In an article by Nicole Martinez in UrbanLand
Florida garners plenty of international attention for its southernmost cities, but institutional investors and real estate developers are increasingly looking farther north for new investment opportunities. Tampa and its surrounding cities—communities like Sarasota, Bradenton, and Clearwater—are quietly attracting millennials and young families. With lower land prices and a relatively underdeveloped real estate market, the Tampa Bay area is betting on a boom as many young professionals get priced out of markets like Miami, Fort Lauderdale, and West Palm Beach. Three of the Tampa Bay area’s largest landowners and property developers gathered at the recent ULI Florida Summit to discuss Tampa Bay’s changing landscape and the unique approach required for developing large master-planned communities in Florida. J.D. Porter, the chief executive officer (CEO) of family-owned Wiregrass Ranch, notes that real estate development in Tampa is evolving at an unprecedentedly fast rate. “If you ha...