Here are seven interesting news items that are giving a boost to the Tampa Bay real estate market!
1. The first Crystal Lagoon in the US will open in 2018 in the Epperson Ranch community in Wesley Chapel.
Crystal Lagoon is a 7.5-acre man-made lagoon that contains 16 million gallons of purified water for swimmers, sunbathers and paddle boarders. It is the centerpiece amenity of the 2,000-home Epperson Ranch which occupies 7,800 acres of central and eastern Pasco County.
Because of the high demand for newly-built homes in Epperson, the developer, Metro Development, plans to build more communities with Crystal Lagoons. The second project is called Mirada, which is to be built also in Pasco County. It will have 5,800 homes and 900 apartments. The third will be in southern Hillsborough County’s Southshore Bay community.
2. Water Street Tampa
As many already know, Water Street Tampa is a $3 billion mixed-use community being developed by Strategic Property Partners (SPP) on more than 50 acres in the heart of downtown Tampa. SPP is a company controlled by Tampa Bay Lightning owner Jeff Vinik and Bill Gates’ investment fund Cascade Investment.
Water Street will develop new residential, office, retail, entertainment, cultural, educational, medical, park and public gathering spaces to connect existing community anchors that include the Tampa Riverwalk, Florida Aquarium, Tampa Convention Center, Amalie Arena and Tampa Bay History Center.
One of its main goals is to become the world’s first WELL-certified community, setting a new standard for wellness and sustainability.
3. 815 Water Street will be the first residential development in Water Street Tampa
It will consist of two towers: a 26-story condo tower and a 21-story rental tower. They’ll be connected by a lower building that will include a ground-floor grocery store and an open green space between the towers. The project, which will break ground in 2018, will sit at the intersection of Water Street and Channelside Drive, east of the Amalie Arena and north of the Tampa Bay History Center.
4. University of South Florida’s new Morsani College of Medicine and Heart Institute
Construction of the University of South Florida’s new $153 million Morsani College of Medicine and Heart Institute in Water Street Tampa has started in September 2017. The medical school and cardiovascular institute will be a key anchor for the district. It will bring USF medical students closer to Tampa General Hospital, the university’s main teaching and clinical affiliate, and to the USF Center for Advanced Medical Learning and Simulation.
The USF medical school has received 6,000 applications in 2017, competing for just 170 spots. When the building opens in 2019, it will host an estimated 2,275 faculty, staff and students.
5. Tampa will host Super Bowl LV in 2021
For the fifth time, the city of Tampa will host the Super Bowl in 2021. It has hosted Super Bowl in 1984, 1991, 2001 and 2009. And for the third time, Raymond James Stadium will host the game.
In April 2017, the Tampa Bay Buccaneers launched its $150 million renovations to Raymond James Stadium with the number one goal of enhancing the game day experience for all fans.
6. Siemens Corp. and Chromalloy Gas Turbine Corp. will create 350 new jobs in Tampa
The two companies have decided to locate their new joint venture, Advanced Airfoil Components, at the Tampa Regional Industrial Park. They will invest around $139 million in a manufacturing facility that will make products that maximize gas turbine performance. Siemens already has around 5,200 employees in Florida’s I-4 corridor.
7. MetLife will add 430 high-wage jobs at its Tampa campus.
MetLife will invest $25 million to expand its Tampa operations and create more Tampa Bay jobs. Currently, it has more than 1,500 employees in Tampa. MetLife is a financial service company that provides insurance, annuities, employee benefits and asset management to individual and institutional clients.
More jobs and more businesses and institutions will mean more employees who can afford to buy Tampa Bay real estate properties.