Featuring one of the most popular beaches of the world and being acknowledged as one of the premier sailing and boating environments of the nation, Clearwater has been emerging in the forefront of real estate industry. Located on the West Coast of Florida, the City of Clearwater overlooks the warm waters of the Gulf of Mexico. With over 361 days of sunshine during the year and enjoying a pleasant sub-tropical climate, Clearwater has attracted more than one million people to make this their preferred residence.
The highly strategic location and regional geography of Clearwater has enabled the area with several advantages. The tourist industry attracts over 4 million visitors in a year. The area is surround by a quality residential community, and diverse businesses. Some of the prominent industry and business types located at the area range into information technology, manufacturing, marine science, financial service industries, medical technology, hotels and accommodation, and an assortment of service industries apart from boutiques and shopping centers.
Like many other urban cities in the Tampa bay area, Clearwater real estate has approached the limits of its developmental capacity with only a few tracts of vacant land available for new construction. However, a portion of properties located in the downtown and beach areas are aging. As a result, there has been a renaissance of new construction replacing many of these older buildings and aging residential areas. Heralded as the heart of Pinellas County, Clearwater's real estate value is heavily backed up by its tourist, economic and community profile.
With a variety of options to suit tastes, preferences, and budgets, finding ones dream property in Clearwater is not that difficult. If you are a sports lover, you can look into a wide variety of homes in the large selection of Clearwater neighborhoods bordering the Golf Courses. If you love the scenic beaches, you have a wide range of properties in the Tampa Bay area estimating from $300,000's to more than $1 million. The real estate properties in Clearwater vary greatly.
One has almost all types of housing options available at the city. Single-family homes are the largest among the housing segments. Literally, there are some wonderful opportunities for living in Clearwater for under $150,000. The options can even vary from full time homes including seasonal buyers on the lookout for condos for hassle free vacations. Many typical inland homes around Clearwater cost around $150,000. This price range includes the large collection of small older homes at the area. Apart from this, a good 2 bedroom, 2 bath home located in a pleasant neighborhood would cost about $210,000, while an average 3 bedroom, 2 bath house would estimate around $290,000. The prices average more than the real estate values at nearby Pasco and Hillsborough Counties. Some of the quality houses with executive style and properties at Golf Courses cost around $450,000 and even above on an average. Over and above, the costliest properties are those located on the Gulf overlooking the beach estimating more than $500,000. There are a whole lot of Gulf Coast property lined up all along the beach area in terms of waterfront estates and luxury homes. In addition, one can also find a number of multimillion-dollar properties for every taste and preference.
Clearwater beach is considered one of the best beaches in the United States. These beaches are accessible to over 2.5 million people within an hour's drive. In the adjoining neighborhoods, there is a huge inventory of age-old residential buildings including motels and retail buildings, apart from residential properties. In these areas, a massive scale developmental project is already on its way evidently seen with several high-rise and mid-sized condominium projects. To everyone's surprise, many of them have already achieved amazing pre-construction sales rates. Since the year 2002, $1 billion worth of new constructions have been planned for over 1.4 mile stretch along Clearwater beach. At present, over 30 projects are in progress. The Beach Walk presents a highly promising scope for real estate boom in this area with an attractive pedestrian beach promenade featuring several sidewalk cafes, and boutiques sited all along.
According to some of the reputed national and regional developers, Downtown Clearwater is in a strategic location in terms of its proximity to governmental center and the beaches. The core of the Downtown area includes a wide range of prime development parcels located inside an investment environment, without outdated buildings and deteriorating infrastructure. There is a huge consumer demand in this area for town homes, condominiums, city homes, apartments and flats, which is driving the redevelopment and infill market. There is also a significant demand for quality entertainment and retail sales support venues. Some of the prominent projects at the Downtown area are noteworthy.
Harrison Village Island view tower is a project launched by Triangle Development in 2005. In addition to a range of retail and office sales, the project features over 300 residential units. The location of this project is highly strategic in between Osceola and Fort Harrison, just at a block away from Clearwater's beach sands and Coachman Park. This area has the credit of being one of the most recently refurbished and exciting cities in the southeast besides boasting of its presence in the heart of a business, cultural and entertainment district.
The City Commission and City Management have been working with several ideas to equip the Clearwater city with a modern City Hall and a vibrant downtown. In this connection, the city has been developing Parcel C to house a massive 3-acre City Hall. Parcel C is located adjacent to the two other parcels owned by the Calvary Baptist Church. This project is expected to add new value and grandeur to the entire community.
The Harborview Center, the exhibition and meeting hall facility owned by the city has launched a project at its property. This is called Parcel D, which also houses one of the most successful Departmental Stores, Stein Mart. This facility is located just adjacent to two other prominent properties of New Main Public Library and Osceola Avenue, projecting a fantastic view of the Bayfront and Coachman Park. The developments will eventually require Stein Mart to relocate to some other place in the Downtown, with the project giving rise to several boutiques, restaurants and entertainment venues apart from some of the best residential complexes.
Downtown Super Block consists of a number of potential redevelopment parcels purchased by an out of state investment group. Adjacent to this, there is also another layout owned by a private owner. These locations foresee a potential residential community with several added attractions and facilities including a Multi Movie Theater apart from several offices, retails and restaurants.
Clearwater area has experienced a phenomenal growth of the real estate industry with selling and appreciating shooting up at a rapid pace. With potential projects on development, the immediate future can welcome several new residents, developers and people interested in buying properties in this city.