APRIL 2020/VOL 2/ISSUE 4
TAMPA BAY INSIDER
FEATURES, TRENDS, AND EVENTS FROM:
Three new residential towers in Tampa’s West River redevelopment will officially begin construction Tuesday, bringing the first mixed-income buildings to the $350 million project. Related Urban Development Group — the affordable housing arm of Miami-based Related Group, best known for its luxury condominiums — and the Tampa Housing Authority will celebrate the groundbreaking of The Boulevards at West River.
The West River redevelopment — a 120-acre area bound by Rome Avenue, Columbus Avenue, the Hillsborough River and Interstate 275 — represents the next era of Tampa’s urban revitalization. The plan recommends reconnecting the streets and blocks to each other, strong ties with public education and community services, a keen focus on linkages along the Hillsborough River to emergent activities south of I-275 in North Hyde Park to the waters of Tampa Bay, and more than 1600 new residential units, with a variety of housing styles and affordability. Ultimately, over the next 10 years, the goal is to have created a genuinely diverse and economically integrated community. In mid-2017, the city demolished the aging North Boulevard Homes, a public housing project, to make way for the redevelopment. The Julian B. Lane Riverfront Park also received a massive, $35 million renovation to help spur private investment in the area.
The city is also prepping to re-issue a request for proposals for a prime 18-acre piece of city-owned land in the West River, looking specifically for developments focused on affordable housing, transportation and sustainability.
In addition to revitalizing West Tampa, the West River project also addresses a growing issue in Tampa: affordable housing. A lack of affordable units in the city proper is a concern among business and civic leaders, and addressing that need is a top priority for Mayor Jane Castor.
Read full article by clicking here.
The redevelopment of this area has been in the works for many years. After a long search for the right developer, the Tampa Housing Authority hired the well-known Miami-based Related Group. In my opinion, hiring the right developer for this project is key to its long-term success. Rent in Downtown, Channelside, and Riverside Heights areas have all become unaffordable for many over the past 3-5 years. While many new apartments have been built, none have been focused on affordable housing. There is no doubt there is a need for quality affordable housing in and around Downtown Tampa. This is the number one reason why this project is so significant to Tampa’s Urban core. The most interesting feature of this development to me is it is going to offer a variety of housing, including market-rate apartments, affordable apartments and apartments eligible for rental assistance demonstration.
It is going to truly be a mixed-income, mixed-use development. This is incredibly unique as most developments attract people of similar socio-economic backgrounds. The project’s location is extremely desirable, and the finishes they are putting in the apartments and the amenities available, will attract market-rate residents as well. If the Tampa Housing Authority and Related Group pull this off, it could be a blueprint for private/public partnership on how to design developments that attract people of all socio-economic backgrounds. It is also important to Water Street’s success as they continue to attract young professionals with tech backgrounds for all the start-up incubators they have planned. In order to make Water Street attractive, they need to be able to offer affordable housing options in the Urban Core where these young techies can live and play where they work. People of all ages and especially the younger population more than ever are looking to ditch their car for walking and alternative transportation options.
CHECK OUT THESE LINKS:
To learn a new skill while you’re home, you can click here.
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WHAT’S HAPPENING THIS MONTH:
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The virtual platform has taken off. Check out a few of our favorites on Facebook Live:
KIDS EVENTS THIS MONTH:
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Check out some daily events for kids:
With life seeming to change each morning, make sure to stay connected with free news brought to you by the Tampa Bay Times. They are keeping you updated on the Corona Virus and how it is impacting our Tampa Bay area. https://www.tampabay.com/coronavirus/
If you do not receive updates from the City of Tampa, make sure to sign up by texting:
TAMPAREADY to 888-777.
MEDS (Mediation, Exercise, Diet, and Sleep)
In a time where self-care is essential, following a MEDS (Mediation, Exercise, Diet, and Sleep) plan will not only add to your life, but it could create a centering space of sanity and wellness. Check us out every Monday on the Kincheloe Group’s Facebook Page for #MindsetMonday where will be sharing our weekly MEDS for you to follow. Here’s a sneak peek of next week’s MEDS.
Check out these free apps (downloadable for iPhone or Android).
Find calmness, wellness, and balance in your life with this app’s guided meditation and mindfulness techniques for daytime use. Before bed, try any of its 10 new sleep music tracks or 16 nature soundscapes. The app builds personalized plans based on a little input from you, so you can learn the essentials of meditation and build from there.
This award-winning app has calming exercises, breathing techniques to help you relax, and even a Calm Kids section with meditations for kids between 3 and 17. The new Sleep Stories section features a great mix of voice talent — you may recognize actors Matthew McConaughey or Jerome Flynn — to lull you to sleep. A recent update to the Calm app makes for a mindful experience through the Apple Watch, with three new breathing exercises, a mindful walking meditation, and calming exercises you can all access right from your watch.
You don’t have to be a full-blown ‘yogi’ to use Asana Rebel. This handy little fitness app offers the perfect introduction to the regime. Rather than bombarding you with annoying notifications, you get a green dot on the built-in calendar when you train. You also get two new workouts every day so you’ll never get stuck doing the same old routine. When you first login to the app – using Facebook or an email – you’ll see a screen that asks you to ‘unlock’ the premium version. Don’t be fooled. You can still use the free option by simply clicking the exit button at the top of the screen.
Daily Workouts Fitness Trainer
Ideally, staying fit and healthy means hitting the gym or track regularly. However, sometimes, you may not have the chance to get out nor the time to dedicate to it. The Daily Workouts Fitness Trainer app means you can exercise well in the comfort of your own home. You can choose which area of your physique you’d like to target and the app offers a simple yet effective five to 30-minute workout that fits the bill. The uniquely genius thing about this app is its simplicity. Download it, pick a discipline, and get working
Tasty is the smartphone app for one of the largest recipe networks in the world: BuzzFeed Tasty. Tasty gives you access to thousands of recipes along with the written instructions and videos so it’ll be easier for you to prepare any dish. When you start the app, you can indicate your food preferences: if you’re a vegetarian, you can indicate that you want meat-less recipes. You’ll find new, colorful, fun and yummy everyday recipes that Tasty will help you prepare and they almost all include those elements that make a recipe viral: colorful cakes, a presentation that’s unique and fun and creative ideas that’ll impress anyone.
Tasty also includes a section of special cloud stickers so you can always find the perfect recipe: easy recipes, three ingredient recipes, raw chocolate recipes, melted cheese or colorful cocktails. You can also create a favorite recipes section where you can save all the ones you want to try.
The Whole Pantry
The Whole Pantry is the first of its kind, combining inspiring whole food recipes with Lifestyle and Wellness Guides.
We don’t want to convert anyone from one diet or lifestyle to another, but rather encourage more of the basic foods (fruits and veggies) back into our diets where possible. TWP gives you a ‘back to basics’ approach to both cooking and nutrition, providing a whole foods base for any dietary preference or lifestyle. Our meals are all created with its benefits in mind, to improve sleep, lose weight, clear skin, reduce allergies, better digestion or balance moods – we’ve got it covered!
Insufficient sleep is a public health epidemic, the Centers for Disease Control says. Not getting enough shuteye can lead to trouble concentrating, remembering and even operating a vehicle. Adults need 8 hours of sleep each night, but most Americans report an average of 6 hours. Luckily, technology can help.
Sleep Cycle takes the scientific approach to waking you up after a good night’s rest. Using your smartphone’s accelerometer and other sensors to record your sleeping habits, the app uses sleep cycle theory to wake you at just the right time, ensuring you’re getting optimal rest. Users set a window of time (say a 30-minute stretch) instead of a traditional pinpoint alarm time, and when the app judges that your sleep movement is just right, it will ring the alarm to wake you. In addition to the smart alarm, Sleep Cycle records your sleeping habits for tracking sleep quality over time.
It’s beautiful, calming interface makes you want to fall asleep just looking at it. Given that probably won’t happen though, how about letting the app lure you gently into dreamland with a relaxing soundtrack? Tide can intelligently stop the track once you’ve fallen asleep. (Yes, it knows. No, we don’t know how either.) Tide has a light wake-up alarm that nudges you awake during your lightest sleep phase (monitored during a window of time you select). One of its other great features is a set of calming breathing exercises, where your inhalations and exhalations are guided by sound.
The Best Delivery and Take-out for all your Foodie Needs
Tampa Bay foodies are worried their lifestyle is changing. Don’t fear Uber Eats, Postmates, and Door Dash are partnering up with tons of your local favorites and offering FREE delivery. Support your local businesses and order for pick up or delivery today.
If you’re in St. Pete check out these great spots for takeout.
If you’re in Tampa Bay, check out this list for great spots offering delivery and takeout (updating daily and specific to each county):
Hair of the Dog Park
At Seminole Heights’ Hair of the Dog Park, you can grab a drink while your pup plays at the new off-leash dog park, which offers craft beers and house wines, plus plenty of space for both small and large pooches.
The Dog Park owners are Todd Goldfarb and Mara Balda. The husband-and-wife team, who’ve lived in Seminole Heights for a decade, quietly launched their 30,000-square-foot off-leash, 21-and-older dog park in February. A big draw is the concession-stand bar pouring craft beers and house wines. Hair of the Dog serves cabernet sauvignon, merlot, pinot grigio and chardonnay. They are currently serving eight Tampa Bay drafts from breweries like Angry Chair, Brew Bus, Coppertail and Hidden Springs.
Check them out:
4211 N Nebraska Ave. Tampa, FL 33603
These Companies are Hiring Thousands of New Employees During the Coronavirus Pandemic
Coronavirus has drastically shifted the world’s buying habits, and businesses are rapidly adjusting to the new pandemic reality.
Many retailers are shut down, but consumers continue to flock to pharmacies, grocery stores and take-out restaurants. Demand for essential goods and food has skyrocketed and stores are hiring like crazy to keep up.
CVS, Instacart, Amazon, Walmart, Papa Johns, Domino’s, GE Healthcare, 7-Eleven, Dollar General and Grocers all over the country are hiring with this new shift in the economy.
What Are Essential Services
And Jobs During The Coronavirus Crisis?
Cities across the U.S. are on quarantine and other restrictions to slow the spread of the coronavirus. Many are wondering what does that mean for services, jobs and activities?
Although the list will likely vary according to local needs, here is a general idea of what may be considered “essential” according to various governments including San Francisco, Miami, New York state and Miami-Dade County that have already implemented lock-downs or restrictions:
- Gas stations, auto supply stores, auto repair shops and related facilities
- Grocery stores, farmers markets, food banks and convenience stores
- Liquor stores
- Restaurants (only for delivery, takeout and drive-thru)
- Hardware stores and plumbers
- Contractors and other tradesmen, appliance repair personnel
- Exterminators and other service providers
- Landscape and pool care businesses, including residential landscape and pool care
- Construction sites and engineering and architecture firms
- Banks and related financial institutions including insurance and accounting services
- Phone and computer sellers
- Community benefit organizations on a case-by-case basis
- Laundromats, dry cleaners and laundry service providers
- Healthcare providers, hospitals, clinics and healthcare operations including research and laboratory services, medical wholesale and distribution, and dentists
- Businesses that provide shelter and/or social services
- Newspapers, television, radio and other media outlets
- Businesses offering mailing and shipping services, including post office boxes
- Airlines, taxis and other private transportation providers
- Home-based care for seniors, adults or children
- Assisted living facilities, nursing homes, adult day care centers and senior facilities
- Pet supply stores
- Veterinary offices
- Police stations
- Fire stations
- Building code enforcement
- Garbage/sanitation and recycling services
- Public transportation (Muni, BART, subways)
- Utilities (water, power and gas, telecommunications)
- Certain city, county, state and federal offices
- Funeral homes, crematoriums and cemeteries
- Maintenance staff, cleaners, janitors and doormen
- Manufacturing including food processing, chemical, pharmaceutical, agricultural, paper products, safety and sanitary products
Housing Report: Tampa’s Housing Market Health Improved in February, While
St. Petersburg’s Fell
Tampa’s housing market health, measured by the difference in list price and sale price, improved in February, while St. Petersburg’s fell.
In a ranking of the 100 largest housing markets in the U.S., Tampa ranked as the 38th healthiest market, up three spots from the last ranking. In February, the city’s homes had a median price difference of $10,000, or a -2.70 percent median change in price.
St. Pete ranked as the 51st healthiest housing market, down two spots from the last ranking. A house listed in St. Pete sold for 2.94 percent less than its list price.
RealtyHop noted these numbers are for February, before the full impact of the coronavirus was felt on the U.S. housing market. It expects in next month’s report, which will include data from March, will more accurately show how the virus has impacted the market.
Stay tune for a webinar I will be doing on Friday April 3rd at 7:00 pm. I will be answering questions like:
*What is going on with the local real estate market?
*How is the pandemic impacting values and housing inventory?
*What to do now if I am looking to Sell or Buy in 2020?
The market is changing daily. In order to keep people updated I will be doing weekly market updates on the Kincheloe Group Facebook.
Tampa Bay Featured
Joy Mangano, the inventor behind the Miracle Mop and the inspiration for the 2015 film “Joy” starring Jennifer Lawrence, is selling her Tampa home for $2,225,000. Located at 4930 New Providence Ave., the 7,116-square-foot Culbreath Isles home comes with five bedrooms and six bathrooms, crown molding throughout, two fireplaces, a third-floor bonus room with a wet bar, a pool and spa, and a travertine patio.
Besides her famous self-wringing mop, Mangano was responsible for other notable inventions like the Huggable Hanger, Forever Fragrant and My Little Steamer. In 1999 Mangano sold her company, Ingenious Designs, to the St. Petersburg-based Home Shopping Network.
Let me just start off by saying if you haven’t seen the movie “Joy” portraying her life as a young female entrepreneur, I strongly encourage you to do so. It is an amazing American rags to riches story of a how a single mother of three built a fortune through her ingenuity and hard work. Miss Mangano originally put her house on the market 01/18/2019 for $3 million after she decided to leave HSN (Home Shopping Network) in 2018 to pursue other opportunities. There were three price adjustments and eventually the home was taken off the market at the last offer price of $2.75 million. It was relisted with the same agent two months later for a reduced price of $2.5 million and six months later it was taken off the market again failing to sell at the last offer price of $2.25 million. One-week later, Miss Mangano hired another agent and relisted the property for the same $2.25 million price the last agent failed to sell it at. The new agent was able to procure a contract in only 21 days. The interesting fact was the contract was executed on March 23rd the same week the City and County issued the Safer at Home order. This week the home was featured in the Tampa Bay Times as an example of how the Tampa Bay luxury real estate market is still performing strong despite Covid-19. The article didn’t, however, include any market data to support their article. They simply interviewed an agent who had a couple recent luxury sales and used that to substantiate their article. This is one of many reasons I will be doing weekly market updates. Miss Mangano purchased the home in 2006 for $1.9 million near the peak of the real estate boom. Over the past 14 years of owning the property Miss Mangano has done extensive remodeling and updating. You may be asking yourself if she made a profit on the home. The answer to the question would be no if you look at the numbers. She purchased the home for $1.9 and when you factor the costs of the improvements even if the home sold for the full asking price of $2.25 million, she would still likely be losing money. The good news for Miss Mangano is she bought at the peak and endured the worse real estate crash in US history and was able to sell for more than her purchase price. If you look at the prior person who owned the home before Miss. Mangano, they purchased the home in 1993 for $650k and sold it 13 years later for $1.9 million. They essentially sold the home for nearly 300% more than what they paid only 13 years earlier. Tampa real estate is still an excellent long-term investment.
Tampa Bay Featured
Former WWE superstar Chris Jericho recently sold his home in Odessa for nearly half the original asking price. Back on Dec. 11, the 4,872-square-foot home sold for $774,000, which is $536 less than its “Zestimate” and roughly 48% less than the original asking price of $1,149,999. Last November, Jericho dropped the asking price to $925,000 after bringing on WCW announcer David Penzer as his new real estate agent. The home was originally purchased in 2004 for $970,000.
The estate sets on a two-acre lot on Lake Breckenridge and comes with 4 bedrooms and 4.5 bathrooms, an outdoor kitchen, an enclosed pool, as well as 175 feet of waterfront. The wrestler didn’t move that far away, last February he purchased a $3.25 million home just down the street on Lake Keystone.
As mentioned above, the property sold on 12/12/19 for $774,000. The home was in good condition and all the major components of the house have been updated. Things like the air conditioning systems, roof, pool equipment, landscaping, etc. The interior of the home was original to the home which was built in 2001. So, essentially everything on the inside was outdated. This caused the home to sell for a lower price and created opportunity for someone to purchase the home and update the interior and sell it for a profit. That is exactly what happened. The person who purchased the property remodeled the interior and immediately relisted the home on 02/06/20 for $1.1 million and procured a contract in only 20 days. The home is scheduled to close on 04/07/20. It will be interesting to see what the final sales price is. Let’s take a quick long at the numbers. The remodel took less than 2 months which is not surprising because it was only a cosmetic remodel. Meaning nothing needed to be done to any of the major components or structurally. Based on my experience with remodeling and new construction I would estimate the new owner spent around $120,000. That means they are into the house for $894,000. They paid cash for the home so there were little closing costs. Obviously, they will have four months of holding costs and then closing costs when it sells. Their closing costs will be around 4.5% because the owner is a licensed agent. So, if the home sells for $1,025,000 and you subtract the 4.5% in closing costs you are looking at a net price of $978,875. If we subtract the amount they are into for after the costs of improvements $894,000 they are going to walk with a profit of around $84,875. I know that may not sound like a lot given the risk. It is a 10% return on investment in only 4 months. In a low inventory market like we are investor margins are much lower than years past. To me the biggest takeaway is the seller could’ve done this instead of giving the money away. Let’s look at what the return on investment would’ve been for the seller. The seller already owned the home, so all the seller had to invest was the cost of the remodel which was $120k. That $120k investment would’ve increased the purchase price by $251,000. That is more than a 200% ROI. Sure, the seller would’ve had holding costs of 2 months to complete the project. Even taking that into account the seller is still more than doubling his investment. This is where my expertise comes in. I help my clients maximize their equity rather than leaving this kind of money on the table by helping them execute the same strategies employed here. I can provide them knowledge of which improvement to do that will have the highest ROI. Who to hire to do the work at competitive pricing? Where to purchase the materials at wholesale prices. Essentially, I manage the whole project, so they do not even have to be involved.