What’s behind the boom of the Downtown St. Pete Real Estate market?
Nationally the demand for residential housing near pedestrian-friendly city centers has been phenomenal for several years. Downtown St. Petersburg, Florida is no exception to that. With its restaurants, the arts, and a laid-back, breezy vibe, Downtown St. Pete is an ideal spot for urban dwellers.
The city’s economic development director, Dave Goodwin, agrees. “The market for downtown urban living, being able to walk instead of drive, is strong everywhere. It’s the strongest I’ve ever seen,” he said. “More and more folks — young folks, empty nesters, retirees — want to be living in a walk-able, urban environment…St. Pete happens to have that environment in a big way.”
In a recent article in the Tampa Bay Times on residential growth Katherine Snow Smith reported:
“(Downtown St. Pete’s) residential development boom is in full swing. Three apartment buildings are completed, four more are in various stages of construction and six condo projects are under way. By the time they are all finished, 2,031 new homes will be added within less than a mile of downtown’s waterfront.”
At Domain Homes we have seen that there is a really strong demand for new construction, single family homes as well. With an uptick in good-paying medical, educational, and tech professional jobs, many young professionals will be looking for homes in Downtown St. Pete. Domain Homes currently has 14 new homes in St. Petersburg under construction to be completed before 2016.
At Domain Homes, our philosophy is simple… to build homes that inspire and enrich our homeowners lives. For more information, check out our website www.domainhomes.com and be sure to “Like” us on Facebook.