The construction market in Tampa Bay is heating up. At Voeller Construction we have seen an increase in a diverse area of projects. From custom waterfront homes to renovation of retail centers and military projects, we’ve seen it all! Companies are expanding and growing in the Tampa Bay area. Here is a sampling of some of the trends we are seeing in the area.
1. Senior Living/Memory Care Facilities – As Florida’s population continues to age, so does the need for more Senior Living and Memory Care Facilities. We’ve seen an increase in these types of projects throughout Florida. Below is a project we have recently completed.
By the year 2030, 70 million Americans will be 65 years old or older, making up 20% of the population, up from 35 million in 2000. We are witnessing a rise in the demand for boutique-size (50 – 75 units) Memory Care facilities.
2. The Hospitality/Retail Industry – From hotels to fast food restaurants, the hospitality/retail industry is rebounding in Tampa Bay and Central Florida. Retailers are flocking to the Bay area, and those who are already here are renovating and expanding their current operations. We are doing a lot of renovations of older retail centers looking to modernize their look. And our In-House Restaurant Division is currently working on projects for Culver’s, Wendy’s, and Dunkin’ Donuts.
3. Multi-family/Townhomes – Apartments, townhomes and condos are making a come-back in Tampa Bay. This is especially true in in-fill areas and unique pockets of land.
Demand is outweighing supply. Expect to see more and more of these types of projects in 2014. We are currently working on multiple design/build apartment and condo projects Pinellas County.
4. Luxury Custom Homes – People are feeling more comfortable with the economy and are moving forward on building their dream homes. A trend we are seeing is a rise in waterfront homes in the $600,000 – $4 million range. In Pinellas County, this means tearing down existing waterfront homes and building new. After several years of a ‘wait and see’ mentality, homeowners are jumping back with a vengeance! We are currently engaged with several clients in Clearwater and Belleair on their design/build custom home projects.
If you have a commercial or residential construction design/build that we can assist you with contact us at (727) 785-9198. To learn more, visit VoellerConstruction.com