Multifamily continues to be the main growth sector for Tampa’s real estate industry. As BTI Partners CEO Noah Breakstone recently pointed out, more than 7,200 units are under construction in the metro and another 37,133 units are in the planning and permitting stages, according to Yardi Matrix data. Absorption is expected to keep up with supply, as the area’s population growth continues.
In an interview with Multi-Housing News, Breakstone discussed why developers are shifting their attention from South Florida to Central Florida and provided an update on BTI Partners’ Marina Pointe, part of the 52-acre Westshore Marina District project in Tampa.
Marina Pointe’s first luxury condominium tower is officially under construction!
Construction has now begun on the hotly anticipated condo tower and state-of-the-art marina, which lies right on the tower’s doorstep. Marina Pointe’s first tower will include 113 luxury condominiums and 7 townhomes with breathtaking views overlooking Tampa Bay, as well as luxurious resort-style amenities and immediate access to the new marina and the Westshore Marina District’s shops, restaurants and scenic waterfront walkways. The tower’s convenient location at the intersection of bustling Gandy and South West Shore Boulevards places residents just minutes away from the vibrant downtowns of both Tampa and St. Petersburg.
“We are excited to share that Marina Pointe is officially under construction,” said Brian Van Slyke, BTI Partners’ Executive Vice President of Florida’s West Coast. “This project is a one-of-a-kind offering in Tampa Bay and in the state’s West Coast market, thanks to our unparalleled location, walkability, waterfront living and views. We’re not just building waterfront condos at Marina Pointe, we’re building a comprehensive lifestyle with direct access to boating services, boutique shopping and dining, and high-end retail.”
The project’s state-of-the-art marina will also feature approximately 150 slips accommodating vessels up to 100 feet in length, and provide owners with concierge boat services, a full-time dock master, professional boat charters, and much more.
Call (813)-379-9589 or visit our sales gallery at 4900 Bridge St., Tampa, FL to learn more about Marina Pointe’s luxury waterfront condos from the $700,000s, as well as the all-new marina’s amenities and services. Hurry in for best selection and views!
Photo by Austin Distel
Nevermind the dog days of summer. The U.S. Federal Reserve has moved the domestic and global markets in big ways: It has cut federal interest rates, also known as the federal funds rate, for the first time since the 2008 financial crisis, following a steady stream of rate hikes since 2015. The move would have a trickledown effect that may help “entry-level” luxury buyers and savvy real estate investors, or may encourage more foreign purchasers to look to the U.S.
The federal funds rate is the rate at which banks with balances held at the Federal Reserve, the country’s central bank, can borrow from one another on an overnight basis. While there isn’t a direct correlation between mortgage interest rates and the Fed’s funds rate, which is what’s widely anticipated to be cut at the end of the month, U.S. housing markets stand to feel the impact in a few key ways, especially in the lower segments of the market where first-time and millennial buyers have struggled to get a foot in the door.
Marina Pointe is proud to announce another new retail addition!
Cru Cellars, already a local favorite with two Tampa locations in Palma Ceia and Armature Works, is a sophisticated wine bar and restaurant offering an expertly curated collection of fine wines by the glass or bottle, as well as cocktails and a creative menu of small plates, entrees, desserts and more. Marina Pointe’s residents will be able to enjoy a short walk to Cru Cellars to discover their new favorite vintage and relax with friends.