable outside year-round. We see a bright future for the Tampa Bay Market and look forward to watching our city continue to flourish.

 

 ~SI Real Estate Tampa

 

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