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The Bradenton Beat: New Construction, Market Update & More

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Downtown Bradenton

Downtown Bradenton

When was the last time you visited downtown Bradenton? This community offers a vibrant mix of arts, culture, sports, and recreation – all located in a picturesque, waterfront setting.  Charming streets of independent restaurants and mom-and-pop shops mingle with historic buildings, brick sidewalks and a riverfront park that opens the waterfront up to all the city’s residents and visitors. And to the west, Anna Maria Island is just a short drive away, named among the world’s “top island beaches for perfect sand”.

With a number of new and exciting changes to downtown Bradenton on the horizon, The Saunders in 60 sat down with Linda Formella, Manager of Michael Saunders & Company’s Bradenton, Anna Maria Island, and IMG Academy offices. “We are off to a great start in 2017,” said Formella.”We are seeing an uptick in listings – which means our buyers will have more choices. Interest rates are still historically low although we did see a little bump up earlier this year. We believe the selling season this year will be fantastic.”

Watch the video and read on to discover details about four exciting projects set to pop up soon on the Bradenton scene.

Projects Coming Soon to Downtown Bradenton

Villages at Riverwalk

Located just east of Downtown Bradenton in the 1000 block of Manatee Avenue East, the Villages at Riverwalk is a 521-unit rental complex envisioned as a “worker-friendly” mixed-use community. The development team consists of local builder, NDC Construction and the Atlanta-based Hatfield Development Company. Once the site of the Glazier-Gates Park, the park is now being moved to the northwest and will serve as an extension of the Riverwalk Park.

Expansion of the South Florida Museum

This $12 million expansion is expected to be transformative for the museum and community. The addition will add 30,000 square feet to the already 60,000 square foot campus. Elements of the project will include four classrooms, a children’s outdoor area for interactive activities, aquarium tanks, store, cafe, and a 5,000 square foot hall for traveling exhibits. Beyond the new addition, extensive interior renovations to the existing museum will greatly improve the facility.

Rendering of the South Florida Museum expansion. Courtesy South Florida Museum.

Rendering of the South Florida Museum expansion. Courtesy South Florida Museum.

Old Main Street Improvements

The City of Bradenton is moving forward with a project to improve the downtown streetscape along the Old Main Street corridor which also includes 11th and 13th Streets West. With an aim to improve walkability, landscaping, lighting, and overall ambiance,  the Bradenton Community Redevelopment Agency has released a request for qualifications and is expecting to select a design team and move ahead with enhancements this year.

Palma Sola Bay Club

Located on the east side of Palma Sola Bay in West Bradenton, this private, gated community consists of 23 4-story mid-rise buildings on 33 acres. Also included:

  • Two and three bedroom open floor plans with private storage and covered parking
  • Resident’s club with fitness center, game room and social areas
  • Resort-style amenities include swimming pool, fire pit, grilling area, putting green and bocce ball court, kayak launch & observation deck on Palma Sola Bay
Palma Sola Bay Club in Manatee County

Palma Sola Bay Club in Manatee County

Manatee County Market Update

According to Trendgraphix, in the month of December, there were 3,067 homes for sale which is up 4.7% when compared to December 2015.

With a 4.5 month supply, inventory is up 21.7% compared to the same quarter the previous year meaning that buyers are presented with more choices when home shopping. Moreover, with a 6-month supply considered healthy and balanced, even with all the new construction projects underway, our current supply is still under market demand.

The average sale price of a home in Manatee County last month was $290,000 which is down 5.5% compared to the same quarter last year.

Priced at $289,000 this three-bedroom home in Bradenton set on nearly half acre is just under the average sales price.

5120 21st St E, Bradenton, FL 34203 | $289,000

5120 21st St E, Bradenton, FL 34203 | $289,000

Located on Sarasota Bay, this luxury Bradenton home for sale was completely remodeled in 2010 and includes an expansive lanai with a resort-style pool and spa. Priced at $1,549,000, this smart home offers many state-the-art features controlled by remote control.

5016 64th Dr W, Bradenton, FL 34210 | $1,549,000

5016 64th Dr W, Bradenton, FL 34210 | $1,549,000

 

To learn more about Bradenton real estate, Bradenton east real estate, Bradenton West real estate, or Anna Maria Island real estate, contact a Michael Saunders & Company agent.

 

The Bradenton Beat: New Construction, Market Update & More was last modified: January 19th, 2017 by Kathryn Parks

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