Slow Housing Market Creates New Demand For Apartments In Tampa

With the condo market slumping, some developers are seeing gold in building new apartments. Don't look for the new stock of apartments to bring down local apartment rents, though. An average 1,000-square-foot unit is expected to set you back $1,500 a month. At least three developers are planning mid-rise apartment buildings in the West Shore and West Tampa areas. Unlike typical "garden-style" apartments, which have clusters of two- and three-story buildings, the new projects will be four to six stories each and house between 200 and 400 apartment units.

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