Saturday, November 25, 2006

Skypoint Tops Out?

Skypoint has what looks to be a unwrapped Chritmas tree on the top floor(right). Sounds like there should be a topping out party coming up! Here's a pic from the webcam....

Saturday, November 11, 2006

Verano or Invierno

The much hyped project in Hyde Park "Verano" will not be built - instead the plan is to build an office complex... This was a good project but the timing was off.

Sunday, November 05, 2006

Tampa's condo market softens

We already knew that most of the projects in this St Pete Times article weren't going to happen, but I never though Wood Partners would be on the list. They demolished the Maas Bros building (adj pic) and were supposed to build reasonably priced units (200k-450k) I heard they were even thinking about making half the building rentals. Intersting how the market has demolished their hopes of building...

Wood Partners, the Atlanta team behind a condo tower on Kennedy Boulevard, have canceled contracts with 30 buyers and are seeking a new way to finance their project. Their plans to build a 32-story condo tower on the site of the old Maas Brothers building, which has been demolished, are on hold indefinitely

will SimDag shelve TTT???
SimDag bagged its plans for the 280-unit Plaza at Channelside and is looking for a hotel chain to partner with on the site.

Doran Jason group has owned the Kress for over a decade- they were clearly over their he meantime the bldg sits and rots...can anyone say Maas Bros part II....

Jeanette Jason was part of a group that planned to build three high-rises with nearly 1,000 units on the block occupied by the old Kress department store. The property is now for sale. "A lot of banks aren't touching condo projects at this point," Jason said.

Every project approved last week by City Council and most of those already announced in downtown are moderately priced- ie. Element. We should know relatively soon whether or not this statement is correct...

There's still a market for condos priced below $500,000 a unit, he said. "I wouldn't want to be selling $1-million units right now, but the moderately priced stuff, my thinking is going to do just fine," he said.

here is a great quote from one of the developers...
"Five years from now, the discussion is going to be about all those $700,000 and $800,000 condos downtown that you can buy for $300,000," he said.

some hope...
Meanwhile, those with projects in the planning stages are waiting for the price of construction materials to level off so they can build reasonably priced units to attract the young professionals who are most likely to be interested in urban living.
Even if the boom has ended, developers don't believe downtown is a total bust. Most see the change in the real estate market as a correction that will result in condos being built at a slower pace and bought by people who will actually live in them instead of investors.

Saturday, November 04, 2006

Tampa Palms Condo - Going Once....twice....

Do I hear $50,000?
The auction is scheduled to begin at 10 am on Dec. 9 at the Grand Hyatt Tampa Bay, 2900 Bayport Drive, with registration beginning at 8 a.m.

TBO- TAMPA - More than a year after launching one of the area's most expensive condo conversions, Bay Communities is trying a novel approach to unload its unsold units at The Hamptons in Tampa Palms.
The developer will sell 100 condominiums on Dec. 9 at a public auction, 40 condos will be sold "absolute" - awarded to the highest bidder with no minimum bid (15 three-bedrooms, 20 two-bedroom and 5 one-bedroom)
With 13 condo conversions in one year, most New Tampa developers gave up and started leasing the units again. The Hamptons has 315 units, and they were the priciest conversions in New Tampa, with a three-bedroom garage unit listed for $309,900. As of this summer, Bay Communities had sold just 70 units.
The developer owes the county $1 million in back taxes. The Tampa Palms Owners Association also has a lien on the property for unpaid dues.
"Our intention is to sell these units with a clear title," said Carl Carter, spokesman for J.P. King Auctioneers. "There will be no surprises."

Friday, November 03, 2006

Channelside is moving on up

If this gets built along with Novare's(which should definitely get built) add the Place's point tower and Channelside will go from short and boxy to tall and skinny. Developer Finergy is planning residential condos and a hotel on this site. The 25 floor tower portion will have 5 units per floor. There will also be a plaza facing Kennedy. Architect: Urban City (655 N Franklin)

by the folks who brough you Skypoint

is The latest Novare project to be announced...It will be in the Channelside district - 30 stories, 380 feet with approx 425 units. The original design was much bulkier and did not include as much neighborhood input. The first pic is a model of Channelside, the Novare bldg is in the middle, the bldg with levels. Behind it is a The Place II. Note the large park/green space they've proposed. I'll post more renderings when available.