Big Changes are happening in part of Tampa's central core. We all know about downtown and Channelside where high rises seem to be popping up like corn stalks. The Intown Group just announced another 30 floor building near their current Skypoint building. We also know about the townhouses that seem to be getting squeezed into the corners of the SOHO area. And if you haven't been to the South of Gandy area (SOG), you have missed high rises, townhouses, and lots more development underway with even more on the horizon.

The rapid appreciation of properties have been great for property owners. Even now, with slowing in the real estate markets, prices have remained pretty firm and construction is still proceeding. Jason O'Neil with Palermo Real Estate has built a very successful career specializing in just South Tampa real estate. But many South Tampa real estate owners are facing some problems.

Their property has significantly appreciated. Frankly, to the point where the owners could not afford to buy the same property again. And of course, we have to also add in increased maintenance, taxes, and insurance. As many of these younger owners mature, their demand for more space is increasing as well. With possible kids in the future, more bedrooms can come at high prices.

The solution ? Move to outlying areas where costs for land are much lower - BUT forget the comfort of convenience and add a lengthy commute. And of course, forget the trendy areas of SOHO, Channelside, or the West Shore area. WAIT A MINUTE, that used to be the solution.

Over 40 single family homes are under construction less than 20 blocks from the Swann/Howard Avenue intersection. The main developers are Castillo Housing and Intown Homes. Intown Homes indicates a 1,330 square foot home can be built starting at $180,000 with 3 bedrooms and two baths - and only two blocks off Howard Avenue. (North Howard that is)

The opportunity to sell your 700 foot condo and move into a new, larger single family home is part of what is spurring this rapid growth. Castillo Housing has so far been building homes with a typical urban look. (Their pricing in the the $245,000 plus range)

Intown Homes has worked harder at providing more neighborhood authentic bungalow look homes, many two story, all with front porches. They have a three home model center located at Spruce and North Albany, just one block east of Howard. Over 30 homes are under construction or have been complete and they still have over 40 lots available.

If you have been watching real estate prices, it seems pretty hard to imagine spending $180,000 for a NEW Three Bedroom home less than five minutes from SOHO, downtown, and West Shore area, but it can be done with Intown Homes.

Visit the website of Intown Homes here - www.intownhomes.us


You can see the proposals for the Armory Project here - http://www.tampagold.com/armory.html . The Heritage Square proposal seems to have the most momentum at this time.

Visit the website of Intown Homes here - www.intownhomes.us

Find out what South Tampa properties are listed at Jason O'Neil' site here http://www.oneillistings.com/MLS_search.asp



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