Remote worker relocating to TPA, housing options? (Tampa: apartments, rentals)

[HeadedWest2020]

I posted in a previous thread that a family member of mine relocated to Tampa, and I have decided to head that way as well in the Spring(Q2 2020). Mid 30s professional who works remote and travels for business and pleasure 6x/quarter.

Westshore, Midtown, Channelside within city limits
Open to outlying areas if buying SFR that would again eventually become rental

If I go the condo route - would live in myself if/until life events occured (married, kids) and a change to the outlying areas made sense. I would then rent out said condo via corporate housing/relocation

Housing budget: $2000/mo max

Any suggestions on areas that I missed are welcome

[HeadedWest2020]

Anyone have any insight on the condos in Channelside (Grand Central, The Place at Channelside, etc)? A buddy of mine shared his boss purchased a couple years ago when Tampa prices were considerably lower (215k for his 2 bdr condo), and now a few are on the market nearing 300k, with no end in sight according to a few re agents I spoke to this week.

[MortonR]

Originally Posted by HeadedWest2020

Anyone have any insight on the condos in Channelside (Grand Central, The Place at Channelside, etc)? A buddy of mine shared his boss purchased a couple years ago when Tampa prices were considerably lower (215k for his 2 bdr condo), and now a few are on the market nearing 300k, with no end in sight according to a few re agents I spoke to this week.

This area is HOT due to the massive amount of development going on downtown. Prices are rising rapidly, so much so that some properties have attempted to run owners out who bought at the bottom of the market a few years ago by invoking major assessments and other such ploys.

There's not a lot going on there as far as nightlife and restaurants just yet, but the construction that's taking place will finish out within the next few years and at that point things will be hopping in that part of town. If you're even remotely considering it you should move quickly, as your brokers are correct - prices are going to continue to climb.

RM

[HeadedWest2020]

Originally Posted by MortonR

This area is HOT due to the massive amount of development going on downtown. Prices are rising rapidly, so much so that some properties have attempted to run owners out who bought at the bottom of the market a few years ago by invoking major assessments and other such ploys.

There's not a lot going on there as far as nightlife and restaurants just yet, but the construction that's taking place will finish out within the next few years and at that point things will be hopping in that part of town. If you're even remotely considering it you should move quickly, as your brokers are correct - prices are going to continue to climb.

RM

Appreciate the detailed reply. I plan on taking a trip during the holidays to view a few units.

[MortonR]

Originally Posted by HeadedWest2020

Appreciate the detailed reply. I plan on taking a trip during the holidays to view a few units.

I’ve worked downtown for a number of years as well as having coworkers that live downtown as well as nearby areas that are equally “hot” like Tampa Heights. The changes taking place in just the last year or two are really exciting for the area, as prior to this the sidewalks pretty well rolled up once the business day was over.

There’s a lot of big money commitment to this, so I don’t see it failing. Both Jeff Vinic, the owner of the Lightning hockey team and investors like Bill Gates’ investment firm are in on this. With the USF heart institute and other businesses committing to the area the future is quite bright for development and living space.

RM

[Trip Mcnealy]

Originally Posted by HeadedWest2020

Anyone have any insight on the condos in Channelside (Grand Central, The Place at Channelside, etc)? A buddy of mine shared his boss purchased a couple years ago when Tampa prices were considerably lower (215k for his 2 bdr condo), and now a few are on the market nearing 300k, with no end in sight according to a few re agents I spoke to this week.

In terms of space/price/location- The Place is really solid. It was initially built to be condos (dont hear neighbors, quality appliances etc), transitioned to rentals and is now back to being condos. You can still rent, however. I've heard mixed things about GC.

[HeadedWest2020]

Originally Posted by Trip Mcnealy

In terms of space/price/location- The Place is really solid. It was initially built to be condos (dont hear neighbors, quality appliances etc), transitioned to rentals and is now back to being condos. You can still rent, however. I've heard mixed things about GC.

Thanks Trip. I only know a couple ppl with boots on the ground and knowledge of these units, but the one who was familiar with GC rented from a snowbird couple for 2 years and loved it simply for location. He is moving to the new midtown apartments when they open next yr. I prefer not to rent (personal preference) so likely will buy in early Q1.

[Trip Mcnealy]

Originally Posted by HeadedWest2020

Thanks Trip. I only know a couple ppl with boots on the ground and knowledge of these units, but the one who was familiar with GC rented from a snowbird couple for 2 years and loved it simply for location. He is moving to the new midtown apartments when they open next yr. I prefer not to rent (personal preference) so likely will buy in early Q1.

Cant beat the location of either. In terms of where Tampa's at and the prices for a 2 BR- I think you're still ahead of the curve. Your boss really made out though. If you do buy- you'll always have rental prospects if you decide to move down the road, especially with the med school opening.

Another note on the Place- the amenities dont quite stack up against the newer buildings in the area, but that doesnt always matter to everyone. The HOA is one of the more reasonable in the area too it seems.

[HeadedWest2020]

Originally Posted by Trip Mcnealy

Cant beat the location of either. In terms of where Tampa's at and the prices for a 2 BR- I think you're still ahead of the curve. Your boss really made out though. If you do buy- you'll always have rental prospects if you decide to move down the road, especially with the med school opening.

Another note on the Place- the amenities dont quite stack up against the newer buildings in the area, but that doesnt always matter to everyone. The HOA is one of the more reasonable in the area too it seems.

From what I could gather - the newer condos are priced out of my ballpark (450k+). Am I missing any aside from the 2 mentioned in that area?

[Trip Mcnealy]

Originally Posted by HeadedWest2020

From what I could gather - the newer condos are priced out of my ballpark (450k+). Am I missing any aside from the 2 mentioned in that area?

I think units at The Slade are condos.