Lack of apartments downtown

1952 Views 2 Replies 3 Participants Last post by Brian72, Apr 3, 2014

rhythmnation2004

Discussion Starter · Apr 1, 2014

When you go to major cities, what do you find in the downtown area? Restaurants, shops and apartments. You can build expensive condo buildings but you will not get young people downtown if there is nowhere for them to live. It is so common sense I don't understand why nothing is done! We have a handful of restaurants open for dinner - and the majority are expensive. No place to live, no place to eat, no place to play for young adults. That is your problem. That is why nightlife is happening in Soho and places with residences around where people can live and play.

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cwat212

· #2 · Apr 2, 2014 (Edited)

Yes it is crazy.. We DO NOT have the waterfront businesses like other areas. Those decisions were made way before we were here.

I have a feeling that a problem with DT tampa was that all the areas directly south have been popular for the last 30 to 40 years...SO Davis, Harbour Island, Hyde Park... and on.. Plus the nightlife of Ybor obviously filled a need..

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Brian72

· #3 · Apr 3, 2014

There is a certain level of sustainability when it comes to "hot" spots. I know in the past, there were times I went out with friends to places like Ybor (zero residential in the 1990's) with little or no residential. Until Madison at Soho was built ( condos ) there was not much around south Howard, but the people went there because it was the place to be.

The issue with apartments is, you have to manage them and to build it, there are huge costs that have to be recouped. Most builders don't want to babysit, so they need to sell or hire a company to lease, more out of pocket money. The condos boomed because they got a deposit up front with a commitment to purchase, after the warranty period, they left the HOA to handle it and they are done. Great investment project. Now with our economy growing and the lack of sub prime lending to anyone who thinks they can afford to buy a home, apartments are coming back. This also left all those who can't qualify looking for apartments, so the good news is, renters are a plenty right now.

The Residences at Riverwalk are going up and another 7 story project in S downtown are planned. Its a comin....

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