Market voices: Transformation
Mike Griffin
Senior Vice President & Market Leader Savills
Besides continued rental rate increases and new development, one important factor is what’s happening around the University of South Florida in the Uptown area of Tampa. A lot of great things are happening there. The mall located in Uptown is the last piece of the pie and I would say, for the next 12 months, that is what I’m most excited about. I am focused on helping make that transformation occur because once that’s happened, there will be a greater connection to the growth that is happening north of there, with all the development opportunities between Interstate 275 and USF, the transit connection possibilities and the integration with USF, Moffitt, AdventHealth and the VA. I’ve never been more optimistic in my 18 years of working in this market. All the pieces are in the right place.
There are several exciting real estate trends happening in our area. The Water Street & Channelside District is completely changing our skyline and will improve how we live, work and play in Downtown Tampa. This exciting urban development has become a mecca for those who enjoy the perks of condo living along the river and for healthcare, thanks to USF Health’s medical school being in the center of it all. Seminole Heights & Tampa Heights have seen a surge in home values due to its proximity to downtown, its hip neighborhood charm and the advent of Armature Works. Soon the new 52 acre Westshore Marina District on Westshore Blvd near Gandy will be complete and will provide a fresh, contemporary community for waterfront living, shopping, dining and recreation.
Andrew Wright
CEO & Managing Partner Franklin Street
Mary Jane Rickles
Founder Live Well Team of Tampa Bay – Keller Williams
One of the ways that the growth in this region could be limited is if our infrastructure and local government are not able to keep up with the needs of the growing community. For example, we have seen transportation tax initiatives shut down time and time again over a 40-year-period. That being said, there has been a significant effort here locally. We saw that recently, when Hillsborough County voted in a 1% sales tax, which will be really transformative for the region. As we are hitting peak growth in this region, addressing transportation has now come to the forefront. We also have seen initiatives like the Florida Department of Transportation funding the $1.4-million-dollar infrastructure improvement over the I-275 West Shore interchange, the redevelopment of the Howard Franklin Bridge, and the concept of bus rapid transit and a multimodal hub station. As we start to see more of these types of initiatives, it will support more growth all around them.
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