As the economy perks up, so is demand for new homes and townhouses in two of Tampa Bay's most desirable places to live — South Tampa and the downtown St. Petersburg area. But with both almost built out, developers are either knocking down smaller, older homes to put up big new ones or turning their sights on less desirable but nearby neighborhoods where land is cheaper.
The "out with the old, in with the new'' mentality is reflected in the sharp increase in demolition permits. In St. Petersburg, the number of permits has shot up from 92 two years ago to 111 so far this year with three months to go. While some permits were for commercial or derelict properties, the addresses show that many were for tear-downs of older homes replaced by more opulent domiciles.
Home construction companies like Domain Homes have built dozens of homes in Port Tampa before recently turning to another neighborhood — St. Petersburg's Historic Uptown around Ninth Avenue N and Dr. Martin Luther King Jr. Street. It is less than 10 minutes from the downtown waterfront but much further away in terms of price and amenities.
In Pinellas County, Domain is already building on 10 non-waterfront lots in a modest part of Safety Harbor. When finished, the houses will go for about $380,000 yet be relatively close to far pricier waterfront homes, as well as to a quaint downtown and the renowned Safety Harbor Resort and Spa. Click here to read more: http://bit.ly/1KrikJj