Tampa 5 – 10 Years in the Future – Economic Investment

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Tampa 5 – 10 Years in the Future – Economic Investment

August 17, 2018 By Jorge Vazquez

Tampa is already considered one of the best cities to live in the U.S., with plans in place to make it even better. Tampa Mayor Bob Buckhorn has been an advocate for the development, and economic investment for the area and his efforts are bringing results.

Development Projects in Tampa

Over the past few years, Tampa has experienced higher rates of real estate investment, especially in large community projects. Public and private projects were undertaken to give a boost to the city and surrounding communities while attracting tourism and new residents. Fox 13 news gave us a look at a virtual tour Tampa released recently that gives a good idea of what Tampa could look like in 5 – 10 years, if the existing and pending projects are completed as intended.

What’s Expected 10 Years from Now?

Many projects are ongoing right now, but some of the largest are set to have a huge impact on the way things are done, and what people enjoy about the city. Here are a few of the most notable projects in the works that are set to be completed within a few years:

Sparkman Wharf: The rendering of the new Sparkman Wharf shows it will be a modern outdoor park space with plenty of shops, outdoor eating areas, and other small attractions. One of the main highlights is meant to be the large outdoor biergarten. This project is near its completion and should open up in late 2018.

Water Street Project: This is a public project that will help to connect many of Tampa’s attractions and facilities together via walking paths, 13 acres of public park, gathering areas, and other outdoor infrastructure. Other privately funded buildings are also being constructed around the area. Tampa’s first 5-star hotel is being built as part of this project.

Ybor City Stadium: While currently delayed because of funding, this new $890 million stadium in Ybor City could be the next home of the Tampa Bay Rays. It’s set to be a gorgeous modern stadium with a clear glass roof, fantastic pedestrian areas, and sliding glass walls. If plans can be made for the Rays to adopt the stadium, it could be finished by 2023.

Midtown Tampa: Located just between North Dale Mabry and I-275, this multi-use project features a variety of open spaces. Plans include office spaces, residences, retail shopping areas, restaurant spaces, and entertainment venues. So far, the biggest commitment has come from Whole Foods, which plans to occupy a large retail space as the anchor store. The project is set to open in 2021.

St. Petersburg Pier: With the demolition of the old St. Petersburg Pier, the new pier is now being constructed. From renderings shown in the virtual tour, the pier is likely to contain entertainment spaces, park space, and more. Construction is set to be finished sometime in 2019.

Gateway Express: This tolled highway will help to ease traffic moving around Tampa, while making it easier to get to some of the major spots in the city. From the Gateway Express, you’ll be able to access the new St. Petersburg Pier as well.

Take Away

Tampa is in the midst of large-scale change. Within the next 5 – 10 years, the 6 projects listed here should be completed. Tampa’s virtual tour of the future shows an attractive picture of what the city could look like, which may help you visualize it better while the construction is still ongoing.

Thanks for this @Jorge Vazquez ! I have two questions for you:

1. What do you do with this type of information as an investor? / How does it impact your strategy?


2. What are your favorite ways to stay up to date with all the changes like you captured? I use a simple Google alert for now and was thinking about subscribing to the Tampa Bay Business Journal.

(Technically that's 3, but who's counting). Let me know your thoughts!

Kevin

The Tampa Bay Business Journal it is one of the best ways for sure. I personally use the local Facebook groups with relevant information to keep me updated. If you are seeking for "out of state investors" or "foreign national investors" this information is vital to have! 

Hey Jorge,

I just moved to Tampa from Chicago for the main reason being the amount of investment going into making this city great. I'm heavily involved in large construction projects and I was seeing a lot of interest in the region for large scale development projects. One of things that poises Tampa to be a prime investment is that most of the infrastructure for a mega-city is already here. It has the large airport, the fancy shopping malls, unique neighborhoods, and the large highways. It's now receiving some media attention. I think that 10 years from now Tampa will be a tech hub much like Austin TX is becoming right now. 

Some of the sources I look at are the TB Business Journal, Curbed Magazine, & TB Times. Excited to see the future of this city I now call home!

@Jorge Vazquez Tampa and St. Pete still have some seriously great buy and hold deals going even on the MLS if you search hard enough and run your numbers frequently enough to realize them. I’ve been buying here for the last 2 years and plan to double up my portfolio before mid next year.
Originally posted by @Kevin Mathew Galang :

1. What do you do with this type of information as an investor? / How does it impact your strategy?

Several years ago we were looking for a new market to invest in.

For us, the water street project was a contributing factor for us choosing to invest in Tampa Bay.

If you invest where the big players are building you're more likely to do well.

Starbucks sets up shop in areas that are growing.  Our properties are always close to one.

Originally posted by @Eric Delcol :
Originally posted by @Kevin Mathew Galang:

1. What do you do with this type of information as an investor? / How does it impact your strategy?

Several years ago we were looking for a new market to invest in.

For us, the water street project was a contributing factor for us choosing to invest in Tampa Bay.

If you invest where the big players are building you're more likely to do well.

Starbucks sets up shop in areas that are growing.  Our properties are always close to one.

This is fantastic advice! Thanks for this!

Follow the Starbucks, I like it!

Originally posted by @Eric Delcol :
Originally posted by @Kevin Mathew Galang:

1. What do you do with this type of information as an investor? / How does it impact your strategy?

Several years ago we were looking for a new market to invest in.

For us, the water street project was a contributing factor for us choosing to invest in Tampa Bay.

If you invest where the big players are building you're more likely to do well.

Starbucks sets up shop in areas that are growing.  Our properties are always close to one.

Originally posted by @Jorge Vazquez :

Tampa 5 – 10 Years in the Future – Economic Investment

August 17, 2018 By Jorge Vazquez

Tampa is already considered one of the best cities to live in the U.S., with plans in place to make it even better. Tampa Mayor Bob Buckhorn has been an advocate for the development, and economic investment for the area and his efforts are bringing results.

Development Projects in Tampa

Over the past few years, Tampa has experienced higher rates of real estate investment, especially in large community projects. Public and private projects were undertaken to give a boost to the city and surrounding communities while attracting tourism and new residents. Fox 13 news gave us a look at a virtual tour Tampa released recently that gives a good idea of what Tampa could look like in 5 – 10 years, if the existing and pending projects are completed as intended.

What’s Expected 10 Years from Now?

Many projects are ongoing right now, but some of the largest are set to have a huge impact on the way things are done, and what people enjoy about the city. Here are a few of the most notable projects in the works that are set to be completed within a few years:

Sparkman Wharf: The rendering of the new Sparkman Wharf shows it will be a modern outdoor park space with plenty of shops, outdoor eating areas, and other small attractions. One of the main highlights is meant to be the large outdoor biergarten. This project is near its completion and should open up in late 2018.

Water Street Project: This is a public project that will help to connect many of Tampa’s attractions and facilities together via walking paths, 13 acres of public park, gathering areas, and other outdoor infrastructure. Other privately funded buildings are also being constructed around the area. Tampa’s first 5-star hotel is being built as part of this project.

Ybor City Stadium: While currently delayed because of funding, this new $890 million stadium in Ybor City could be the next home of the Tampa Bay Rays. It’s set to be a gorgeous modern stadium with a clear glass roof, fantastic pedestrian areas, and sliding glass walls. If plans can be made for the Rays to adopt the stadium, it could be finished by 2023.

Midtown Tampa: Located just between North Dale Mabry and I-275, this multi-use project features a variety of open spaces. Plans include office spaces, residences, retail shopping areas, restaurant spaces, and entertainment venues. So far, the biggest commitment has come from Whole Foods, which plans to occupy a large retail space as the anchor store. The project is set to open in 2021.

St. Petersburg Pier: With the demolition of the old St. Petersburg Pier, the new pier is now being constructed. From renderings shown in the virtual tour, the pier is likely to contain entertainment spaces, park space, and more. Construction is set to be finished sometime in 2019.

Gateway Express: This tolled highway will help to ease traffic moving around Tampa, while making it easier to get to some of the major spots in the city. From the Gateway Express, you’ll be able to access the new St. Petersburg Pier as well.

Take Away

Tampa is in the midst of large-scale change. Within the next 5 – 10 years, the 6 projects listed here should be completed. Tampa’s virtual tour of the future shows an attractive picture of what the city could look like, which may help you visualize it better while the construction is still ongoing.

 Good stuff Jorge!