Make us your home page

Post Properties revives South Tampa project as apartments and retail

TAMPA — Atlanta developers plan to rekindle an apartment project long stalled near Hyde Park, intending to spend nearly $40 million on hundreds of apartments in a complex called Post SoHo Square.

Post Properties told investors this week it planned to build 231 apartments and more than 10,000 square feet of retail space at the complex, near the epicenter of S Howard Avenue's busy nightlife.

No rental price was given for the apartments, which would average about 880 square feet in size. Developers also gave no starting date for construction, though they said the first apartments would open in early 2014.

Post bought the land, which had included the popular Whiskey Park SoHo nightclub, near the southeast corner of Howard and Swann avenues in 2005 for about $12 million. Post was one of many developers at the time intending to build condominiums and storefronts.

But two years later, as the condo market collapsed, the developers shuffled their plans into a four-story, 192-unit luxury apartment complex, with nearly 20,000 square feet of retail, restaurant and office space.

The latest plan was announced this week in advance of a conference call with Post investors.

Filling in the development gap that failed condo projects left behind, Tampa Bay apartment construction appears to be quickly building strength.

Last week, developers with Pollack Shores Real Estate Group broke ground on a $36 million apartment complex called NoHo Flats, planned for an old industrial expanse of North Hyde Park.

Developers of both projects are looking to lure in Tampa's lucrative rental market, which grew during the recession, fueled by high rates of foreclosures.

Apartment vacancy rates across Tampa Bay have slid to about 6 percent, according to midyear data from commercial real estate broker Cushman & Wakefield. Average rents have risen to $859 a month.

Messages left Wednesday with Post Properties were not returned.

The firm has more than 2,000 apartments in seven complexes, and more than 45,000 square feet of retail space, leased or under development across the country, a Post statement said.

Contact Drew Harwell at (727) 893-8252 or

Post Properties revives South Tampa project as apartments and retail 10/31/12 [Last modified: Wednesday, October 31, 2012 11:36pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Rick Scott appoints 'my friend,' Jimmy Patronis, as Florida CFO

    State Roundup

    PANAMA CITY — Gov. Rick Scott on Monday picked close friend and supporter Jimmy Patronis to be Florida's next chief financial officer, a lucrative prize for loyalty that casts new light on Patronis' pro-business votes as a legislator and his support for higher electricity costs as a regulator.

    Rick Scott appoints Jimmy Patronis (background) as CFO. [STEVE BOUSQUET | Tampa Bay Times]
  2. Local gas prices plummet as Fourth of July holiday travel approaches


    TAMPA — Local gas prices are enjoying an unseasonal dip around the $2 mark just in time for the hectic Fourth of July holiday travel weekend.

    The price of regular unleaded gasoline has dropped to $1.99 at a Rally station on Pasadena Ave. South and Gulfport Boulevard South, South Pasadena.
[SCOTT KEELER   |   Times]

  3. Air bag recalls, lawsuits lead Takata to file for bankruptcy


    Shattered by recall costs and lawsuits, Japanese air bag maker Takata Corp. filed Monday for bankruptcy protection in Tokyo and the U.S., saying it was the only way it could keep on supplying replacements for faulty air bag inflators linked to the deaths of at least 16 people.

    Japanese air bag maker Takata Corp. CEO Shigehisa Takada bows during a press conference in Tokyo on Monday. Takata has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of defective air bag inflators.
[(AP Photo/Shizuo Kambayashi]
  4. Airbag maker Takata bankruptcy filing expected in Japan, U.S.


    DETROIT — Japanese airbag maker Takata Corp. has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of faulty air bag inflators.

  5. Federal agencies demand records from SeaWorld theme park


    ORLANDO — Two federal agencies are reportedly demanding financial records from SeaWorld.

    Killer whales Ikaika and Corky participate in behaviors commonly done in the wild during SeaWorld's Killer Whale educational presentation in this photo from Jan. 9. SeaWorld has been subpoenaed by two federal agencies for comments that executives and the company made in August 2014 about the impact from the "Blackfish" documentary. 
[Nelvin C. Cepeda/San Diego Union-Tribune/TNS]