Real Estate Blog
For a map of real estate projects/development as well as key intersection details/analysis
A well-known corner of South Tampa is getting a new lease on life. The property at 2616 S. MacDill Avenue—formerly home to the popular eateries Datz and Dough—is undergoing a complete transformation led by Three Oaks Hospitality. The new concept, 1983, is scheduled to open its doors in mid-August. Three Oaks, the hospitality and development group behind successful Tampa Bay ventures like Armature Works, The Pearl, Ciro’s, Steelbach, and Ro, acquired the site in 2023 and has since begun a creative reimagining of the space. The 150-seat restaurant will introduce a sports-forward, social dining experience with an upscale 1980s-inspired aesthetic. The adjacent Dough space will become a retro arcade, paying homage to iconic video games of the past—think Pac-Man and Galaga—while the restaurant itself will offer a menu that ranges from sushi and salads to French dips and classic wings. The design will incorporate vintage sports memorabilia and a preppy flair reminiscent of 1980s fashion and culture. The project’s name, 1983, reflects the birth year of twin brothers Charles and Kyle Bruck, co-founders of Three Oaks. One thing that isn’t changing? The landmark marquee sign out front, which locals may remember for its witty one-liners. It’s being preserved and will continue to feature playful messages as a nod to the building’s legacy. This revitalization adds to the continued momentum of redevelopment along the South MacDill corridor, a high-visibility commercial stretch in one of Tampa’s most established neighborhoods.
Tampa residents have been waiting for high-speed rail service—and it’s starting to look like that dream could eventually become a reality. Brightline, the private passenger rail company already operating in South Florida, is officially making moves toward a Tampa expansion. The company recently requested $400 million in bonds to fund new stations and tracks across Florida, with Tampa named as one of the next planned stops. That funding would help push forward rail infrastructure connecting Tampa to Orlando and beyond. So… when can we actually expect to ride? The Not-So-Soon Timeline According to Hillsborough County Transportation Planning Organization executive director Johnny Wong, we might still be waiting another decade. Yep—ten years. Wong’s projection is based on information from a former Brightline executive, now with the Orlando Economic Partnership, who noted that Brightline will need to lay new rail along I-4 before the Tampa link becomes a reality. And since I-4 is currently undergoing a massive expansion that could take up to 20 years to complete, rail construction might not begin for a while. That said, there’s some hope. Governor DeSantis and the Florida Legislature have shown interest in speeding up the I-4 project, which would naturally help accelerate Brightline’s expansion timeline as well. Why Now? Ever since Brightline opened its Orlando station in 2023 (connecting to Miami), the buzz around a Tampa extension has only grown. With Central Florida’s population booming and I-4 getting more congested by the day, many are pushing for a faster, less stressful travel alternative. Last year, Mayor Jane Castor even floated 2029 as a possible opening year for the Tampa station. And with the recent bond request and local support—including a unanimous vote from Tampa City Council to allow Brightline to proceed with financing—the wheels are certainly turning. But There’s a Catch While Brightline has ambitious plans, the company is facing some financial headwinds. It fell about 30% short of its projected ridership last year, carrying roughly 2.8 million passengers. That drop came after eliminating popular $10 commuter passes, though those have since been brought back—and early signs show ridership recovering in South Florida. Despite operating at a $63 million loss last year and carrying $5.5 billion in debt, Brightline continues to grow. And Tampa appears to be next in line. Where Will the Station Go? A final location hasn’t been publicly announced, but city officials have hinted at a site in Tampa’s “greater downtown area,” possibly stretching from Ybor City to the Curtis Hixon Waterfront Park area. In May, Hillsborough County asked residents how they would get to the future station, and the majority said they’d drive or use ride-share services. That means the city will likely need to build a parking structure and invest in safer pedestrian and bike-friendly infrastructure. Respondents also voiced a desire for more public transit near the station, which could reignite conversations about expanding the TECO Line Streetcar into Tampa Heights. What If Brightline Doesn’t Make It? Even with the financial risks, there’s a silver lining. If Brightline lays the rail but later backs out, the infrastructure could still be used by another operator—think Amtrak or even a local transit authority. As Wong put it: “If we have assets for trains to go through Tampa to Orlando, I don’t see why there wouldn’t be competitors in that space.” Source: Tampa Bay Times Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com
Florida’s property insurance market is finally showing signs of recovery in 2025, following several years of volatility. A combination of legislative reforms and a resilient response to recent storms has begun to steady both residential and commercial insurance rates. For those in the commercial real estate space, this shift offers a much-needed sense of predictability. With fewer surprise exclusions and more stable premium trends, stakeholders can breathe a little easier—even if hurricane season keeps everyone on alert. In this post, we break down the effects of the 2024 hurricane season, 2025 premium trends, key legislative changes, reinsurance market updates, and what these developments mean for property owners, brokers, and investors across the state. After the 2024 Hurricane Season: Resilience in Action
In a surprising turn, Florida officials voted Tuesday to approve the purchase of 340 acres of forest land in Hernando County from Cabot Citrus, a luxury golf resort once at the center of a heated public lands controversy. This time, there’s no land swap involved—just a straightforward acquisition aimed at expanding conservation efforts near the Withlacoochee State Forest. The vote came from the Florida Cabinet, with Gov. Ron DeSantis, Attorney General James Uthmeier, and Agriculture Commissioner Wilton Simpson all in favor. If Cabot Citrus sounds familiar, it's because the resort drew fire last year after receiving initial approval to trade more than 300 acres of state-preserved forest for land it hoped to develop into more luxury golf amenities. The backlash was swift and widespread. After the Tampa Bay Times reported on the proposed trade, public outcry escalated, and Cabot quietly pulled the deal. Though DeSantis didn’t comment on the Cabot purchase specifically during Tuesday’s meeting, his office later celebrated the conservation deal in a press release, grouping it in with other land buys. Simpson, who previously supported the land swap proposal, offered a lengthy post-vote statement that subtly acknowledged the controversy and praised the new direction: “We paused, looked at alternatives, and ultimately arrived at a better path — one that serves the long-term interests of Florida and its people,” he said. He also commended Cabot for “shifting focus and prioritizing conservation,” calling the outcome a model for how land preservation decisions should unfold. Notably, just weeks ago, Gov. DeSantis was photographed golfing in a Cabot Citrus hat alongside Florida Fish and Wildlife chair Rodney Barreto, further fueling speculation about the resort’s influence. The land now on the table for acquisition sits directly southeast of Cabot’s current footprint—home to multiple golf courses and luxury cottages starting at $1.7 million. It borders the same area the company previously sought to acquire via land swap. The state still needs to appraise the land to determine its value. According to the Florida Department of Environmental Protection, the purchase price won’t exceed the appraised value. If the deal moves forward, the Florida Forest Service has agreed to manage the land and integrate it into the broader state forest system. While many conservationists welcomed the move, they also expressed caution. Eugene Kelly, president of the Florida Native Plant Society and a Hernando County resident, said the shift is promising but remains wary: “It would be great to see the land added to the state forest,” he said. “But I see all these mixed signals coming from the state.” Kelly has also called for full funding of the Florida Forever land acquisition program, urging lawmakers to allocate at least $100 million after earlier budget proposals offered none. After a string of recent land-use controversies—including efforts to develop state parks and transfer pristine conservation land to mysterious LLCs—this decision marks a rare about-face. Whether it signals a long-term commitment to conservation or a one-time course correction remains to be seen. Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com
Plans for a 104-room boutique hotel on the east side of Gulf Boulevard were unanimously rejected by St. Pete Beach city commissioners during a May 13 meeting, effectively halting the proposed Windward Pass Resort. The decision denied the developers a conditional use permit, a hardship variance, and access to room credits from the city’s lodging pool. The project, which would have included six stories, waterfront boat access to McPherson Bayou, a three-story parking garage, two pools, a miniature golf course, bars on the ground and rooftop levels, a 12-slip dock, and more, was met with strong opposition. Developers sought 104 temporary lodging unit credits from the district’s 325-room allocation. However, with Hotel Zamora already approved for 64 units, only 261 credits remain for future projects—making this request a significant ask. City Planner Brandon Berry reminded attendees that unlike the western portion of Gulf Boulevard—where lodging is permitted by right—the Bayou Residential District does not allow temporary lodging as a matter of course. “This is not a lodging-permitted area,” he explained. The 2.67-acre site is one of the few remaining large, undeveloped waterfront parcels on the east side of Gulf Boulevard. Despite its size, project architect Jack Boziak argued that the site’s irregular shape—ranging from 293 feet wide on one end to just 125 feet on the other—left less than 40% of the land buildable after accounting for setbacks and drainage requirements. He called this a clear hardship. But commissioners weren’t convinced. Commissioner Betty Rzewnicki emphasized that the lot consists of four separate parcels and is located in a clearly residential area: “You’re trying to introduce a commercial resort into a residential neighborhood. That’s not a hardship—that’s a zoning mismatch.” Commissioner Joe Molholland echoed that sentiment, citing concerns about putting a large hotel with a rooftop bar in a low-density district. “This isn’t the western side of the beach where that kind of activity is expected,” he said. Commissioner Lisa Robinson also pointed to concerns about increased noise, traffic, and overall intensity: “A 104-unit condo hotel with multiple amenities is a lot for this area. The noise and density are already issues. Adding more would overwhelm the neighborhood.” Environmental concerns played a major role as well. Mayor Adrian Petrila specifically called out the potential damage to the shallow bayou and its manatee habitat: “This isn’t just a question of land use—there’s a real environmental impact to consider,” he said. “Even the so-called 'quiet pool' won’t be quiet in practice. I’ve been to enough resorts to know better.” In the end, the commission found that the proposal failed to adequately address community concerns or offer solutions to mitigate the negative impacts. Without clear benefits to the neighborhood and no meaningful compromises presented, all requests—including the rooftop bar and the 104-unit credit allocation—were firmly denied. Source: Tampa Bay Times Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com
In commercial real estate, understanding a property's value at a specific point in the past can be just as important as knowing what it’s worth today. Whether you’re dealing with an insurance claim after a storm, an estate settlement, or a legal dispute, retrospective appraisals can play a critical role—especially here in West Central Florida where market conditions shift rapidly and weather events are frequent. What Is a Retrospective Appraisal? A retrospective appraisal is exactly what it sounds like: an appraisal with an effective date in the past. It allows us to determine what a property was worth at a specific historical moment, based on the conditions and data available at that time. Unlike current or prospective appraisals, this type requires the appraiser to essentially “recreate” the market as it existed on that date—everything from sales comps to economic factors and the property’s condition. These types of reports are essential in several scenarios: Storm-related insurance claims : Establishing pre-loss value after hurricane damage Estate settlements : Determining fair market value as of the date of death Litigation support : Supporting disputes like business dissolutions or eminent domain Property tax appeals : Contesting over assessed values from prior years Financial reporting : Accurate historical valuations for audits or compliance Why They Matter in Florida Florida’s West Central region has seen rapid growth, market fluctuations, and its fair share of natural disasters. A solid retrospective valuation is often the foundation for a fair resolution—whether it's getting a tax adjustment or ensuring heirs aren’t hit with unnecessary capital gains. For example, Pinellas County encourages owners to seek certified appraisals to verify a property’s value before a storm—especially if they’re trying to comply with FEMA’s 50% Rule for rebuilding. Similarly, when a commercial property is inherited, a date-of-death appraisal ensures tax basis is properly adjusted for the new owner, which can have long-term financial benefits. Our Approach at Cliggitt Valuation At Cliggitt Valuation, retrospective appraisals are one of our specialties. We’ve completed these assignments for everything from small retail buildings to complex industrial facilities across Tampa, St. Pete, and Lakeland. Every report we prepare is: Detailed and data-driven , often requiring historical sales, old records, and archived financials Tailored to the local market , reflecting our deep knowledge of past market cycles in West Central Florida Credible and defensible , written with clarity and strong support so it holds up in court, with insurers, or in tax discussions Responsive and timely , because we know how important deadlines are in legal or estate matters We’ve helped clients with hurricane claims, tax disputes, estate transfers, and more. Each time, our goal is the same: to deliver a reliable and accurate value opinion that helps our clients move forward confidently. Final Thoughts Retrospective appraisals may look backward, but they’re one of the most forward-focused tools we have in real estate. When done right, they provide the foundation for sound decisions—financially, legally, and strategically. If you need a retrospective appraisal or just want to talk through a situation where one might apply, don’t hesitate to reach out. We’re here to help you look back, so you can move forward with clarity. Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com
Disclaimer:
Please note that none of the information or opinions expressed herein are meant to convey nor should they be construed as real estate appraisal practice, brokerage practice, legal, tax, or financial advice.
