Sales of Tampa Bay homes plunge in December

Sales of single family-homes in the Tampa Bay area plunged in December as prices again rose. In one good sign for buyers, though, the supply of available homes continued to inch up, with Pinellas County having its largest supply in at least three years. The bay area market reflected those statewide and nationally, both of which saw a slump in…

St. Petersburg apartment building sells for near record $107 million

The Hermitage apartments in downtown St. Petersburg have sold for $107.6 million, a near record price per unit for a rental project in the Tampa Bay area. The eight-story, two-year-old building at +just east of the city’s thriving Edge District was purchased by Dedicated Hermitage LP, which has a Toronto, Canada, address. The Hermitage’s new owners paid $309,267 per unit,…

St. Petersburg’s Fusion 1560 sells for $81.1 million in mega apartment deal

Fusion 1560, a 325-unit complex that was in the vanguard of St. Petersburg’s apartment boom, has sold for $81.1 million to a giant Chicago firm that manages Tampa’s International Plaza. The price is nearly $25 million more than Fusion sold for three years ago, a sign of the rebirth of the city’s once seedy Edge District. And at nearly $250,000…

Tampa Bay homes values soared in 2016 but so did rents

Happy New Year, Tampa Bay — you’re worth more than you used to be. In the year just ended, the total value of the bay area’s housing stock soared 10.3 percent, nearly twice as much than the nation as a whole, according to a new report from Zillow. Dollar-wise, bay-area homes collectively exceed the market value of such giants as…

New apartment building planned for St. Petersburg’s growing Edge District

A South Florida company has started work on a 218-unit apartment building in St. Petersburg’s increasingly vibrant Edge District. The five-story Bainbridge 930 Central Flats on Central Avenue will have studio, one- and two-bedroom apartments renting for about $1,160 to $2,500 a month. They will be in the heart of a once-tired area on the fringe of downtown that is…

Development is making St. Pete and Tampa downtowns more pedestrian friendly

All those apartments, condos and houses going up in and around downtown St. Petersburg are giving the city a boast-worthy distinction — it’s among the nation’s top 10 urban areas for “walkable new construction.” And Tampa isn’t far behind, according to the national real estate brokerage Redfin. While many parts of the Tampa Bay area remain inconducive to a pleasant…

Nearly 10 years after the housing crash, here’s how condo sales are doing in Tampa Bay

On St. Petersburg’s Beach Drive, one penthouse sells for a record $6.9 million. A nearby penthouse, not even finished, goes under contract for $2.95 million. The city’s downtown condo market may be in a league of its own, as many Realtors agree, but condo sales throughout the Tampa Bay area are bouncing back after their disastrous crash a decade ago. In…

Tampa’s West Shore area to get upscale 323-unit waterfront apartment community

Construction is expected to start this summer on Seazen, a 323-unit waterfront apartment community in the Rocky Point area of West Shore. Insurance giant Northwestern Mutual and Orlando developer ZOM Florida announced Thursday that they are partnering on the project at 7616 W Courtney Campbell Causeway. It currently is the site of a popular Chart House restaurant. “The moment I…