Two strong quarters in a row for GDP, but economy still a little soft (Video)

By Kent Hoover

The Federal Reserve’s confidence in the economy was rewarded by a better-than-expected report on economic growth in the third quarter.

Gross domestic product increased at an annual rate of 3.5 percent in the third quarter, according to an initial estimate by the Bureau of Economic Analysis.

We can thank personal consumption, exports, nonresidential fixed investment and government spending for this jump, according to the bureau.

The strong third quarter followed 4.6 percent GDP growth in the second…

Source:: BizJournal Real Estate

Cypress Falls at Palm Harbor hits the market

By Alexis Muellner

The Palm Harbor apartment complex Cypress Falls is on the market.

It was originally completed as a 432-unit apartment community and converted into condominiums in 2005.

Following a national trend, Tampa Bay apartment communities are in high investor demand, driven by high occupancies and demand from renters that continues to push up rental rates. Investors are chasing all levels of the properties — from brand-new, top-tier communities to older ones that need some work.

Current ownership of Cypress…

Source:: BizJournal Real Estate

Metropolitan Ministries and Hillsborough County to build new school for Miracle Place kids

By Jo-Lynn Brown

Metropolitan Ministries and the Hillsborough County Schools District are partnering to build a new school for the children that call Miracle Place their temporary home.

The new 20,000-square-foot educational facility will have eight classrooms that will collectively fit up to 150 students grades kindergarten through fifth grade, according to a statement.

The school, to be named The Patricia Sullivan Metropolitan Ministries School, will be located at 2202 N. Florida Ave., Tampa.

“What we are witnessing…

Source:: BizJournal Real Estate

This CEO sold her house to fund her company

By Caroline McMillan Portillo

Jody Porowski is the co-founder and CEO of Avelist , an online platform for people to find and share information — all in list form. She and her co-founder, Josh Jodrey, launched the company in 2012, and it has now grown to 42,000 regular users a month.

Porowski developed Avelist while working full-time at SAS (short for Statistical Analysis System), a company offering business analytics and intelligence software that came in at No. 2 on Fortune’s “2014 Best Places to Work” list. In 2013, Porowski…

Source:: BizJournal Real Estate

How the owner of a tugboat company prepped Laurie Baker for a career in real estate

By Hilary Burns

Editor’s note: One of our favorite quotes comes from Madeleine Albright, who once said: “There is a special place in hell for women who don’t help other women.” We couldn’t agree more. So every Monday, we will be talking with different women from around the country about mentorship — what it means, how to do it and why it’s well worth the effort.

The first person Laurie Baker considered a mentor was a woman she met in high school, a friend’s mother who owned a tugboat company. Baker’s own mother…

Source:: BizJournal Real Estate

Developer restarting long-dormant New Port Tampa Bay project near Gandy and Westshore

By Chris Wilkerson

A South Tampa marina and condo project could be getting started again as a Fort Lauderdale development company says it is ready to resurrect New Port Tampa Bay south of Gandy Boulevard on Westshore Boulevard.

BTI Partners from Florida’s east coast acquired the title for 51 acres of the former New Port Tampa Bay project at Bridge Street and Gandy Boulevard, according to the Tampa Bay Times.

The developer is still investigating options for the best use of the property, but most speculate a mixed-use…

Source:: BizJournal Real Estate