SARASOTA, FLORIDA, June 27th, 2017 – Manatee County is considering a $1.3 billion gross budget for its next fiscal year which could finally fund priority projects shelved earlier because of the Great Recession. The coming fiscal year marks the first time that the county has abundant discretionary income since that economic debacle induced mainly by the last housing bust.
Population growth, rising property values, and a newly-passed half-cent sales tax are the factors behind this reversal which could favorably impact homes for sale in Bradenton and in other county markets as well. These factors have generated gains in revenue substantial enough to enable the county to balance its budget without tapping its reserves, the first time in 10 years that it would be able to do so.
Manatee’s new budget is likewise addressing the slashed county services and workforce cuts that had been instituted during the Great Recession. With its positive cash flow, the county would be considering inclusion in the budget for 10 additional law enforcement officers and two community paramedics.
Public hearings slated for September would further concretize other priorities in the county’s budget. Some of the priority areas already identified include replacement of aging infrastructure, healthcare solutions and incentives for affordable housing.
For Manatee County, one of the biggest challenges is housing within reach of the workforce needed to sustain the area’s economic development. Various initiatives were recently taken to address this need which is also the concern of many millennials and professionals who want to pursue careers in the region, a potent market segment for Bradenton homes for sale.
This June, the affordable housing advisory committee is set to continue work on incentives for which four priorities have been already been identified. The priorities include tax perks, multifamily housing around employment hubs, and fee buy-in/pay-in for non-affordable housing.
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The county’s planning commission in May also recommended approval of the preliminary site plan for 86 multifamily residential units at 5410 14th St. West in Bradenton. This project would have 25 percent of its units set for affordable housing.
A short distance north of this property, the redevelopment of DeSoto Square launched recently likewise holds the promise of homes affordable to its Bradenton community. Madison Properties, which is in charge of the mall’s redevelopment, said the area that Macy’s formerly occupied in the shopping complex at 303 301 Boulevard West is a potential spot for affordable housing.
The developer likewise noted that DeSoto Square has structurally sound building with plenty of unfulfilled potential. It added that the mall’s full redevelopment plan will be finalized during the next nine months. So far, the work that has already started include the upgrade of the parking lot lighting, with repainting and lot paving scheduled next.
These brewing developments, definitely positive for Bradenton homes for sale, appear to have already caught the attention of some smart home buyers. At the Woodpark of DeSoto Condominium just north of the shopping mall, a two-bedroom unit with a tag price in the low $100s was sold recently after just three days of its listing on the market.
The few properties currently sales-listed at the neighboring DeSoto Square Villas could be grabbed as quickly. These too are two-bedroom units priced in the low $100s with living areas of about 1,100 square feet and well-positioned to reap benefits from the dynamism of the Manatee housing market.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>