41-story tower to break ground in downtown St. Pete

True to its word, Kolter Group is beginning construction on ONE St. Petersburg early.

The South Florida developer said Monday that it will celebrate the groundbreaking of the 41-story condominium tower on Friday. Once completed it will be the tallest building in downtown St. Petersburg.

“We are thrilled to begin building this iconic tower that will redefine St. Petersburg’s skyline and help further establish St. Petersburg as an international destination,” Kolter Urban President Bob Vail… …read more

For real estate developers, Tropicana Field has the potential to be a home run

The first time Jim Cloar saw Tropicana Field, it was a bit of a head-scratcher.

Cloar, a downtown revitalization consultant, was visiting St. Petersburg from Washington, D.C. in 1990. He was in town to give a speech, and a friend drove him past the stadium, which was then the Florida Suncoast Dome.

“I looked at him and said, ‘Why in the world did they build the stadium on this end of the site, when you have all this surface parking separating it from downtown?’” recalls Cloar, who now lives… …read more

House gambling plan that complements Seminole Tribe compact could get overhaul

House Finance and Tax Chairman Matt Gaetz is pushing changes that would match up a House gambling proposal with an even more-expansive Senate bill, but aligning the two packages may not be enough to keep the measure rolling in the Senate.

Gaetz said Wednesday morning he plans to introduce a sweeping amendment to the House proposal at his committee’s meeting next week.

The House’s plan currently complements an agreement, called a “compact,” with the Seminole Tribe of Florida, struck by tribal leaders… …read more

Masonite opens the door to new capital strategy

Masonite International Corp. plans to buy back up to $150 million of its own stock.

It’s a way for Masonite (NYSE: DOOR), a Tampa company that designs and manufactures interior and exterior doors, to return value to its shareholders, Fred Lynch, president and CEO, said in a press release.

Masonite’s stock buyback is at least the fifth share repurchase announced in the past several months by public companies based in Tampa Bay and one of the largest buybacks, second only to a $250 million repurchase… …read more

Bank initiative opens ‘world of credit’ to some Tampa Bay snowbirds

Tampa Bay businesses, ranging from Realtors to manufacturers to art dealers, stand to benefit from a BMO Harris Bank initiative that gives more buying power to Canadians who winter in Florida.

The program — called “cross-border banking” — allows Canadians access to their funds at BMO Bank of Montreal, without having to convert Canadian currency to U.S. dollars, said Anthony Perez, assistant vice president and manager of BMO Harris Bank in downtown Tampa. That’s key because $1 in Canadian… …read more

Florida real estate agents could get protections from crime

People who commit violent crimes against real estate agents would face stiffer penalties, under a measure that started to move Monday in the Senate.

Members of the Criminal Justice Committee approved the proposal (SB 214), which would up the classification of assaults, batteries and sexual batteries against real estate brokers, broker associates or sales associates when they are showing property.

Sen. Jeff Clemens, D-Lake Worth, said he gets “nervous” about setting criminal laws that single out… …read more

​20 meetings in 24 hours: The ‘new’ Tampa Bay Partnership in Tallahassee

“I’m fired up,” said Tampa Bay Partnership CEO Rick Homans.

He’s still processing a whirlwind tour in Tallahassee this week with a delegation of nearly 20 Bay region business leaders and key elected officials, including Tampa Mayor Bob Buckhorn, St. Petersburg Mayor Rick Kriseman, and Pasco County Commissioner Kathryn Starkey.

The group managed a frenetic pace, holding 20 meetings in 24 hours. But more significant, the first trip of its kind in the more than 20-year history of the Partnership… …read more

State of sports business: Economics shift as tech expands

Technology is the undercurrent shaking up the sports industry.

From fan experiences to selling more merchandise, there are hardware and software advances that are changing sports economics, said Abraham Madkour, executive editor of Sports Business Journal, at the Tampa Bay Business Journal’ s 2016 Business of Sports event, Feb. 9 at Amalie Arena.

Near the top of his list is “cord cutting,” or getting rid of basic cable television packages as more people turn to alternatives such as streaming… …read more

Warehouse Lofts developer ices plans for next Seminole Heights project

The developer behind the Warehouse Lofts, an adaptive reuse project in Seminole Heights, has walked away from plans to build a new mixed-use development in the neighborhood.

Wesley Burdette was under contract to acquire 5023 N. Florida Ave., which is owned by the Centre for Women. Burdette in November unveiled plans for an apartment-and-retail development on the site, with about 50 loft-style residential units and a 2,800-square-foot storefront.

The city’s architectural review commission sent those… …read more

Spec mansion on Davis Island sells for full list price (Video)

A speculative waterfront mansion on Davis Islands has sold for its full list price of nearly $6 million.

A local development group listed 556 Riviera Drive — a 7,600-square-foot West Indies-style mansion — for $5.995 million, and that’s exactly what it sold for in a deal that closed Feb. 12, according to a Hillsborough County deed filed Tuesday.

The buyer was a joint revocable living trust in care of Dennis A. Hase.

When the spec mansion broke ground in late 2014 — a 1960s ranch home was… …read more