Apartments touted as sign of strengthening economy

By KENNETH KNIGHT | The Tampa Tribune Published: May 30, 2012 Updated: May 30, 2012 - 12:00 AM

The construction of an apartment complex under way on Regents Park Drive is the first sign of multifamily housing in this New Tampa subdivision in at least a decade.

Tampa-based Bayfair Development is building 168 apartments on eight acres adjacent to the Pebble Creek Golf Club, company president and founder Michael Morris said last week.

It is the second apartment complex being built in a two-mile radius just south of the Hillsborough-Pasco county line.

The Bayfair multifamily community is expected to begin signing up tenants by late October or early November, Morris said.

"We will have a building ready for occupancy by the end of the year," he said.

The complex will have one- and two-bedroom apartments with standard appliances and a washer and dryer in each unit.

The size of the one-bedroom apartments will range from 800 square feet to 850 square feet, and the two-bedroom dwellings will top out at about 1,100 square feet.

No lease prices have been set, Morris said, "But we will be competitive in the marketplace."

The complex will be marketed to young professionals, upwardly mobile residents and empty-nesters interested in living in an active community in a suburban setting.

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Apartments touted as sign of strengthening economy