After being put on hold for several years due to the economic downturn, Post Properties is now proceeding on a new mixed-used residential community on South Howard Avenue in South Tampa.
Located on the corner of South Howard and Swann avenues, the approximately $40 million Post SoHo Square development will be made of up 231 one- and two-bedroom units, 10,000 square feet of retail and a parking garage for residents and customers.
Post purchased the land in 2005 for $12 million.
“We love South Tampa: It's a vibrant, active community and we're really excited about that part of town,” says Bart French, Post's VP of investments. “SoHo is a great location for people who want to be able to walk out of their front door and go to shops and restaurants. We're trying to create something that fits into that walkable environment.”
A courtyard featuring a pool, club room overlooking the courtyard and fitness center are among the amenities to be offered at Post SoHo Square. Units will average approximately 880 square feet in size, including high quality finishes such as granite counter tops, stainless steel appliances and plank flooring.
“A lot of good things are happening in the area and we'll be offering the community one more option for high-end, upscale living,” French says.
Pre-leasing for the 14-month project will begin out of
Post's Hyde Park location around November 2013 with first units slated for completion by January 2014. French expects contractor
Clark Florida Builders to complete Post SoHo Square by the second quarter of next year.
Additionally, French says rental rates have not been determined for the development as of yet, but Post has been watching rents in the area and will keep consistent with South Tampa prices. Businesses moving into the retail portion of the development will be announced in the coming months.
Writer:
Alexis Quinn Chamberlain
Source: Bart French,
Post Properties
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