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SunRidge Condominiums convenient to USF

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By Bill Chastain, Special Sections correspondent

Published: November 9, 2007

In a challenging market, SunRidge Condominiums on 50th is not feeling the pain for good reason, says Dave Swanson, director of sales for Smith & Associates Real Estate.

"SunRidge offers convenience and location," he says, adding that SunRidge is competitively priced and has been helped by the growth of the University of South Florida. "The condo market has not been great for the last year and a half, but we've been very successful in selling out over 141 units in a year's time here."

The recently renovated condominium community of 150 residences is near the USF campus, Temple Terrace, Interstates 75 and 275 and the University Mall.

"We're right across the street from the USF campus, between Fletcher and Fowler [avenues] on 50th Street, on the east side of the campus," Swanson says.

Given its location, SunRidge targeted USF students.

USF "has been our target market and the majority of the purchasers have typically been parents and students buying one as an investment, in addition to having housing for their son or daughter," he says.

Swanson adds that such arrangements allow the owner's child to have roommates, which defrays some of the ownership cost.

"When you compare what they pay on campus for housing versus what they're buying these places for, it's virtually covering their costs, or in some cases, in the larger units, they're actually reaping a positive cash flow," Swanson says.

SunRidge offers 150 condominiums — 50 are town-home style and 100 are villa style.

The two-story town homes provide three bedrooms and 2½ bathrooms.

"Those were built in 1985 and what we do with the town home side is we completely remodel everything," Swanson says. "We basically go in and gut the interior and then everything is put in new — kitchen cabinets, counter tops, appliances, paint, carpet, ceramic tile.

"We do the same thing with the bathrooms. Gut the bathrooms, put in all new tile, vanities, faucets, fixtures, so it's a complete redo over there."

The villas showcase different architecture.

"That side was built in 1998," Swanson says. "What we had there — we're down to one unit left available for sale — is two bedrooms, 2½ bathrooms all the way up to four bedrooms, 4½ bathroom units.

"The unit we have left is 1,300 square feet, two-bedrooms and 2½ bathrooms," Swanson says. "What we do on that side basically is new paint, new carpet and new appliances. We don't do the extensive remodeling, because those units are only 8 or 9 years old."

The remaining villa is $166,000; the town homes are priced from the mid-$150,000s to $160,000s.

Amenities include two clubhouses, two swimming pools, one Jacuzzi, a media room and a recently remodeled fitness center.

"These [residences] are unique because of the location, the pricing and the amenities," Swanson says. "There's nothing else like it near USF."

To reach SunRidge Condominiums on 50th, take Fowler Avenue or Fletcher Avenue east to 50th Street. The sales center is open from 10 a.m. to 6 p.m. Monday through Saturday and noon to 5 p.m. Sunday.

For information, call (813) 899-2158 or visit www.sunridgestyle.com.

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