A Tampa company that got its start in the arcane business of bidding on tax deeds is embarking on its first condo project — two buildings in downtown St. Petersburg with a total of up to 78 units.
The condos will replace several old houses at Third Avenue S and Fifth Street in an area that has seen an explosion of apartment construction in the past few years. Brian Davison, CEO of EquiAlt, said all of the condos will have three bedrooms because there are relatively few new rentals with that many.”We felt like that if it takes two years to build and the economy is not as strong as it is today — which it may very well not be — and we can’t sell them off, we can rent them as upscale three-bedroom (apartments),” he said Friday.
Source: Tampa company EquiAlt to build its first condos in downtown St. Petersburg