Commercial Real Estate, Capital, Insurance, Leasing & Management

4 big Tampa Bay projects you might have seen but (probably) know nothing about

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Multifamily expert Darron Kattan explains why Pinellas County's Gateway is "highly desirable'' to developers.

Excerpted from Tampa Bay Times story.

3. More apartments 

Like Carillon, the Gateway Centre has a prime location near three main roads — U.S. 19, Gandy Boulevard and I-275. The original tenants nearly 30 years ago included manufacturing giants Jabil and Lockheed Martin but today the Centre is getting more and more tenants of the residential kind.

The Epic with 224 units opened a few years ago and Allure at Gateway with 274 units is well under construction. Now site preparation is underway for yet another big apartment community. A project of Atlanta-based Davis Development, the Satori (as it is tentatively called) will have 270 units in several buildings and will be within easy walking distance of the Wawa convenience store on Gandy.

Darron Kattan, an expert on multi-family housing at Tampa’s Franklin Street brokerage, said the Gateway area is “highly desirable” to developers for two main reasons: its proximity to job centers and the high demand for housing in fast-growing parts of Tampa Bay.

“I do believe there’s also a niche of need below the true A-plus and high-rise core development,” he wrote in an email. “The price point will be lower than what you will see in downtown Tampa and downtown St. Pete and therefore will serve renters that need to save a little more money yet still avoid the commute.”

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