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New Owners of The Place at Channelside decide to rent building

It’s official!  The new owners of The Place at Channelside have decided to turn the condo development into rentals.

What does this mean for people who purchased the condos and are either living there or trying to sell them?  It doesn’t look good, that’s for sure.  You can’t help but feel sorry for those who had no idea of what was in store for them 2 years ago when they eagerly signed their contracts to purchase these luxury condos in the hip urban neighborhood of  Channel Side, just outside of Downtown Tampa.

Unlike The Element Condo Development, who made the decision a few weeks ago to offer their units as rentals, the owner’s of The Place have no option to get their money back.  They have already closed and are owners.

 

 

View Photo album of Victory Lofts at Channelside

So now the options are narrowing down for those who want to take advantage of the buyer’s market in the Downtown and Channelside areas.  The Towers of Channelside did emerge from bankruptcy and are selling their condos.

Lofts are offered as resales at very aggressive pricing, as well in buildings like Victory Lofts, The Meridian and Channelside lofts.  These developments are still desirable for those looking to buy now, as pricing is well below what it had been 2 years ago.

To receive updated pricing for Downtown or Channelside Lofts and Condos for sale you may send us an email with your request:  or call 813-784-7744

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Written by Rae Catanese, Realtor

Licensed Realtor since 2002, Tampa Bay’s own Rae Catanese regularly gives expert advice and insider tips about the Tampa Bay real estate market via her blog, The Tampa Real Estate Insider. If you are thinking of buying or selling a home in the Tampa, St. Petersburg or Clearwater areas-then this blog is for you. I typically post articles once a week. To make sure you don’t miss my newest posts, you can subscribe here! Have a real estate question? Email me here!

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