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Pointe Developers is proud to have been ranked #117 in the Hispanic Business top 500 Companies in 2007. In addition, Pointe Developers, Inc ranked #5 in the Hispanic Business 100 Fastest-Growing Companies.

UNIVERSITY AREA - Forget what you might have read about the death of the condominium conversion market in Tampa.

Bay Pointe Colony is the third '70s-era apartment community near the University of South Florida to go condo in the past year. They comprise the second wave of New Tampa area condominium conversions - older units, lower prices.

"It's a different market and a totally different price point," sales director Jane Kinnen said. "We're targeting first-time homebuyers."

Two-bedroom units at many of the New Tampa condo conversions sell for $180,000 to $210,000. A two-bedroom, one-bath unit at Bay Pointe starts in the low $100,000s. One-bedroom units start at $90,000.

"We see our target market as single, young professionals and single parents," Kinnen said. "We're offering attainable housing for nurses, firefighters, police and teachers."

Pointe Developers paid $13 million in April to buy Emerald Cove, a 260-unit apartment complex with a lousy reputation. Previous owner MBS had racked up more than $160,000 in code enforcement fines on the property, which is on Bearss Avenue near Livingston Avenue. Hillsborough County's legal department agreed to settle the case for $50,872 in order to facilitate the sale.

Pointe has gutted the complex inside and out. Project manager Alan Clairmont estimated that each unit is getting about $15,000 in renovations. That includes new drywall, kitchen cabinets, counters, tile, doors, appliances, carpet, enclosed patios, air-conditioning units and bathroom fixtures.

Each unit comes equipped with a new iPod and built-in sound system.

The grounds are getting an upgrade, as well. The developer dredged a lake on the property's eastern boundary and is building a boardwalk along the shore. It's repaving the parking lot and applying brick detailing to the buildings.

"We're building a huge new clubhouse with a pool and outdoor kitchen," marketing director Amanda Smith said.

Hillsborough County code inspector Gene Minkel knew the old Emerald Cove inside and out. The complex had dozens of violations in the past, but that doesn't mean it won't be a successful condominium conversion, he said. Even condemned apartment complexes such as Amberwood in North Tampa can have a second life as affordable condos.

"If it turns into a positive thing for the community, I'm all for it," Minkel said. "Hopefully, they'll turn it into something as nice as Amberwood. I was surprised by how nice those units were."

Julian Garcia, executive director of the University Area Community Development Corp., said he isn't familiar with Pointe's track record. "But anytime someone takes a complex that had code enforcement problems and does a total rehab, it's going to be good for the neighborhood," he said.

Kinnen said the sales team from Premier Realty Advisors is committed to helping first-time buyers. "A lot of people think they can't qualify for a loan because they have bad credit, but we can help people clean up their credit," she said.

The grand opening is scheduled for Nov. 4. The sales office opens Oct. 30. For information, call (813) 977-8300 or visit www.baypointecolony.com.

Pointe Developers is proud to reveal that we have recently sold our last project on SW 8th Street. The project consisting of approximately 2.5 acres was sold to Sergio Pino of Century Renaissance, LLC. This project is very dear to us because some of our families either lived or are living in the Little Havana area. Pointe is happy to have turned over this development to Mr. Pino who will be one of the innovators in the “Renaissance” of 8th street. Mr. Pino has the best interest of the community at heart as Pointe Developers did. The community will benefit from this project because it will provide housing and jobs for the businesses that will be occupying the retail space included in the plan. We look forward to the future of Little Havana.

In addition to the Florida's Best, we are also happy to share that we have been ranked #239 on the 2006 Hispanic Business Magazine Directory of the 500 Largest Hispanic owned businesses. As a majority owned Hispanic company we are delighted to humbly represent the Hispanic community as it continues to rise and make its own mark.

Pointe Developers is proud to announce that we have been recognized by the Florida's Best for the following categories in 2006:

The Florida's Best is an annual event that identifies the best work of those in the building industry. The contest is more than 22 years old and is produced by the Builders Association of South Florida (BASF). It is with great honor that we accept the awards recognizing our hard work and accomplishments.