It’s exciting to see added residential coming into downtown. It translates to bright skies ahead for stakeholders such as business and property owners.
Archive for year: 2013
I believe it was Tuesday of last week when I spent some time supporting friends and clients who landed on a common City Council agenda. It seemed to be a day for new and expanded activity in and around downtown. But soon after the meeting commenced we all found ourselves being taken back to our childhood. Multiple downtown companies had put in different requests, though their requests were new and exciting, it was really their names that got us all smiling.
At one point Councilman Miranda looked up from his agenda and stated, “I feel like we’re in a cartoon” and then he read off the following list…Pinky’s, Ducky’s, Cappy’s, and Duckweed. I’m not sure if this naming structure is a new trend but if nothing else it gave the council and everyone else in attendance some amusement. Another exciting part of that meeting was the actual requests, which I believe everyone received the approvals they were looking for that day.
Ducky’s Sports Lounge had their extended hours of operation approved. The establishment will be opening soon on Kennedy. Rays shortstop Evan Longoria is on board as an investor. They applied for these hours so they can stay open to cover sporting and entertainment events. This is a new concept to the area that should be lots of fun.
Duckweed Urban Market was approved to have on-premises beer and wine consumption in addition to their packaged wine and beer offerings.
We’ve made it halfway through the year, but I keep feeling like it’s only been a couple of months since we embarked upon 2013. In business circles, people are still talking about a momentum and energy that seems to be sticking around and gaining traction.
We feel it in our business as normal market participants enter the market as opposed to only the banks selling off their distress. Yes, in the top commercial districts and certainly in the residential market, somehow we’ve blinked and the “deals” seem to have disappeared. For investors that presents a challenge, but for much of the market that signals a bit of a return towards normalcy…for what it’s worth in the complex, creative, and high stakes sphere of commercial real estate.
Another barometer is that our friendly bankers are back into the market and are beginning to not just talk the talk but to actually be participating in new loan origination, for the right deals of course.
With our focus on Tampa’s City Center and surrounding neighborhoods which are experiencing high demand volume especially in the residential sector, we’re seeing much of this improved demand being driven and multiplied by forces such as energized leadership, events and entertainment, and the desire to be a part of something grand…the renaissance of a great city.