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Like He Says…Don’t Worry About Downtown Tampa
December 14th, 2007 categories: Tampa Real Estate, New Projects (Condos), Tampa Market Conditions
Great article in The Tampa Tribune this morning regarding downtown Tampa’s forthcoming resurgence. The article is written by a lifelong Tampa resident and land use attorney, who has rezoned many of the residential projects in downtown Tampa. He points to the fact that just as the revitalization was gaining momentum, the residential real estate market tanked, leaving many of the new condos empty, and leaving other projects, such as Trump Tower, on the back burner so to speak.
And while there are some who may be bearish on Tampa’s downtown, I would certainly agree with Mr.Gardner that when the market stabilizes, we’ll see new residents filling those empty spaces quickly. I sense quite a bit of pent up demand for downtown out there, but many would-be downtown/Channel District buyers are afraid to commit. And who can blame them with the inventory that came on the market all at once (purchased mostly by speculators… see: Condos Suck), and the feeling that no one else is out there buying alongside of them?
But let’s face it, with all the cultural venues, newly opened restaurants and bars, The Forum (Ice Palace), Channelside, The Florida Aquarium, Ybor City, etc., all nearby, downtown Tampa is a major activity core. And for the individual who prefers to have work and play all within a short distance, downtown Tampa will be the place to be.
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