What the CEOs said about Tampa Bay companies, economy in Q2 calls

Quarterly conference calls between executives at leading public companies and analysts who follow their firms often contain great insights into the Tampa Bay economy and some of its leading companies.

Here are some of the most intriguing comments from second quarter 2015 conference calls in the past few days.

“The already strong local economy was enhanced this quarter by tourists enjoying the spring weather and the Tampa Bay Lightning’s run to the Stanley Cup Final. Indicative of this: hotel’s… …read more

Historic Davis Islands mansion sold, to be demolished

A waterfront Davis Islands mansion built in 1928 will be razed to make way for a new home.

Geoffrey Duyk and Ulrike B. Wolter paid $3.3 million for the home at 84 Adalia Ave. in a sale that closed Wednesday, according to Hillsborough County property records.

The seller was Richard J. Salem.

The house was placed on the National Register of Historic Places, but was removed from the register during the marketing process, said Jim Walters, an agent with Smith & Associates in Tampa.

The home was on… …read more

Apartments near Oxford Exchange will cater to baby boomers

Apartments aren’t just for millennials at Altman Development Corp.

The Boca Raton-based developer has proposed a 274-unit apartment complex with 5,000 square feet of retail space at 504 Grand Central Ave., across the street from Oxford Exchange.

The northern building, fronting Grand Central Avenue, will be six stories, with 5,000 square feet of storefronts lining Grand Central. The parking garage will be eight stories, with an eighth-floor amenity deck that includes a pool, a two-lane bowling… …read more

Garanimals exec lists waterfront Sarasota mansion for sale (Photos)

A sprawling waterfront mansion that has a 500-bottle wine room, deep water dockage and is minutes from downtown Sarasota is on the market.

The 8,100-square-foot home at 552 South Spoonbill Drive on Bird Key is listed at $6.25 million by Judy Kepecz-Hays of Coldwell Banker Residential Real Estate’s Longboat Key office.

The owner is Jerald Kamiel, president of Garan Inc., the parent company of children’s clothing maker Garanimals, according to Sarasota County property records. Kamiel paid $4.75 million… …read more

More millennials living with parents now than during the recession

Despite an improved job market, more millennials are living with their parents today than at the depth of the recession.

That’s according to a new Pew Research Center analysis of U.S. Census Bureau, which found that the share of young adults living in their parents’ homes has increased from 24 percent in 2010 to 26 percent in the first quarter of 2015. During the same period, the unemployment rate for adults ages 18 to 34 dropped from 12.4 percent in 2010 to 7.7 percent this year.

Despite the… …read more

Exclusive: After neighborhood angst, developer revamps plans for apartments near Oxford Exchange

A Boca Raton developer’s plans to build an apartment community near the Oxford Exchange have evolved significantly in the last three months.

Altman Development Corp. has nearly doubled the amount of retail space in Altis Grand Central, the 274-unit apartment complex the company is proposing on the 2.51-acre site at 504 Grand Central Ave. Its first proposal, filed with the city in April, was an apartment building and parking garage; in late June, the company revised its plans to include two 1,300-square-foot… …read more

Millennials prefer walking to driving, so housing market is changing

The days of suburban cul de sacs are numbered: Millennials prefer walking over driving by 12 percentage points, according to a new poll conducted for the National Association of Realtors.

That’s the largest margin in favor of walking for any generation. Millennials want to live within walking distance to shops and restaurants, and have a short commute to work. They also favor expanding public transportation and alternatives such as biking.

The housing market must change to meet these preferences.… …read more

New home sales fall in June, but are still 18% above last year’s pace

New home sales dropped nearly 7 percent in June to a seasonally adjusted annual rate of 482,000, the lowest level in seven months.

The good news is that this sales level is still 18 percent above what it was a year ago.

Compared with May, sales fell in the West, Midwest and South, but jumped 28 percent in the Northeast, according to the U.S. Census Bureau report.

The median sales of new houses was $281,800, up slightly from May. but below the median sales price in June 2014.

New home sales represent… …read more

The risk and rewards of being a pioneer

Larry Feldman has been in Tampa Bay for five years, but his latest real estate play is definitely a nod to his Manhattan roots.

The CEO of Feldman Equities Inc. has proposed a 52-story mixed-use tower in downtown Tampa, on a vacant lot at the intersection of South Ashley Drive and East Brorein Street.

In 2005, another developer had licensed Donald Trump’s name for a 52-story condominium tower on the site, but those plans crashed along with the real estate market.

Feldman’s concept — stacking… …read more

Downtown St. Pete’s newest condo tower breaks ground

A condominium tower with ground-floor retail has broken ground in downtown St. Petersburg.

The Salvador is under construction on Dali Boulevard at Second Street and Fifth Avenue South. It will be 72 units in 13 stories with 3,000 square feet of retail space.

Construction is estimated to take 14 to 16 months. The units are priced from $345,000 to $1.4 million, and “nearly 50 percent” of the units were presold, according to a statement from the developer, Tampa-based DDA Development. Smith & Associates… …read more