Top of the List: Pinellas boasts Bay area’s wealthiest ZIP codes

The May 15 issue of the Tampa Bay Business Journal contains a List of the wealthiest ZIP codes in the Tampa Bay area. The rankings are provided by the Environmental Systems Research Institute (Esri).

Pinellas County is home to the highest number of ZIP codes on the List. The nine Pinellas locations represents a significant increase from the five that appeared on last year’s List. Hillsborough County, which was home to the highest number of ZIP codes on last year’s List, saw its number drop from… …read more

Housing starts hit seven-year high as builders see pent-up demand

Housing starts jumped 20 percent in April to a seasonally adjusted annual rate of 1.135 million, the highest number in more than seven years.

Building permits for housing units increased 10 percent to a seasonally adjusted annual rate of 1.143 million, up 10 percent from March, according to the Census Bureau.

Both numbers were higher than economists expected, but they don’t necessarily mean we’re at the beginning of a new housing boom. Home builders’ confidence in the housing market actually… …read more

Transit plan a recurring roundtable theme

Monthly, we invite a group of executives across a range of sectors to lunch. The goal is to gather business leaders in one place so we can develop strong story ideas, bolster relationships and stay informed.

Common threads emerge such as the region’s brand and labor and workforce gaps. But what comes up at nearly every gathering is the lack of great public transportation here.

This week, our focus was residential. With a compelling mix of brokers, developers and homebuilders, sure enough, transportation… …read more

TBBJ List: More about the top 5 wealthiest ZIP codes

About the tapestry codes

Tapestry Segment 9A: Silver and Gold

Household: Married couples, no kids

Housing: Single family, seasonal

Affluent retirees who live in exclusive communities in warm climates. We worked hard, invested wisely, and now we’re experiencing the payoff. We drive luxury cars or SUVs and donate generously to charities. We contract for home maintenance services so chores don’t interfere with our active social life, trips, golf games, and boating. The Internet is used to get… …read more

Downtown St. Pete apartments sold for $57.5 million

Fusion 1560, a five-story apartment complex on the fringe of downtown St. Petersburg, has been sold to a group of Chicago investors.

Mesirow Financial Real Estate Value Fund paid $57.5 million for the complex at 1560 Central Ave. in a deal that closed May 7, according to a Pinellas County deed filed Wednesday.

JLL represented the seller, Des Moines-based Principal Real Estate Investors, in the transaction.

The deal breaks down to $176,923 per apartment. The community was built in 2011, according… …read more

House backs business in ‘waters’ war with EPA

The Environmental Protection Agency would be required to withdraw a proposed regulation clarifying what bodies of waters are subject to the Clean Water Act under legislation passed by the House Tuesday.

That’s a victory for business groups that contend the EPA’s new definition of “waters of the United States” could include ditches, mudflats and other insignificant or temporary bodies of water, and give the government too much power over the use of private property.

“This legislation would… …read more

Tampa businessman ups bid on Rivergate Tower to $70 million

A Tampa businessman says he’s increased his bid on Rivergate Tower to $70 million, but he’s not “getting much of a response” from CBRE Group Inc., which is marketing the property.

Tom Frederick, who was a partner in Zeno Office Solutions before selling the company to Xerox in 2013, bid $60 million on the tower in mid-April.

He said he was told shortly after that he was outbid by “at least three” other parties, so he upped his offer to $67 million.

On May 7, he upped it again, to $70 million. He… …read more

Channel district apartment tower developers tweak project

Developers who have been working on an apartment tower in the Channel district for years are tweaking the project slightly, which could signal that construction is imminent.

Tampa-based Mercury Advisors has filed a substantial change request with the city that would remove two stories from the tower, add seven apartments and about 1,400 square feet of space. It would lower the building from 275 feet to 261 feet.

The current proposal would have 323 units in 21 stories and 38,233 square feet of retail… …read more

Exclusive: South Hillsborough mansion sales price jumps 11 percent in less than a year

The sale of a waterfront mansion in South Hillsborough County shows the high demand and rising prices that define Tampa Bay’s luxury housing market.

The property at 1010 N. Dickman Island Ave. sold Friday for $2.775 million to an undisclosed buyer, said Jennifer Zales, a sales associates with Coldwell Banker Residential Real Estate.

Zales represented the seller, 1010 N Dyckman Avenue LLC, in the transaction. The sales price represents a jump of more than 11 percent in less than a year. The home… …read more

Businesses and city leaders push for redevelopment in the Skyway Marina District

There’s a $1 million bounty for the developer who buys into the vision for the Skyway Marina District.

The district — a 1.5 mile corridor spanning both sides of 34th Street in south St. Petersburg — was once a thriving business area but in the last 20 years has become the city’s “forgotten place,” said Linda Bowler, executive director of the Skyway Marina Business Association. About one-third of the property in the district is vacant or underused, said Jack Dougherty, association president.… …read more