C a p i t a l M a r ke t s | M u l t i f a m i l y

SkyHouse, Tampa, Under Construction

TAMPA BAY AREA

M U LT I F A M I LY
DEVELOPMENT PIPELINE

2ND QUARTER 2014

: : TA M PA B AY A R E A
1

C a p i t a l M a r ke t s | M u l t i f a m i l y

Multifamily Construction Pipeline Second Quarter 2014

C O N TA C T S
: : John Selby
Senior Vice President
+1 813 273 8413
john.selby@cbre.com
: : Sean Williams
Senior Vice President
+1 813 273 9410
sean.d.williams@cbre.com
: : Jason Quick
Financial Analyst
+1 813 273 8446
jason.quick@cbre.com

In the seven county Tampa Bay market area, which includes: Hillsborough, Pinellas, Pasco, Polk, Hernando,
Manatee and Sarasota Counties, there are approximately 225,587 existing apartment units. There are
3,080 units currently in lease-up, as well as twenty-two communities containing 6,518 units that are
under construction and scheduled for delivery in 2014-2015. Additionally, there are 8,175 units in the
active planning stages. The majority of the units that are under construction or being planned are located
in four submarkets: Tampa CBD, Westshore, St. Petersburg CBD, and the Gateway submarket.
The Tampa Bay area gained a new supply of apartments in 2013 which totaled just under 2,000 units.
For perspective, the Tampa Bay areas multifamily completions averaged 2,244 units per year during the
previous ve year time period.

Annual Completions
Completed

Anticipated Complections

6000
5000

: : Molly Molloy Catlett

Client Services Specialist
+1 813 273 8451
mollymolloy.gambel@cbre.com

CBRE - Tampa Ofce

101 East Kennedy Boulevard
Suite 1500
Tampa, Florida 33602
+1 813 229 3111 T
+1 813 223 7411 F
cbre.com/invtampabaymultifamily

4000
3000
2000
1000
0
2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

For additional information on this Pipeline Report or the Tampa Bay area multifamily market, please
contact John Selby or Sean Williams.

2014 CBRE, Inc. Licensed Real Estate Broker. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not
verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.

The Epic at Gateway, St. Petersburg, Under Construction

Azure, St. Petersburg, in Lease-up

Altis at Highland Park, Tampa, Under Construction

PierHouse, Tampa, in Lease-up

Ranch Lake, Bradenton, in Lease-up

LEASE UP
NOHO Flats

5
6

3
2

9
Modera Prime 235

Jefferson Westshore

10

LEASE UP

HILLSBOROUGH COUNTY
Map #

Property Name

Developer/Owner

Submarket
Brandon

Location

# Units

Occupancy

9712 Bosque Creek Circle

344

70%

120 South Meridian Avenue

356

65%

405 Rome Avenue

311

38%

Crescent Crosstown

CRGG

PierHouse at Channelside

The Related Group

NOHO Flats

Pollack Shores Real Estate

Group

Jefferson Westshore

Jefferson Apartments

Westshore

6608 South Westshore Boulevard

246

61%

Sedona

The Richman Group

Westshore

12901 Saddle Club Circle

240

81%

Modera Westshore

Millcreek Residential Trust

Westshore

4504 West Spruce Street

300

64%

Tampa CBD
Central Tampa

Totals # of Units

1,797

PINELLAS COUNTY
Map #

Property Name

Developer/Owner

Modera Prime 235

Millcreek Residential Trust

Azure

Courtney at Bay Pines

Submarket

Location

# Units

Occupancy

St. Petersburg CBD

235 3rd Avenue North

309

8%

Urban Oaks

Gateway

540 Trinity Lane North

308

25%

Contravest

Bay Pines

4652 Miramar Drive

330

33%

Total # of Units

947

SARASOTA - MANATEE COUNTIES

Map #
10

Property Name
Ranch Lake

Developer/Owner
FRT

Submarket
Bradenton

Location
8110 Misty Wood Avenue
Total # Units:

# Units

Occupancy

336

9%

336

HILLSBOROUGH COUNTY

16

18

13

1
4

17
11 15
12
8
3 14 19

6
7

Tampa Skyline

5
9
10

7
Post Soho Square

Varela Westshore

HILLSBOROUGH COUNTY

UNDER CONSTRUCTION
Map #
1

Property Name

Developer/Owner

Submarket

Varela Westshore

Northwood-Ravin

Broadstone Hyde Park

Alliance Residential
Company

Westshore
Central Tampa

Crescent Bayshore

Crescent Resources

Tampa CBD

Post Soho Square

Post Properties

Oxford Crosstown Walk

Oxford Properties

Central Tampa
Brandon

Location
South-East Corner of Spruce Street
& Lois Avenue
Block of Rome Avenue, Cleveland
Street, Packwood Avenue & Kennedy

# Units
350
259

319 Bayshore Boulevard

367

712 South Howard Avenue

231

10143 Palm River Road

342
239

Altis at Highland Park

Altman Companies

Citrus Park

Fountainhead Drive & Race Track

Road

Tapestry at Citrus Park

Arlington Properties

Citrus Park

12870 Olive Jones Road

400

SkyHouse Channelside

Novare Group

Tampa CBD

11th Street & Whiting Street

320

Unknown

Bainbridge Companies

Brandon

Crosstown & I-75

256

Brandon

Wes Kearney Way & Crescent Park

Drive

310

10

Oasis at Brandon

Picerne Real Estate Group

Total # of Units

3,074

PLANNED
Map #

Property Name

Developer/Owner

Submarket

Location

# Units

Tampa CBD

Next to 1010 North Maccines Place

380

Tampa CBD

Whiting Street & Morgan Street

341

Central Tampa

North Boulevard & Ross Avenue

280

11

Residences at Straz

Intown Group & Framework

Group

12

Whiting Tower

Richman Group

13

The Heights

Riverside Heights
Development

14

Harbour Island

The Related Group

Tampa CBD

402 Knights Run Avenue

300

15

Martin at Meridian

Mercury Advisors

Tampa CBD

1115 East Twiggs Street

316

16

Unknown

Framework Group &

Northwood-Ravin

Westshore

4301 West Spruce Street

262

17

Unknown

The Related Group

Tampa CBD

East of the Straz Center

350

18

Unknown

Richman Group

Tampa CBD

3860 West Columbus Drive

550

Tampa CBD

Knights Run Avenue & Harbour

Place Drive

235

19

Unknown

Forge Capital

Total # of Units

3,014

PINELLAS COUNTY
The Epic at Gateway Centre

16

11
6
Ibis Walk

Beacon 430

3
10
15
5

12 13
2

14

8 1
7 4

Downtown St. Petersburg

Photo ourtesy of The City of St. Petersburg

PINELLAS9COUNTY
UNDER CONSTRUCTION
Map #

Property Name

Developer/Owner

Beacon 430

NRP Group

Ibis Walk

Grady Pridgen, Inc.

Submarket
St. Petersburg CBD

Pollock Shores Real Estate

Group
American Land Ventures
LLC

Gateway North

Residences at 330

The Epic at Gateway Centre

The Richman Group

Prospect Square

Prospect Real Estate Group

Location

# Units

400 3rd Avenue South

300

Gateway

10301 Dr. Martin Luther King Jr.

Street North

401

Gateway

2681 Roosevelt Boulevard

342

St. Petersburg CBD

330 3rd Street South

358

Gateway

3115 Grand Avenue

320

Cleveland Street & South Prospect

Avenue

247

Clearwater

Total # of Units

1,968

PLANNED
Map #

Property Name

Developer/Owner

Submarket

Location

# Units

25 Second St N

Florida East Coast Realty

St. Petersburg CBD

25 Second Street North

385

The Hermitage

Allen Morris Residential

St. Petersburg CBD

700 1st Avenue South

248

Bayview Gardens

Pollack Shores Real Estate

Group

25 Cross Circle

426

10

All in One Golf Site

Dockside Investors

Largo

12700 66th Street North

260

11

Dunedin Gateway

Pizzuti Companies

North Pinellas

Across from 601 Main Street

124

12

Bayfair Properties

Bayfair Development

Gateway

10980 Oaks Street North East

150

13

Royal Palm Bay Apartments

Wal-Mart

Gateway

Gandy Boulevard

381

14

Pointe at Stillwater

DLTB Development

Seminole

104th Street North & 70th Avenue

222

Gulf-to-Bay Boulevard & Belcher

Road

240

US 19 & Terrace Road

120

Clearwater

15

Broadstone Lakeside

Alliance Residential

St. Petersburg CBD

16

Capon Corporation

Capon Corporation

North Pinellas

Total # of Units

2,556

MANATEE & SARASOTA COUNTIES

Panorama of Sarasota

RiverSong

5
9
7

8
3

One Palm

2
1

The Venue at Lakewood Ranch

RiverSong

10

MANATEE & SARASOTA COUNTIES

11

UNDER CONSTRUCTION
Map #

Property Name

Developer/Owner

Submarket

One Palm

John Meshad

Sarasota

The Venue at Lakewood

Ranch

Venue Sarasota Investors

Bradenton

Lost Creek Phase II

PAC Land Development

Bradenton

Park Crest Landing

CKT Development

Bradenton

RiverSong

Hatfield Development

Bradenton

Location

# Units

Ringling Boulevard and Palm

Avenue

141

8240 Lakewood Ranch Boulevard

237

Lakewood Ranch Boulevard and

Malachite Drive
1st Avenue East and Cypress Creek
Boulevard
South of Bradenton Riverwalk
Total # of Units

256
399
179
1,212

PLANNED
Map #
6

Property Name
Oakwood Bradenton

Developer/Owner

Submarket

Oakwood Apartments

Location

# Units

Bradenton

6720 15th Street East

148
225

Bowlees Creek

Gulfside Homes, Inc.

Bradenton

North of Bowlees Creek, South of

69th Avenue West

Unknown

Davis Development

Bradenton

North of State Road 70 & Pope Road

270

Unknown

Bank Owned

Bradenton

South East Corner of State Road 70

& Lockwood Ridge Road

150

Total # of Units

11

793

PASCO COUNTY

5
6

Shops at Wiregrass

St. Leo University

12

PASCO13
COUNTY
UNDER CONSTRUCTION
Map #
1

Property Name
Bonterra Parc

Developer/Owner
AG Spanos

Submarket

Location

# Units

Pasco

Northwood Palms Boulevard & State

Road 56

264

Total # of Units

264

PLANNED
Map #

Property Name

Developer/Owner

Submarket

Location

# Units

Pasco Town Center

Shailendra Group

Pasco

I-75 & State Road 52

800

Epperson Ranch

Lennar Corporation

Pasco

State Road 52 & State Road 54

N/A

Mitchell 54 West

Kitson & Partners

Pasco

State Road 54 & Little Road

250

Trinity Club Phase II

Adam Smith Enterprises

Pasco

Torino Drive

300
234
228

Quail Ridge

Anmar Builders

Pasco

State Road 52 East of Suncoast

Parkway

New River Road Apartments

Terrace Investors, LLC

Pasco

New River Road & State Road 54

Total # of Units

13

1,812

: : John Selby
Senior Vice President
+1 813 273 8413
john.selby@cbre.com
The CBRE Tampa Multifamily team provides capital
market expertiese throughout the seven county
Tampa Bay area which includes: Hillsborough,
Pinellas, Sarasota, Manatee, Pasco, Polk and
Hernando counties.

: : Sean Williams
Senior Vice President
+1 813 273 9410
sean.d.williams@cbre.com

CBRE-Tampa Ofce
101 East Kennedy Boulevard
Suite 1500
Tampa, Florida 33602
cbre.com/invtampabaymultifamily

2014 CBRE, Inc. Licensed Real Estate Broker. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation
about it. It is your responsibility to independently confirm its accuracy and completeness.