It begins: Tampa’s condo construction boom is finally under way
After a construction drought that lasted more than a decade, Tampa’s condominium market is back.
Seven projects are proposed or under construction in Tampa: two on Bayshore Boulevard, three in downtown Tampa and one on the Westshore and Gandy waterfront. All of them feature large units, aiming for luxury buyers in single family homes who want a condominium lifestyle without losing too much square footage.
The return of condo construction is a bellwether for the overall real estate market, signaling confidence from lenders — on both the retail and commercial sides — as well as buyers. Condos were one of the hardest hit sectors during the Great Recession, and one of the last market segments to recover. The condo recovery has been particularly slow in Tampa; downtown St. Petersburg has seen a boom of condo construction in recent years, including ONE, a massive 41-story, 253-unit tower. Read More >