10.15.2007

Ybor hotel approved, but garage rejected

YBOR CITY - Developers got approval Tuesday to convert the historic Oliva Cigar Factory to a hotel. But a crucial element of their plan didn't make it past the Barrio Latino Commission, which maintains the architectural integrity of historic buildings.

Commissioners called the 45-foot-high hotel plans a "slam dunk" but objected to an adjacent 43-foot-tall robotic parking structure that would hold 24 cars.

The garage would tower over Ybor City Museum-owned casitas on the rest of the 2000 block of N 19th St.

Commissioners didn't think an accessory structure should be almost as tall as a main building and said the only accessory structures that have existed in historic Ybor are outhouses, water towers and small sheds.

A robotic garage that tall would disrupt the historic rhythm of the block, they said.
City rules dictate that the hotel must provide 62 parking spaces. Last month, the commission told developers they could have 25 of those spaces in nearby lots, running distance for valet drivers.

In existing plans, there is room for one row of spaces, with most of the cars stowed in the robotic garage.

Without the garage, on-site parking is a major problem, said developer Steve Yturriaga of Ybor Realty.

"It comes down to financing; it comes down to the feasibility of the project," Yturriaga said.
"If we were not to get the approval of the parking structure, I don't think this project could move forward."

As discussion progressed, it seemed that most commissioners favored the hotel but not the garage.

Developers made a last-minute appeal to remove the garage plans from the equation so the hotel would pass.

Commissioners unanimously approved the 59-room, three-story hotel.
The parking plans remain in limbo. A revamped proposal will return to the commission at a date not yet scheduled.

1.23.2007

Ybor City North Side Construction moving along....

I grabbed my camera this afternoon and went out to document several of the local residential new construction projects coming out of the ground right now. These are all located in north Ybor City and set to be complete within the next 4 months or so.




This home on 15th Avenue is a few months away from completion. Its located near the FDOT project. It's going to be amazing when its done. The floorplans are here http://liveinyborcity.com/ybor-city-new-construction.html


Titan1 is an incredible builder that has been strictly committed to south Tampa's most exclusive neightborhoods. They are going to be bringing some great new 3/2 homes to Ybor City...around 1500 sq ft and priced between $250,000 and $270,000. I really look forward to getting their floorplans and elevations...the homes are going to feature interior period trims, hardwood flooring, high cielings, with lots of historic charm without sacrificing modern conveniences.


Titan 1's first Public Notice Sign!!!


Titan 1's lot is surrounded by 2 other lots that Urban Craftsman is purchasing. These are also on 15th Avenue near the La Segunda Bakery...They will be begining the construction process shortly as well. Urban Craftsman plans 3/2.5 layouts with greater than 2,000 sq ft. Their architecture and interior finishes will have the look and feel of a historic home loaded with top of the line finishes like granite counters, stainless steel appliances, hardwood flooring, etc...


Here is a shot of our new sound barrier and the palm trees that just went up...more landscaping to come!


Another Urban Craftsman home going in on 15th Ave...2 story, greater than 2,000 sf...the layout is really nice with wide open spaces, ideal for entertaining on the ground floor and all of the bedrooms upstairs. Here are the floorplans again : http://liveinyborcity.com/ybor-city-new-construction.html


19th St New construction...This house is going to be amazing...I grabbed the construction plans out of the box and took a pic. I can't wait until this one is done. Its across the street from my house and Im looking forward to having some new neighbors.


Urban Craftsman has one home on Columbus Drive going up right now....just finished the slab...but these guys don't mess around...the framing will be up before you know it!


17th Avenue...Just east of 21st Street. This massive 3/2.5 bungalow is further along than most of the other Urban Craftsman homes. It should be move in ready around April...so, if you want to take a look e-mail me!




Rear View of a new townhome project on Columbus....All of these units are spoken for!!


Front View of Townhomes on Columbus....

WOW! This is only the begining, several of my clients have plans for even more new construction and we are currently under contract or pursuing another 11-15 vacant lots!!! So, 2007 is going to be an incredible year for new construction on Ybor City's North Side!

We really have the best of both worlds here. A residential setting right outside of Tampa's entertainment district...right off of I-4 and a mile from downtown! As long as the negative perceptions about Ybor Exist it will represent a value...these perceptions are quickly fading though. Every day I find that people are hearing good things about the neighborhood and that perceptions are begining to shift. This is nothing new for Tampa, 25 years ago Hyde Park was considered one of the roughest parts of town...go figure.

10.19.2006

Ybor City....The Construction Zone

Lately, living in Ybor City and dealing with the construction noise has been a real pain...but today it all got better. The FDOT send me renderings of what the I4 expansion project is going to look like when its complete. WOW!

Email me and let me know what you think! Also, if you want a house near where all of this is going to be let me know! I have 4 or 5 homes very close to these improvements and several are priced very very aggressively! The most distressed are here: http://www.liveinyborcity.com/ybor-city-foreclosure-homes

FDOT RENDERINGS






http://www.liveintheheights.com

http://www.liveinyborcity.com

http://yborcity.mfr.mlxchange.com

10.18.2006

Keeping Ybor City Bright at Night

Tampa Electric makes it easy to ensure that malfunctioning street lights are working properly. If you see a street light in ybor city that is not working write down the six or ten digit light id tag number on the light pole or write down the nearest street address or intersection to the light.

Go online to the "Lights Out" form on
http://www.tampaelectric.com or call 223-0800.

10.06.2006

Beating Citizens at the Overinsurance Game

In an attempt to cover previous years losses, Citizen's Insurance has begun to overcharge and overinsure every new home they underwrite. The major problem is for homeowners of historic properties, especially those with a crawlspace.

Citizens homeowners insurance's underwriting system makes absolutely no sense. In an attempt to cover losses they are overinsuring lots of real estate...unsuspecting homeowners are footing the bill. Their system is beaurocratic and most people don't realize that they can work with citizens to have their coverage and premiums reduced. I would go so far to say that they way citizens is valuing and insuring property is outright fraud, they are bilking floridians by intentionally overinsuring a massive amount of property.

You don't have to insure your land! The average premium for a $250,000 historic home is around $4500 a year, almost triple what it was 3 years ago. Many homeowners don't realize it but Citizen's is insuring these same homes for $300,000 or more in some cases. You don't need to insure your home for more than it costs to build new. Most homeowners should be insuring their home for no more than ($125 X your square footage)....a 1,000 sq ft home should be insured for approximately $125,000.

Citizen's"sophisticated" underwriting models penalize you for having an average sized and average priced house...they give big breaks for the very expensive homes and for waterfront property owners...go figure.

So, here is how you can beat the system, or atleast make it fair:

1. Pay for an appraisal.
2. Once you recieve your appraisal find the "replacement cost"
3. If the replacement cost is lower than your insured value then you are overinsuring your home and Citizens is taking in undeserved revenue.
4. Contact Citizens homeowners insurance and request a review by underwriting based on your new appraisal. They will ask you to fax a copy of your appraisal so have it ready.
5. Most people see annual savings of $1,000 to $1,500...GOOD LUCK, and call if you need my help!

Kevin Stuteville
Costantino & Company
813-842-4217

10.03.2006

New North Ybor Residential Projects Breaking Ground

What a week for North Ybor City...We have 11 residential units breaking ground this week. 6 of these units are the Townhomes on Columbus Drive located at the corner of 18th Street and Columbus and the remaining 5 are new construction homes being build by Urban Craftsman Homes. Urban Craftsman is arguably one of the best builders to ever build in the district. The quality of their construction and interior finishes is amazing.

I have the front elevations of the new homes in my office on 15th Avenue. If you would like to see them feel free to call 813-842-4217 or E-mail. The new Single Family homes are going to be 3/2 with very open layouts and 2 stories...square footage is going to be just over 2050 per house.

I also have a few new sites up, one designed to educate prospective home owners on the perceptions and realities of living in Ybor City, and the other discusses major improvements taking place in "The Heights of Tampa". Take a look at them.

Kevin Stuteville
Costantino & Company
http://www.liveintheheights.com
http://www.liveinyborcity.com

Email me now

9.13.2006

Real Estate Slowdown? Not so in Ybor City.

By Kevin Stuteville
Costantino & Company

I really don’t understand all of this talk of a bubble lately. Ybor has realized substantial sales growth in 2006 to date. MLS data for the historic district shows that residential sales are up over 34% in the historic district over the same period last year.

Part of the reason Ybor City is bucking statewide and national trends is that the district is undergoing substantial capital improvements that are just becoming apparent to the general public. Condominium projects are still breaking ground and a major interstate project is moving towards completion. The dynamic of the area is changing in a real way.

Another factor that is influencing growth is an underlying shift in people’s perceptions about Ybor City. I find myself defending my neighborhood less and less, we still have a ways to go but I think people are realizing that something is happening here.

Last night I decided to look into crime statistics provided by the Tampa Police Department. After extrapolating data from our 4 grids (107, 108, 127, and 128) I determined that those perceptions are changing for good reason, crime data for the first half of 2006 shows a 36% decrease in crime versus the same period of 2005.

I was absolutely shocked. I knew that the neighborhood felt different but I didn’t realize how drastic the numbers would actually be. I pulled this information from our Crime Grids 107, 108, 127, and 128, which covers the entire geographic region of Ybor and even some additional areas to the north.

Another reason why we aren’t slowing down is the availability of homes in “move-in” condition priced under $200,000. I even have a few for around $150,000, which is generally considered to be “affordable” when compared to many of Tampa’s other historic districts. Many un-renovated homes priced at or around $100,000 still make sense for investors. The numbers just work, homes here actually “cash-flow”, a concept that has eluded many homeowners and investors since the real estate boom took hold.

I live and work in Ybor City because there is something special about this little neighborhood; the great concentration of restaurants, entertainment and culture is what makes this area so special.