Is Tampa the New Miami?!? Tourists seem to think so. With the upcoming Super Bowl coming to Tampa in 2021, and an influx of tourists now is a great time to invest in property. It is also an even better time to enjoy ALL that Tampa Bay has to offer.
Tampanians are happy to hear that description of its city on the rise. Since the recession, Tampa Bay's development and tourism scene has exploded. Visit Tampa Bay reported that visitors pumped $6.6 billion into Hillsborough County last year, fueling tens of thousands of local jobs. More than 2,000 hotel rooms are under construction right now in Tampa Bay, with big events on the horizon that promise to bring even more visitors. Local hoteliers and vendors are in the midst of celebrating the area's growth while attempting to predict the future. They're uneasy about even the slightest possibility of a recession, but already anticipating the onslaught of Super Bowl visitors come 2021.
Overall Tampa Bay is in a good place: The number of trendy hotels opening over the next 12 months doesn't outpace the anticipated demand of those who are looking for high-class visits or business trips. A record 126.1 million people visited Florida last year, according to Visit Florida. More than 30 million people of them visited Tampa Bay, according to data from local tourism groups Visit St. Pete/Clearwater and Visit Tampa Bay. Visit Tampa Bay, which promotes Hillsborough, just published a study it commissioned through analysts at Tourism Economics this week that showed overall visitor spending up nearly 7 percent in 2018, at about $4.2 billion. Pinellas County has reported a total economic impact of about $8.4 billion from its tourism industry.
Craig’s Take:
There are many hotel projects that make up the 2,000 hotel rooms currently under construction. The three most important hotel projects in my opinion are the J.W. Marriot on Water Street located in Downtown Tampa, Current Tampa located on Rocky Point and The Edition located in Downtown Tampa. Two out of those three will done in time for Super Bowl 55. A fourth hotel project worth being mentioned was a massive remodel rather than new build and that is The Marriott Waterside Hotel also located Downtown.
J.W. Marriott on Water Street Downtown Tampa
This will be the first time Marriott International will introduce their JW Luxury brand to Tampa. The 26-story hotel will feature 519 rooms, Construction of the JW Marriott began in 2018 and is currently ahead of schedule. The $200 million-plus hotel will be done next summer and ready to hose Super Bowl visitors here in Tampa in February 2021.
In addition, the new JW Marriott Strategic Property Partners purchased Marriott Waterside Hotel and Marina. The Marriott Waterside has been an anchor hotel for downtown Tampa for many years. Strategic Property Partners completed a $50 million renovation of the Marriott Waterside Hotel & Marina was completed earlier this year. The 17-story, 727-room hotel saw a major transformation in existing rooms, new restaurant, the fitness center was expanded and upgraded with state-of-the-art equipment and back-of-house spaces on the first floor were reconfigured to allow for the development of a new Starbucks storefront with an exterior entry along Water Street. Combined, the JW Marriott and Tampa Marriott Waterside Hotel & Marina will create the largest collection of hotel rooms and meeting space in the Tampa Bay area with 1,246 rooms and 150,000 square feet of meeting and event space.
Edition Located in Water Street Downtown Tampa
The Edition will be Tampa’s first 5 start hotel. Strategic Partners is brining Marriott’s modern luxury brand Edition to Tampa. The 27-story tower will include 172 hotel rooms in addition to 37 condo-residences on floors 10-27. The Edition Brand is partnership between Ian Schrager and Marriott International. The brand has hotels in New York, Miami London and Sanya, China. If the name Ian Schrager sounds familiar to you he was one of the founders of the infamous Studio 54 in New York back in the late 70’s.
Construction recently broke ground and the Tampa Edition Hotel & Residences is set to open in the spring of 2021. Unfortunately, this hotel is not expected to be complete in time for visitors to enjoy for Super Bowl 55.
Current Located at Rocky Point
I will discuss the details of this new hotel below in a separate section because it is just opened last month.
There are three other additional hotels in the Westshore area all set to open that make up nearly 400 more room. The reason I believe the three I wrote about are most important to Tampa Bay’s success is because Tampa Bay has always lacked boutique high-end hotels in very desirable locations except the beaches. Tampa hasn’t had any hotel brands synonymous with luxury like The Ritz Carlton, W Hotel, Four Seasons, St. Regis, Signature Marriott and the JW Marriott. With the addition of the hotel Current Tampa will soon have 3 boutique hotels that are part of the Marriott Autograph Collection. Now people traveling to Tampa Bay for pleasure or business have options for these types of accommodations. Locals also have upscale options to enjoy the swanky hotels that offer handcrafted cocktails, gourmet food, unique ambiences and incredible views. Something that locals have been missing.
WHAT'S HAPPENING THIS MONTH: CLICK EVENT FOR DETAILS
Highlights and Updates for Tampa Bay's Tourist Hot Spots
Celebrity Cruises
Celebrity Cruises are setting sail once again in Tampa Bay. After it completes a modernization in May 2020, Celebrity Cruises' Constellation ship will sail from Tampa for the winter 2020-2021 season. This is the first time the cruise line is returning to Tampa since 2007. The service will operate three different alternating 10- and 11-night round-trip sailings to the southern and eastern Caribbean, with one touching the Panama Canal.
"The addition of this premium brand to the explosive growth that Tampa Bay is experiencing will add an extraordinary adventure to the many choices vacationers have in Tampa Bay,” Port Tampa Bay CEO and President Paul Anderson said in the announcement. Celebrity is considered a premium class which is going to be a good addition," Greg Lovelace, Port Tampa Bay's senior director of business development, told the Tampa Bay Business Journal on Monday.
Celebrity Cruises is owned by Miami-based Royal Caribbean Cruises Ltd., which also owns Royal Caribbean International and Azamara Club Cruises. Port Tampa Bay's other major cruise lines include the Carnival Cruise Line, Royal Caribbean and Norwegian Cruise Line. "Cruise lines go where there's demand and market support them. This is a testament to our market," Lovelace said, adding that the port markets Tampa Bay's assets, including the $3 billion Water Street Tampa development.
The Port of Tampa has been making big moves this year. In addition to the deal with Royal Caribbean Cruises, The Port of Tampa has inked a couple big shipping deals CMA CMG Group, a global shipping company based in Marseilles, France and another with Shanghai-based Cosco Shipping Lines. The deal with CMA CMG Group recently resulted in the largest container ship ever to call at Port Tampa Bay, and it cruised under the Sunshine Skyway bridge in June. The 1,096-foot-long vessel that has the capacity to carry 8,500-9,500 containers is the first container ship to arrive into The Port Tampa Bay as part of the deals inked back in February. Pacific Express 3 was adding Tampa as a weekly stop on a route that includes calls in China, Singapore, Vietnam and South Korea, then, after passing through the Panama Canal, Houston, Mobile, Ala., New Orleans and Miami. These new services mean many things to our area and residents. First, it provides further evidence of the growing importance of markets around the Gulf of Mexico, particularly between Tampa and Orlando. Second, it further confirms the Interstate 4 corridor has become the heartbeat of Florida’s international trade. Third, this will result in cheaper commodities coming to our country. And fourth, it reconfirms the port’s investments into handling larger vessels is paying off. The number of containers handled has risen 31% from this time last year. Bottom line these are all very positive things for the Tampa Bay area and reason for excitement.
Rocky Point
Rocky Point is a beautiful waterfront Tampa spot to getaway from the hustle and bustle of urban living. An up coming hotel will top this already magnificent area with a new concept hotel. From the hotel's high-end design to a "dimensional" arrival experience to a rooftop lounge and cocktail bar, Current is designed to be a destination for locals and tourists. Curated by Oxford Exchange is a boutique that takes the place of a typical hotel gift shop; Tampa's Buddy Brew replaces a more staid hotel coffee bar. Every room has a water view, and there's floor-to-ceiling glass throughout the hotel. The rooftop lounge showcases a panorama of downtown Tampa and downtown St. Petersburg, air traffic at Tampa International Airport and the Howard Frankland Bridge on Interstate 275.
The 10-story, 180-room hotel was developed in a partnership between the Lifsey and Costis families and Pinnacle Hotel Management, which will also operate the hotel. It was first proposed in early 2015, broke ground in 2017 and should open by the end of August, Lifsey said. The average room rate is $250.
Guests will have the ability to launch paddle boards right from the hotel property making it unique and attractive to water lovers. Room amenities feature hardwood floors and tall windows with waterfront views. The hotel is not just for out of towners they intend to attract locals with access to rooftop lounge to sip on cocktails and watch the sunset over the water. The hotel also hopes to attract employees from neighboring office buildings will come for happy hour and nearby Tampa residents will for dinner to enjoy their in-house gourmet restaurant. The hotel partnered with Pinnacle Hotel Management to operate the hotel, which joins two other hotels in Tampa Bay to part of the exclusive Marriott Autograph Collection member. Tampa Bay’s two other hotels that part of the Autograph collection are Fenway and the Epicurean. Fenway is located in Dunedin and uses its history to take guests back to the jazz age. Epicurean is located in South Tampa partners with Bern’s Steakhouse for a foodies’ escape.
St. Pete Pier
The much anticipated St. Pete Pier has had many deigns and has now come to fruition. As the perfect spot for tourists and residents alike the new St. Pete Pier is slated to open in early 2020. The Pier will host a variety of new restaurants, shops, interactive experiences, and other elements that will be unveiled over the next several months. This park will consist of 26 acres of wonderful elements that are free to the public. I know this place will spark smiles, laughter, events, celebrations, and opportunities for all ages within our local community. Not only that, but our hope is that this park will be an attraction to visitors from all over the world, spanning from artists and celebrities to soldiers and politicians.
The Pier district will offer a truly intergenerational waterfront experience. It will be a place for everyone to experience the water, a place to gather, a place to make memories. It will represent to the world that we are a progressive community who values the environment, the arts, the water, and our diverse population.
The St. Pete Pier has faced many obstacles. The two hardest factors to overcome are budget and environment. The salt environment is extremely corrosive and is difficult to design a lasting project within a typical building budget. At the market we overcame this by creative efficiency. Instead of putting solar panels on top of an expensive roof we used the solar panels themselves as the shade structure. This also puts the solar panels on display recognizing the cities dedication to sustainability. Read full article by clicking here.
John's Pass
When you think of the beach vacation most people think of a boardwalk. The Gulf Beaches don't necessarily fit this description, but there is one spot that comes close John's Pass.
John's Pass has been bought by Mallah, who owns numerous properties throughout the Tampa Bay area. He bought the 138,715-square-foot marina through the online auction site Ten-X. The property, part of what is commonly called John's Pass Village and Boardwalk, had been marketed as an "irreplaceable waterfront location'' that is Pinellas County's No. 1 tourist destination. We feel that we can come in and do what the previous owner wasn't doing,'' he said."It's a neighborhood and tourist meeting place close to our house so it's easy to manage it.'' Mallah is hoping to give John's Pass a much need update to its facade to freshen up and add more stores and restaurants.
If the name Ben Mallah sounds familiar, it is because I wrote about him in a previous edition. Mr. Mallah purchased a home in Belleair in January of this year for a record-breaking price of $16.5 million. Mr. Mallah, who is a real estate investor, is looking to add to his portfolio with the purchase of John’s Pass. From 1970-2008 the Hubbard family has owned this iconic piece of real estate. In 2008, the Hubbard family lost the property in bankruptcy and since that time John’s Pass hasn’t seen its full potential realized. Mr. Mallah is the perfect buyer of this iconic property. He is local, understands the area and the people. He also specializes in improving property to maximize its potential. I am incredibly excited to see the transformation of this iconic property. There truly is nothing like it in Tampa Bay and it remains on the most visited tourist destination in Tampa Bay and all the West Coast of Florida. Its improvement will only add to its allure to tourists. If you haven’t been there recently you will likely enjoy seeing its transformation. I encourage you to go visit now and again within the next 12 months.
Dog Park
Get ready for a new hot spot for you AND your best 4 legged friend to do what you love most, hang out with each other and enjoy a few cold ones.
Two Shepherds Taproom, which O'Bryan and business partner Patrick Verdugo plan to open in a warehouse at 4813 N. Grady Ave. The property has been in Verdugo's family since the 1960s, when his Cuban immigrant grandfather opened a carpentry shop in the space. The 5,000 square feet of air-conditioned play area as well as an outdoor dog park will also be a social spot for their owners, with 16 craft beers on tap. All in, the conversion of the warehouse property to an indoor dog park and taproom represents an investment of around $1 million, including a loan backed by the U.S. Small Business Administration.
The owners came up with the idea that people needed somewhere to take their pups to go and play when it's 95 degrees, raining, and disgusting outside. Which then evolved into what do people like just as much as dogs? Beer. They thought to combine the idea of dogs and beer and have the indoor and outdoor dog park and a bar along with it as well.
Hobbes and Verdugo's Australian shepherd, Cooper, inspired the name Two Shepherds. Patrons with a dog will have to pay admission, and Two Shepherds will offer membership options as well. Dog owners will be required to sign a waiver before entering the play area, which will be monitored by employees.
Truly a unique concept and unlike anything the Tampa Bay area has seen. I believe the concept is a good idea given increased pet ownership, the unbearable hot weather and increased number of rainy days. This could be the start of a concept that becomes a new market segment.
Tourists Feel at Home in a Snow Amusement Park
A rural area in Dade City will become the home of a new snow amusement park. On Aug. 6, Pasco County commissioners unanimously approved a conditional use permit, giving BB Agritourism and Saint Joe Ranch the right to create the park as it sits in the agriculture district.
The winter play park site, across from TreeHoppers, will include a snow tubing hill that may be as high as 300 feet long and up to 200 feet wide. The park will operate a maximum of 120 days a year, two to seven days a week, depending on the season, with some nighttime events. It will be open on Sunday through Thursday.
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New for Foodies: Noble Market
Noble Rice will be debuting its sake shop and gourmet Japanese market called Noble Market in Hyde Park at 226 South Boulevard in the next two weeks.
After announcing the project just last month, Instagram has been buzzing with every sneak peek the concept drops, like sandwiches made on housemade Hokkaido Milk bread, and the fact that the shelves will be stocked with ramen kits and to-go bento boxes. Since the market won't offer up any seating, guests can grab meals to go as well as ingredients that are served up in the restaurant.
How Does your Home Measure Up? 2500 Square Foot Home Value
You may be weary of hearing how important location is when discussing real estate, but realistically, it's the one element a buyer cannot change. As a result, all square feet aren't created equal. We picked 10 homes—all measuring 2,500 square feet—on the market right now, to illustrate how geography dictates vastly different results when it comes to housing prices.
You'll easily see the disparity on same-sized properties across the country. On the high end, the most expensive 2,500-square-foot home we found is a $6.2 million residence overlooking the Pacific Ocean in the picture-perfect locale of Laguna Beach. On the other end of the price spectrum, an intrepid buyer can score a historic home of exactly the same size in Maine for one-forty-sixth of the Laguna Beach price.
Click here to see how the 10 homes around the country are valued.
Tampa Bay Featured JUST SOLD Luxury Listing
After selling off his billion-dollar software development company, ConnectWise co-founder Arnie Bellini has made an acquisition on the personal front: A $9.25 million home on Clearwater Beach, directly south of Caladesi Island State Park. Bellini and his wife, Lauren, closed on the home on July 9, according to Pinellas County property records. The 4,826-square-foot house sits directly on the Gulf of Mexico. It was built in 1984 and includes four bedrooms and six bathrooms in three stories.
The sale price of $9.25 million puts the transaction in the upper echelon of Tampa Bay residential real estate. It is the second most expensive home sold in Pinellas County so far in 2019; a Belleair Shores home sold for $16.5 million in January. By comparison, the highest price home ever sold in Tampa was the Stovall Home on Bayshore Boulevard, which traded for $9.5 million in 2018 and will be converted to a private social club.
Craig’s Take:
The sale was an off-market deal as many luxury sales tend to be. The sale price of $9.25 million is not the highest but at only 4,826 heated sqft that brings the sold price per square foot to $1,916.70 which is the second highest in Tampa Bay. The highest being $2,190 per sqft. Both homes were off-market sales, are located on Mandalay Pt, sold for cash and within 30 days of each other. This is not uncommon in real estate especially in the luxury market. When one seller sells for a record others in the same neighborhood or area list their house for sale to take advantage of the high sale.
This estate is located on Clearwater Beach which has a ton of tourists’ activity year-round. Clearwater Beach has the highest year-round occupancy rate of any beach city or town in the US. If you are an area resident on the beach, the noise and traffic can make it undesirable. The nice thing about this estate is it is located at the furthest most northern point of the beach which offers privacy and tranquility. The estate is the third from the last house at the end of Mandalay Point. One of the most unique features is the home backs to the Gulf of Mexico and has its own 100-foot wide white sandy beach. Not just any sand, but the world-renowned white sugar sand of Clearwater Beach. From the beach you are a very short walk to Caladesi Island, one of Florida’s most beautiful parks. Imagine enjoying the breezes that come off the Gulf of Mexico and sunsets that are second to none. If that doesn’t sound amazing, across the street you have your own private dock and boat lift. Very few properties in Tampa Bay back to the Gulf of Mexico offering beach frontage while having your own private dock and boat lift on the intercoastal to the front of the estate. This home does and it also offers a quick boat ride out to the Gulf of Mexico through Mandalay Channel, Clearwater Bay. You will be to Clearwater Pass and out to the Gulf of Mexico in less than 15 minutes. This estate is the epitome of a location that is one-of-a-kind which is the reason for the high price per square foot.
Tampa Bay Featured
Luxury Listing
Today, scores of mansions and condo towers line Bayshore Boulevard, but the house Dorchester built for his wife and three daughters still stands out. It went on the market this month for $2.995 million. Located in the Hyde Park neighborhood, the seven-bedroom, five-bath house has 110 feet of frontage along Bayshore and water views from many of the rooms. Italian-style columns and arches grace the porch, while the entrance leads into a grand hall with a domed skylight and stairways on either side. The 7,615-square-foot house still has its original molding, fireplace and floors.
At a time when most houses were built of wood or solid brick, the Dorchester mansion employed an unusual construction method — hollow brick filled with concrete and covered with stucco (now painted marigold orange). That makes the home unusually quiet inside.In another innovation for the era, the 200 tungsten lights in all first-floor rooms were concealed behind gold borders. Mirrors behind the lights reflected the glow onto the ceilings, creating the effect of sunlight even on a cloudy day. The downstairs rooms also boasted steam heat — a more welcome innovation, air conditioning, was still decades away from widespread use.
This home truly needs to be seen in person to appreciate the level of detail and beauty. Call me to schedule your private viewing today.
Craig’s Take:
This historic gem has been listed for sale a number of times since 2016 without selling. The most recent was back in March for $3.5 million. Since that time, they have virtually painted the exterior a more neutral color. Yes, that is correct Realtors now have the capability to virtually paint a home in the photos. There are many other things we can virtually due to the photos like staging, replacing appliances, adding artwork to the walls, and replacing floors to name a few. Now, back to this piece of Tampa history.
The home’s interior is truly one-of-kind that you will not see in any of the mansions that line Bayshore. From the details in the ceilings, woodworking in the ornate trim, and one of the most spectacular staircases I have ever seen, the architecture and the design of the floor plan was ahead of its time. The placement of the windows was well thought out and takes full advantage of the beautiful views of Bayshore and Hillsborough Bay. This home is for the buyer who appreciates the grandeur, uniqueness and history of this home, wants to have a prime Bayshore address, is open to the additional maintenance required with a home built in 1912 and who wants to put their personal touch on this home. It is in need of some updating to align with most buyer’s expectations at this price point.
