WESTCHASE — Citing a rise in the renter's market, national apartment builder Camden plans to open two new complexes next year in Westchase and the surrounding area.
The first apartments of the 348-unit Camden Westchase, going up on Countryway Boulevard just south of Citrus Park Drive, should be available for renters next spring, said Chad Weaver, vice president of real estate investments for Camden. He expects the complex to be completed by early 2013.
Southeast of there, at Waters Avenue and Montague Street, the 192-unit Camden Montague apartments are planned to open about the same time, with the first units available in spring and the project finishing up in late 2012.
"Both are going to be Class A market-rate apartment projects,'' said Weaver, and not low-income, rent-subsidized dwellings, as had been rumored in the Westchase community. They'll have such amenities as washers and dryers in every unit, a clubhouse, a resort-style pool and fitness rooms, he said.
Weaver anticipates that rent at Camden Westchase will range from $850 to $1,250 per month, and at Camden Montague from $800 to $1,200.
Patrick Knight, a resident who represents the Shires subdivision in the Westchase Community Association, said three or four neighbors had heard that the project on Countryway would be rent-subsidized apartments.
They worried that it might affect their property values. Knight reassured them in an e-mail after calling Camden.
Improvement in apartment occupancy and rents in the past year, and optimism that the trend will continue, moved Camden to start building on the two tracts it has owned for at least three years, Weaver said.
The rise in home foreclosures has contributed to the new market, but the company also believes that people of late feel more confident that they won't be laid off from their jobs, he said. So, workers who have lived with roommates or with parents are ready to move into their own apartments.
Camden has built more than a dozen apartment complexes in the Tampa Bay area.
Philip Morgan can be reached at (813) 226-3435 or at email@example.com.