to boom according to a recent Tampa Bay Business Journal article. Mayor Buckhorn’s administration is developing a CRA (Community Redevelopment Area) for West Tampa. CRA’s bring political might and tax dollars to bear on infrastructure and other challenges.
CRA’s don’t solve all problems and they aren’t perfect but a real estate investor could do a lot worse than trying to get ahead of CRA dollars. Actually any investor should take note of this development and consider it for opening a restaurant, convenience store, retail store, or any business that would benefit from increased government spending.
I have been an active buyer of properties in West Tampa since 2009 and I believe this area has a better chance than most of outperforming inflation (which is one of the main goals of investing). Its just to convenient to downtown and the Westshore district (in addition to MacDill AFB, and many other prominent employers) to not continue its amazing growth of the past few years. Nothing is guaranteed but West Tampa sure seems like a good bet to me (or in MBA parlance a great risk adjusted return)!
image courtesy of Chris Wilkerson