Tampa’s secret is out, leading to more people with deep pockets moving here.
The market for high-end living is blossoming in Tampa. While city leaders and developers move to build affordable housing, they are also targeting an untapped luxury market.
The move to high-end luxury is working for developers. Tower I of the brand new Ritz-Carlton Residences Tampa, located along iconic Bayshore Boulevard, sold out in record time. Tower II, still under construction, is selling out fast.
Prices for Tower II range from around $1.5 million to over $6 million and are subject to change depending on market factors.
“We like to think of ourselves as a builder of communities, not just buildings,” Nick Perez, President of the Condominium Division at Related Group, said. “My father started the company in 1979 in affordable housing, and then that progressed into market rate in the 80s and 90s, and condominiums in 2000.”
The Related Group is the developer of the Ritz-Carlton Residences Tampa.
He told me that a lot has changed in Tampa over the past decade. That includes a high walkability score, live-work-play communities, affordability compared to other cities across the country, and proximity to water.