Pulse on Clearwater multifamily market?

[Ben Blanton]

Hi everyone,

I'm looking at a small multifamily property just east of downtown Clearwater, and I am hoping to get some feedback on the local market from anyone familiar with the area (demographics, forecasts, etc.). I'm based in Orlando, and my knowledge of that area is more in the Tampa/St. Pete markets.

From what I can tell, it appears that neighborhoods can change relatively quickly from nice to not-so-nice. There is one new multifamily complex (The Nolen) that I know of that is still in lease-up, but I'm wondering if anyone has any insights or opinions on what they think the local area is like: are people moving in to downtown Clearwater area, companies moving in or out/number of jobs increasing or decreasing, etc.

Any insight would be tremendously helpful.

Ben