Residential Demand Drives Growth in Downtown St. Petersburg

Downtown St. Petersburg is booming in the residential department, with 2,031 new homes to be added within a mile of the downtown waterfront. With vast construction in the area, developers worry about an over exaggerated demand, since too many homes could be left empty. However, developers in St. Petersburg believe that there is every reason to add a variety of options for every price range in anticipation for a more bustling city. Already, there has been a relatively fast turnaround for vacant homes downtown.

Dave Goodwin, St. Petersburg’s economic development director, predicts the high demand is a result of a rising trend to live in walkable cities. "The market for downtown urban living, being able to walk instead of drive, is strong everywhere. It's the strongest I've ever seen. More and more folks — young folks, empty nesters, retirees — want to be living in a walk-able, urban environment." The downtown waterfront coupled with multiple stores, restaurants, and social options makes St. Petersburg a great option for residents who desire a walkable city.

Another aspect that could possibly lure more home, apartment, and condo owners into the downtown area could be the integration of large companies. Currently, there are small companies that were able to grow in the city, such as Jabil and Raymond James. As living spaces in the area continue to be built, the city hopes to fill vacancy rates in the commercial real estate sector with large companies in order increase residential capacity downtown.

Click here for the full article from the Tampa Bay Times, or click here for more Front Street news.

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Virginia MacKoul

Virginia is a graduate from the University of Florida's College of Design Construction and Planning with a degree in Sustainability and the Built Environment, and a minor in Urban Regional Planning. Virginia joined the Front Street team in 2011, as an intern. Upon graduation, Virginia joined the Front Street team full-time as the Director of Client Services. Ms. MacKoul’s addition furthers Front Street’s continued growth and expansion within Gainesville and other North Central Florida markets. She was promoted to Director of Marketing in 2014 and now manages the firm’s team of interns and oversees all marketing and branding activity. Virginia was born in Boston and moved to Lee County, Florida in 1997. Virginia graduated her high school's International Baccalaureate program and started at the University of Florida with a focus on Architecture. Virginia shares Front Street's passion of giving back to the community and those in need. Virginia's hobbies include photography, cooking, football, movies, music, and spending time with her dog, Brinkley.

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