Tampa Area Set To Boom With New Master Planned Communities
Florida’s Tampa region is exploding with new growth and development, and commercial real estate investors are eyeing a unique opportunity to profit from it…
It’s no secret that the city of Tampa has been exploding with development over the last couple of years. The downtown area has experienced tremendous redevelopment and expansion. Exciting new buildings and communities have gone up. New commercial tenants have created a vibrant lifestyle and new walkable communities and buildings for all ages have rolled out more luxurious offerings and amenities. Rents and prices have risen substantially, and authorities have gone above and beyond to raise the bar and clean up the city.
Now large new master planned communities in Hillsborough and Pasco County are expected to both accommodate and create an extended boom. Major employers are moving in, the widening of the Panama Canal is finished and will provide more commerce opportunities, while there is no shortage of workers and families desperately seeking affordability.
These new master planned community developments include: Starkey Ranch, North and South Bexley, and Mitchell Ranch.
- 2016 Award of Excellence by the Florida Chapter of the American Society of Landscape Architects
- 2016 Master Planned Community of the Year – National Association of Home Builders
- 2,400 acres
- New K-8 school and extensive list of amenities
- 333 acres
- 800 residential units
- 980,000 square feet of commercial and non-residential space
- Vibrant mixed use community
- Two communities North and South
- Over 7,000 acres
- Over 13,000 homes, apartments, and townhomes
- Almost 1M square feet of commercial retail and office space
These developments are sure to make an incredible impact on commercial real estate in the Tampa region after all these rooftops go in. Although some of these may not be completely finished for another 20 years, we are looking at a period of great growth for commercial real estate investors, and great timing for acquiring properties with attractive value and yield.