Tampa Bay February 2019 Digital Magazine

by Craig Kincheloe

Published February 2019

FEBRUARY 2019/VOL 2/ISSUE 2

TAMPA BAY INSIDER

FEATURES, TRENDS, AND EVENTS FROM:

What's New in Tampa Bay:
Riverwalk Place

Inspired by Tampa’s maritime heritage, the tower’s stunning “full sail” silhouette has been masterfully imagined by renowned global architecture firm, Gensler. The visionaries behind some of the most iconic and transformational urban addresses around the world, Gensler’s globe-spanning portfolio includes the 127-story Shanghai Tower, the tallest tower in China and second-tallest building in the world.

The firm’s 50+-story design for Riverwalk Place echoes the subtle lines of sailboats, with a curved “arrowhead” profile arcing gracefully towards the Bay. Glass-railing balconies wrap each side, resembling two sails that join as the building rises to its top floors. The distinctive shape and angle provide nearly every Sky Residence with unobstructed panoramic views from heights unmatched on the west coast of Florida.

Sky Residences start on the 24^th level, which means that even the first floors of these luxury condominium residences will enjoy views that nearly any other penthouse would envy.

Riverfront Residences offer breathtaking river and city views just steps from the dazzling array of restaurants, retail, and recreation along the building’s 150-yard Riverwalk park and promenade.

Appointed with the finest modern finishes, features and appliances, the main living areas of each condominium residence feature soaring, 10- to 12-foot ceilings. Floor-to-ceiling glass and expansive, wraparound balconies offer spectacular panoramic views from nearly every residence.

Optimizing space, light and views, the streamlined luxury of each expansive interior sets a sophisticated new standard for downtown Tampa living on par with the most iconic urban addresses around the world.

The 53-story tower, at Brorein Street and Ashley Drive in downtown Tampa, officially opened its sales gallery to the public — with nearly $70 million in reservations already on the books. Read more by clicking here.

For special incentives, only offered through The Kincheloe Group CLICK HERE to contact us today.

Craig's Take:
The concept of the design, back in 2015, was a 52-story mixed-use tower on what was known as the Trump Tower site, a piece of property once targeted for Trump-branded condominiums at the height of the real estate market. Feldman's proposal, called for seven stories of parking totaling more than 600 spaces; floors eight through 22 to include 205,000 square feet of office space; floors 23 to 52 to be home to 203 residential units.

Riverwalk Place will be the tallest building, not just in Tampa, but on the West Coast of Florida. There is also no other building on the West Coast of FL that will offer amenities like this building. We are talking next level views and amenities never seen before in Tampa Bay.

In November 2018, the sales gallery opened, and $70 million in reservations were secured in a very short period, much to the surprise of the developers. After taking that into consideration, the developers decided to completely scrap plans for office space, and will devote the entirety of the tower to condos, saving the ground level for restaurants and retail space along the Tampa Riverwalk. The reason for these changes was the overwhelming demand for the condos. The demand was much higher than anticipated.

In January, the total reservation number grew to $80 million. The massive milestone was marked when the developer secured a $24.5 million loan that will pay for the first phase of construction. This is one step closer to this building becoming part of Tampa’s skyline. Construction is scheduled to break ground in the 4th quarter of this year, and build time will be approximately 36 months from then. Look for delivery date of sometime in 2022.

What to watch for, is how many of these reservations convert into signed contracts. The deposit for the reservation is only $25,000 and it is completely refundable. According to a developer rep, they are expecting to convert the reservations into contracts at the end of this month. At that time, 10% is due and is non-refundable. This will be the true measure of the demand for this tower. I do expect there to be fall out, stay tuned to know to what extent.

Click here to learn more.

WHAT'S HAPPENING THIS MONTH:
CLICK EVENT FOR DETAILS

What Tampa’s
Modern Reinvention
Says About the
Future of American Cities

Tampa’s landscape feels oddly familiar. Florida's third-largest city unfurls into unremarkable suburban-style sprawl centered around multiple small urban centers that show more history than most of the state. (The area has immigrant roots dating to the early 1900s.)

Although more than 3 million people call the Tampa–St. Petersburg–Clearwater area home (and it ranks in the top 10 of 2017 national population growth), it’s not exactly top of mind when it comes to innovation and urban planning. However, much like other second-tier cities across the country, that’s changing.

“People think of Florida as retirement, but Tampa’s average age is actually below the national average,” says James Nozar, CEO of Strategic Property Partners (SPP), the development firm overseeing Water Street Tampa—one of America’s most ambitious urban revitalization plans. Backed by Bill Gates’ and entrepreneur Jeff Vinik, the project represents more than 1 million square feet of new street-level activity space along with a literal reorganization of Tampa’s downtown.

“Tampa is turning back towards its waterfront,” says John Rossant, founder and chairman of NewCities Foundation, a global nonprofit focused on urban planning. “The people backing it financially are super smart and what’s interesting is that from the get-go, Water Street was positioned as world-class—something that could radically reposition Tampa and turn it into a global city.”

Click here to read more about the future of Tampa.

Have You Noticed?
The Housing Market
Is Starting to Look Brighter

Real estate indicators are starting to shift in favor of home buyers as the housing market sets its sights on spring. Mortgages are getting cheaper, housing inventories are growing, and home prices are rising at a slower pace.

Mortgage rates have been holding steady for the last few weeks. The 30-year fixed-rate mortgage averaged 4.45 percent last week, according to Freddie Mac. Late last year, mortgage rates were nearing the 5 percent threshold, but several weeks of decreases have offered some relief to home shoppers. The five-year adjustable-rate mortgage has been averaging under 4 percent, landing at 3.90 percent last week, Freddie Mac reports.

Home buyers are responding to the lower rates. New mortgage applications of home buyers across the country surged to the highest level since 2010 during the week ending Jan. 11, according to the Mortgage Bankers Association. Applications were 9 percent higher than they were the week before.

Housing inventories have grown significantly in many markets too, offering buyers a lot more choices. That is helping to put a tighter lid on home price growth as sellers face greater competition. Homebuilders are reportedly lowering their prices in many areas too. A quarter of newly built homes saw a price cut during the last quarter of last year.

Click h ere to read more about the housing market.

The Top 10
Best Sunsets in Florida

Are you the kind of traveler smitten by the small wonders of each destination? If you are, then you likely enjoy the uniqueness and mystery of each destination’s sunsets. What better place to catch these daily wonders than in “The Sunshine State” itself? Here are The Top 10 Best Sunsets in Florida.

Click here to see where the top 10 sunsets in Florida are.

Craig's Take:
In my humble opinion, the list is missing one of the best places in Florida to view the most incredible sunset, and that is Pass A Grille. I encourage anyone who hasn't been there, to go watch the sunset and experience it for yourself. You can see them at the public beach or several of the restaurants along Gulf Way.

How Love
Improves Your Health
and Impacts Your Life

Love comes in many forms: the love between friends, spouses, partners, relatives, and even between pets and their owners can be a transformative and amazingly fulfilling experience.

But, did you know that love can actually improve your health, both physically and emotionally? It’s true—research shows that love in all its splendor can put you on the road to health and happiness.

From how you give and receive love to the ways you express affection, it turns out that this remarkable emotion can enrich your life and benefit your well-being beyond just making you feel warm and fuzzy.

Click here for four ways love can vastly improve your health.

Craig's Take:

A few great books to read to take your relationships to the next level are: "The Five Love Languages" by Gary Chapman, and "The Relationship Cure" by John Gottman.

Energy conservation:
10 ways to save energy

There are many different ways to reduce your household’s energy use, ranging from simple behavioral adjustments to extensive home improvements. The two major motives for conserving energy are to save on utility bills and protect the environment. Here are the ten most common ways to conserve energy and save electricity in your home, listed from the simplest to the most intensive methods.

Click here to find out the tips to save energy AND money.

Featured Listing of the Month:
8573 42nd Ave. N.
St. Petersburg, FL 33709

Coming Soon...stay tuned for professional photos, after light remodel is completed. Perhaps, one of the most serene views of any home I have sold in my 16 year career. Can you imagine this is your view every morning and evening? Expansive views of Boca Ciega Bay and protected conservation. A few minute boat ride to John’s Pass and immediate access to the Gulf of Mexico, make this home the epitome of waterfront living.

If you or someone you know is looking for a home, reach out to me today for a private tour of this incredible residence.

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CLICK HERE

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KNOW SOMEONE WHO IS CONSIDERING BUYING OR SELLING-
SEND THEM THIS LINK TO SCHEDULE A STRATEGY SESSION WITH CRAIG

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Tampa Bay February 2019 Digital Magazine

by Craig Kincheloe

What's New in Tampa Bay: Riverwalk Place

What Tampa’sModern ReinventionSays About theFuture of American Cities

Have You Noticed?The Housing MarketIs Starting to Look Brighter

The Top 10Best Sunsets in Florida

How LoveImproves Your Healthand Impacts Your Life

Energy conservation:10 ways to save energy

Featured Listing of the Month: 8573 42nd Ave. N.St. Petersburg, FL 33709