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How many condo's will be done or have cranes by 2009?

  • 15

    Votes: 7 20.6%
  • 20

    Votes: 15 44.1%
  • 25

    Votes: 5 14.7%
  • 30

    Votes: 6 17.6%
  • 40

    Votes: 1 2.9%
1 - 20 of 39 Posts

1,062 Posts
Discussion Starter · #6 ·
Or have cranes....

Novare 2--- 34 stories
Skypoint 32 stories
TOC 2-- 30 stories
Harbour Island 20 stories
Trump Tower 52 stories
Grant 44 stories
Martin 22 stories
Cresent at Bayshore 28 stories
Maas Brother site 33 stories

There's 11 right there for sure..

Others that could be in crane stages..

Tampa Tower
Tampa City Lofts
Blu Channelside
Newks Property
The new Floridian

11,264 Posts
I'm actually going with about 30 projects U/C or completed by the Super Bowl.

These for sure.....

Skypoint 2
Skypoint 3
Residence @ Franklin
Grand Central
Towers @ Channelside
Place Phase 1
Plaza at Harbor Island
1000 Channelside

These almost for sure (I say about 3/4 of these, maybe more or less)

Place Phase 2
Grant and/or Kress
Tampa heights
Central Park
Citi Lofts
Seaboard Square
Crescent Bayshore
C Condos
View (or whatever gets built there)
Rocky Point Westin
Teleconference Tower

Maybe/Probaly (about 1/2 of these, maybe more, maybe less)

Tampa City Lofts
Museum Tower
Tampa Tower
Tampa Bay 1
102 whiting
Hyde Park Tower

^^Thats 40 projects right there and I'm sure I'm missing a few, so I will guess about 30 and can justify it. Plus anything yet to be announced as well. :)

2,994 Posts
I have a feeling the market is about to collapse, just look at miami, many projects are being cancelled, land is being sold, and developers are going bankrupt left and right.

so I think tampa and all of florida will soon follow, hopefully Im wrong, anyways i think atleast 20 will be built.

1,384 Posts
god I hope not because I want Tampa to start getting a bigger skyline, as do all of us. Also, I do not want to have to wait another decade for a skyline boom.

2,228 Posts
tampamobster21 said:
god I hope not because I want Tampa to start getting a bigger skyline, as do all of us. Also, I do not want to have to wait another decade for a skyline boom.
Who said it'd be as short as a decade to recover?

You ought to be worrying about what Tampa would look like with several half-finished projects looming in the skyline but with no construction happening on them.

If they were building apartment buildings that were affordable to all, they wouldn't have a problem... Instead you have these projects that start at high-end costs and go to obscene amounts of money. There is only so much market for stuff like that.

That's not even talkign about financial institutions that have stretched their lending dollars to the brim and beyond their capacity to underwrite some of these projects.

If this boom had started in the mid 1990's (construction in Tampa), you wouldn't have to worry doomsday scenerios of the market collapsing... With how fast real estate has become the new tech-bubble, you need to start worrying when that baloon is going to burst and what the consequences will be.

424 Posts
John F said:
With how fast real estate has become the new tech-bubble, you need to start worrying when that baloon is going to burst and what the consequences will be.

It is inaccurate to compare a real estate "bubble" to one that occured in the stock market.

1.) Real estate has tangible value. Stock can loose all of its value becoming worthless. This generaly never happens with real estate.

2.) Real estate is far less susceptible to panic selling then stock. Selling real estate occurs in slow motion compared to decisions made in the stock market. Bank involvement and appraisals can temper irrational decisions. (Interest only loans being the exception). The majority of residential property owners wait out tough times before they sell homes for a loss.

3.) Residential real estate is what it is at face value. ALL public corporations use creative accounting to make themselves look good - some get more creative then others and make "billions" of dollars in "mistakes".

I don't believe that Tampa Bay proper will experience a real estate bubble.

1.) Tampa is still MUCH less expensive compared to major markets around the country.

2.) Baby boomers are just starting to retire and move to Florida. Many are selling much more expensive homes up north to come down here. There continued to be a strong demand to move here. Hillsborough county had one of the higherst population growths in the country during the last five years - yet there is a scarcity of new home development in Pinellas and Hillsborough.

3.) So much of Pinellas and Hillsborough is waterfront. Waterfront property is even less susceptible to bubbles due to its high demand. Which would you rater have - a 900 sq. ft. shack in San Jose, CA for $600,000 or a 2500 sq.ft. home on the water in Tarpon Springs?

As for the slowdown in Miami - the condo boom in Tampa did not even compare to what happened in Miami. Not by a longshot.

138 Posts
If we're just talking about DT, Channelside and Harbor Island, I 'd 20 -25 would be a realistic number. I'm in the mortgage industry and the Tampa market is forcast to remain "above average" in new construction over the next year with a increase in Foreign Nationals buying into this market as Miami is becoming over built. I'll try to find a few articles to back this up as our area is still considered "strong" as compared with other areas around the country.

Senior Button Pusher
17,728 Posts
I don't think it will be as many buildings by 2009 as most people think.

[edit] And like someone else said, this area shouldn't experience a price bubble in real estate. The market will simply slow down a good bit, and the prices will move more laterally for a few years or so. But there is way too much job and population growth for prices to take a lasting nose dive.

241 Posts
It's all about supply and demand. Supply in Miami was growing at insane rates while real demand has remained constant - perceived demand was uncharacteristically high because of intense investor focus after the stock market crash, and although that applies to real estate activity all over Florida, markets in Jax, Orl and TB cannot be compared to Miami because of factors like Miami's size and more international market. However I believe markets in Jax, Orl and TB are now in a better position to sustain their real and proposed growth because of that. Strong demand (in Florida relative to the country) will not disappear because of baby-boomer retirees, strong job market, and tourism fueling investment, and that will largely sustain Tampa's projects. There's no bubble burst to be realized in Florida (only a slow down), the exception may be a stronger slowdown in Miami.

How many condos in Tampa? It may depend on the investor money supply moreso than supply and demand in the real estate market.
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