Hyde Park Tampa FL | Hyde Park Village - Neighborhoods, Restaurants, Things to Do [2022-2023]

This blog article is derived directly from our YouTube video (featured at the bottom)

 In this article, I'm going to not only talk about, but I'm also going physically show you the amazing district of Hyde Park in South Tampa, Florida, food and drink, health and wellness, fashion, and specialty. We're going to talk about the neighborhoods, the real estate prices, and everything in between.

Today we're talking about, Hyde Park Village.

  • Food & Drink
  • Fashion & Specialty
  • Health & Wellness
  • Events
  • Neighborhoods
  • Variety
  • Pricing

Food & Drink


We're going to start with the always fan-favorite food and drink category. So I'm going to portray this as the perfect day just to structure it appropriately. Let's start with your wake-up. I'm not a breakfast person, I'm a coffee person, and you have places, just one example would be a Buddy Brew coffee behind me. This is a real Tampa staple. They started here, their dog is the logo. This is one of their locations, but they've mirrored the aesthetic of Hyde Park versus their downtown location. It's small, but it's quaint, it's pleasing and it's right in the heart of things.

All right, you've had your coffee, a little time has passed. You're looking for an early lunch. One of my favorites is a place called Bartaco. This is the patio here. You can see it's just a cool vibe. It's street-style Mexican tacos. So you'll get three or four tacos at a time. Real handmade kind of feeling chips, but the whole vibe is like a Bohemian surf aesthetic. So it's open air, it's breezy, it's on an amazing corner here right in the middle of the village. That's one I check out. All right, so now we're between lunch and dinner. So one of the cool things I wanted to show you was these courtyard alleys that they built from the street to the rear. And what happens is you have places like behind me here, the Wine Exchange, which is perfect for this category. Great place to grab a glass of wine pre-dinner.

The front of the restaurant is on the street and the rear gets to this patio. So it's like a long shotgun. And you can see how aesthetic this area is. It's quaint, there are waterfalls. I just love the overall. So you have a place like that and you also have the Irish 31 chain restaurants would be another place to grab a beer, like a light bite. But variety is not something you'll run short of. Okay, now onto literally the meat of this conversation, pun intended. I mean, let's talk dinner. So I have a few different ones I want to show you for this category. And the first one is a place called Meat Market. You can see behind me. You can see a beautiful aesthetic. It covers this full corner. So just the environment alone is quite lovely. But where you're going to find here is your real hand-cut specialty meets, your high-end seafood, your high-end drinks and cocktails, wine, and cocktails.

Dinner option number two is a place I would check out behind me called Timpano. The way that they frame it up on their website I think is perfect. Italian market by day and neighborhood cocktail bar by night. They have classic Italian fair, but also like a modern twist in the way they put it. And you can see kind of just that turn right there I think encompasses this whole aesthetic. It's kind of a piano bar feel. It's on a different corner, on a different end of Hyde Park. So it's unique in that facet too. But I would check this one out.

To finish off the dinner section, the last place I wanted to mention on this list is a place called On Swann. It's literally on the street called Swann, but this is your classic upscale American tavern feel, awesome for cocktails, steak, and seafood. It's got a little bit of everything. It gives you a whole different aesthetic. Right. So depending on what mood you are in, especially I think Hyde Park Village satiates a lot of those needs.

 Fashion & Specialty


All right now onto fashion, style, and a category I'm calling specialty. So you're not going to run out of options here when it comes to stores of some sort. And this corner's a great example. Just taking a quick spin here you have Suitsupply, you have Mizzen+Main, Kendra Scott, Warby Parker, and the glass place. You have Sephora and West Elm. You take one step back, you have Sur la Table, you have Sprinkles, the cupcake place, you have Lululemon, and you have Anthropology just to name a few of the 41 plus total options in this six-block radius.

Okay, continuing on that same theme, I just wanted to show you one more section. So where I stand is the polar opposite corner that I was just at. And you have a whole nother vibe. Bonobos, Madewell, Sunni Spencer, Rag & Bone, just to name a few on this one little strip. Vineyard Vines across the street. You're not going to run out of options here. And I love that every corner kind of feels different. So it's a great place. It's just an unbelievably walkable district.

Health & Wellness


Now we have health and wellness. So I know there used to be a SoulCycle right here, which is gone now, but you do have your disposal places like Clean Juice for a quick nutrient hit. You also have Barry's Bootcamp, the franchise brand if you ever heard of that. They're opening a physical location down this way, but really South Tampa in general is going to be the name of the game here. So beyond just an unbelievably safe district to bike and run and enjoy the 300 days of sunshine a year, you're going to have endless yoga, and cycling group classes. You're not going to run out of options there, but you want to look at is beyond this one zip code. You want to look at South Tampa in general, Bayshore Boulevard and the surrounding area, Davis Islands, tons going on there.

Events


The final thing I wanted to mention for the High Park Village area specifically is events. So you have a six-block area that's safe, clean, and smart, and they utilize that to bring people together. So it happens to be the perfect timing for this video. In October, you can see the pumpkin patch behind me. Just one example of seasonal events. There's a children's book set up over here with the green space you can see. And then they use this open straight strip of the street here to do farmer's markets where they block off the street, there are First Friday events where they let the restaurants come outside and they block off the street. There's a flower truck coming next week to make your own bouquet. I don't know. You're not going to run out of options there. I think it's a huge, huge perk of living in this district.

Neighborhoods


So I'm going to talk a little bit about the neighborhoods. The unique thing here unanimously is I can touch a restaurant for the village here, Hyde Park Village. Turn here and you have this. That's the feel. It feels like a quaint neighborhood, with historic bungalows. It's charming. That's what you want to get across here because that's what people fall in love with. It's hard to describe. A lot of cities online look the same. This one feels like these are all neighborhood joints. And the big thing here, it's the most mature version. So Tampa has a lot of this. It has Riverside Heights, Hyde Park, and Seminole Heights. It has Tampa Heights, it has other areas like that. Those feel much more like an urban city. This is so mature that a lot of the streets have been restored. A lot of the real estate's already gotten up to par. So the house-to-house divide is not as large as a lot of the surrounding areas.

Variety


The other thing I wanted to mention was variety. So you have everything from those historic bungalows and you have some urban infill, knockdown, modern stuff here, but people really try to keep the charm and the historic. But you have a lot of variety as far as housing type. Because it's so close to a walking district, a lot of people want something more turnkey and more paired down and less of a burden. So you're going to see a lot of this kind of northern, almost brick-style apartments and town homes, whether you rent or purchase, you will find a pretty good spread of variety overall.

Real Estate Pricing


Let's talk about the pricing. That's important. So I'm going to talk numbers. In the last 12 months, you had about 316 total sales in this district. The average and the median house size was about a three bedroom, three bath. But you're just talking 1800 to 2100 interior square feet because you're really like, you sacrifice space in these areas. After all, you buy into the land. The average price is set at about 1.2 million across those sales. Now the average is going to weigh outliers, right? So the 1.8s and the two million of the world are going to average that up. And the median was about $750,000. So you had half of the properties under 750.

Now if you're buying a single-family and you're under 800K here, you're probably buying something you have to restore, something like this blue house in the background or something like that. You're buying something you most likely have to restore. But if you had something someone else renovated, there is a good chance in the new market you'll be under 1.3, 1.4 million. But these prices and this house size should translate pretty evenly, in my opinion, over the next 12 months.

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AUTHOR: PLACEHOLDER

Updated: PLACEHOLDER

One of the first questions I'd probably ask myself in this scenario is, "Am I targeting a new construction home in 2023 or a resale home?" Because economics and logistics are going to vary quite a bit when it comes to this different situation, basically. So if we talk about new construction just for a minute, what you have to look at is, realistically, it's taking about 14 to 18 months to build these homes right now. So if you just say logistics first and you go to sign today, you're talking, that's maybe guaranteeing yourself a 2024. But as time passes, this might be a 2025 or 2026 conversation. So just purely on that timeline alone, how much does that matter? And then if we go more on the economic side, which is where my heart kind of leans most of the time, is a simple fact is you were making a decision relatively early and trying to see, "Do I know enough information to be okay with that decision if in nine months from now, something happens that altered the way I felt about this deal and I still have nine months to go on the contract without any recourse or very little recourse?" Because that's typically the way these contracts are written. Now, it's give and take with that, right?

So two years ago, when builders let someone sign a home and these folks that in certain situations got these huge equity positions from this crazy one-time market, when they signed a contract, there was a lot of times where the builder would've loved to go back and be like, "Hey, nevermind. This house should be way more expensive than that." But there's no price escalation clauses for the most part in the contract. So the builder can't necessarily raise it in most contracts, right? This isn't a across the board, but if something changes on their end, but also the same reason that typically if they lower your neighbor's house next to your house while you're six months into a build, you can't go back and be like, "I want the same price." I've seen shades of gray with all this kind of stuff.


But all that to say, you basically have to make a decision so early that you almost need to get yourself around a no-regrets model of what information do I need to know. And the other thing I might do is I might actually dive into the worst-case scenario. You built a house, your four months into a contract and they're still building it, right, and you got a while to go. But then the house three doors down, the builder comes and they list that home for $80K, and you look at it and you're like, "That's my same house." And you go to them and you say, "What can we do with this situation? This is my home." And they're like, "It is what it is. We didn't know at the time, they're working off a margin." Obviously, they would try to get more money if they could. They don't feel like they could, and maybe they'll throw you a bone and give you $15K or give you incentives to something. But you can't really do anything because contractually, it's very stern. So then, I would maybe look at your personal situation. Aside from anything that's happening, the noise around, because most likely those one or two one-off comps aren't going to kill your equity position. It's looking at your particular situation and what are the actual negatives, because you got to look at when are you going to sell? Are you actually in the red when you close this just because of that one home?


What about the other million of comps around the area? Are you actually in the red? Also, when are you going to sell the home? Do you actually think it's not going to be worth what you need by the time you sell? I get you could've made more money, but if we knew all that information in advance, we'd all have a trillion dollars, right? So I get no one wants to get screwed, but this is a volatile market anyway, so you got to kind of balance that. You could get down to the economics of it pretty minute. You could find out the actual financials of interest rate changes and equity position changes and all that kind of stuff.


The other big thing to look at, because this is a big balance of juxtaposition, is the cost of waiting to sign. Say you don't want to be in this situation I'm describing, and you wait and you're like, "I'm hearing all this stuff about price drops." So by waiting, what is the gain and what's the risk to you? Now, I think, thankfully right now, I don't know how much risk you would have in actual price differences by waiting, but I don't know how much gain you have either. So if you wait, what if you don't get this windfall of $150,000 decreased price of a home? What if it's 10 to 15 to 20? Then was it worth it by losing the time to wait to start your build? I don't know. I mean, I'm just asking these questions, devil's advocate.

Also, the big thing here is this is a big pot of money. What you gained on this side, did you lose in your home state by paying what you're paying to live in your current home state or whatever your financial situation is there, did that net out in a way that benefited you enough to go through another winner or whatever this may be? So I'd really look at the whole end of the spectrum. This is with running homes in between, interims, liquidating a home, buying a new one, building versus resale. All this stuff comes into play. I'd really look at that hard. And just to bring that all full circle, if none of what I just said sounded remotely attractive, or you're just not romantic about new construction or you need a quicker timeline, resale homes would inherently give you much more control in general. Just being able to wait, wait, wait, wait, wait, wait nine months and then buy home and be in there on month 10, it would be quicker than any build anyway. And also, just like when you pick a price and you negotiate, you at least know that at that time, within a 30-day gap, I knew all the information that I could've known. But resale would be an alternative if the volatility of a too long of a gap of floating liquidity is really an issue, then you could just wait and get real picky about resale homes.


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