Property values in university area on the rise
Tampa has seen a boom in real estate growth in recent years, due in part to the growth of both USF and the University of Tampa (UT).
Online real estate database Zillow predicts home values in Tampa will increase overall in 2016. The highest growth is in the Terrace Park neighborhood, with an estimated 6.7 percent increase.
Terrace Park is located directly across Fowler Ave. and stretches down to Busch Blvd. between Bruce B. Downs Blvd. and Temple Terrace.
The neighborhood may seem like an unlikely location for increased home values, but the reasoning is.
Andrew Duncan of Tampa’s Duncan Duo & Associates attributes the growth of the Terrace Park area to the increased availability of restaurants and shopping centers.
“People wanted to live in areas like South Tampa because of the proximity to restaurants and businesses. Once they realized they could have the same experiences 15 minutes up I-275, they made the economic decision to move to Temple Terrace,” Duncan said.
Dr. Joseph DeSalvo, an urban economics professor at USF, offered another perspective.
“Economics always falls back on supply and demand … If demand is increasing, you’d expect that rents would be going up, as well as the market values of the housing,” DeSalvo said.
Both seemed optimistic for the future of real estate in the Bay Area.
“There’s a lot of positive buzz around Tampa right now,” Duncan said.
More Stories
USF admin’s response to suicides unclear. What we know so far.
USF’s administration will not say who or how it will prevent future suicides on campus a month after a student leapt from an upper floor balcony of the Interdisciplinary Science Building – the third suicide since fall 2022. The Oracle has asked repeatedly about which USF administrators are overseeing suicide prevention initiatives and how the […]
USF SG leaders look back on campaign accomplishments while on non-speaking terms
Student body president Cesar Esmeraldi and vice president Elizabeth Volmy reached nearly every campaign goal during their term. The one thing that didn’t persevere was their unity. The pair ended their tenure reflecting on it from separate rooms. “We’ve had a great year,” Esmeraldi said. “I’m very happy with everything we’ve built. But because of […]
USF’s ‘Take Back the Night’ allows sexual survivors to share pain, resilience: ‘Recovery isn’t easy.’
A sexual assault survivor, who was the first speaker at Wednesday evening’s “Take Back the Night,” said the hardest day of their life was not when they were assaulted – it was the day after. “When I had to call my mom and tell her how her [child lost their] virginity and tell my therapist […]
USF campus ministers offer perspective on stadium development: ‘Exciting benefit of exposure.’
Take a tranquil stroll down Sycamore Drive. It’s a quieter part of campus, hidden away from the usual hustle and bustle of USF. It’s home to an area colloquially known as “Religious Row,” a collection of on-campus religious organizations. In just a few years – with the construction of an on-campus football stadium – the […]
McKinley Drive closed down for death investigation, Tampa police say
The intersection between Fowler Avenue and McKinley Drive was closed due to a death investigation late Wednesday afternoon, according to the Tampa Police Department (TPD). A man shot himself after making a bomb threat in the parking lot of the Florida Department of Transportation (FDOT), located at 11201 McKinley Drive, according to TPD. Police said […]
USF 2024-25 A&S budget to increase student organization funding in Tampa and St. Pete
The Student Government (SG) Senate approved the 2024-25 Student Activities & Services (A&S) budget for all three campuses this Tuesday, seeing an overall increase in allocated money to student organizations. The vote was 26-0, approving the budget. Related: 2023-24 A&S budget down $5 million from last fiscal year Students pay fees in their tuition – […]