The task of selling out three condominium projects from Miles Development Partners in Tampa and St. Petersburg isn't complete, but now a new company has been tasked to take that role -- and it isn't local.

The Marketing Directors Inc., a subsidiary of The Ryness Co. in San Diego, is the new sales and marketing firm taking over 1010 Central and The Sage in St. Petersburg as well as Box Factory Lofts near Ybor City along with three other properties in Orlando developed by both Miles and the Chicago firm MCZ/Centrum.

The Tampa-St. Pete properties alone represent more than 100 units that remain unsold.

Each property has its own specific selling points, said Shahn Douglas, senior VP of Marketing Directors' Orlando office. "People have been reading all the negative press [about the housing market], but part of our jobs is to create some urgency."

Real estate analysts have characterized the current market as one slanted heavily toward buyers, but lack of interest is not the reason why those buyers aren't materializing, said John Huckaby, director of condominium sales at Miles' Atlanta office.

"It's not the people who aren't desiring our product. It's the lenders," Huckaby said. "The people who are buying under $250,000, there are no more 100 percent financing deals. There's not even 3 percent down financing anymore."

Finding the common denominator

Marketing Directors replaces a Jacksonville Beach firm, Lifestyles Realtors, at The Sage, and Tampa-based Smith & Associates Real Estate at Box Factory and 1010 Central. As developers look for ways to get excess inventory absorbed in the down housing cycle, they are reassessing marketing relationships examining everything from efficiency and message to actual sale campaigns.

Miles Development decided it had an opportunity to reposition its properties, looking for one company to take on a number of projects.

Marketing Directors declined to provide details about its billings as a company and for these accounts.

On this business, Marketing Directors competed with another Atlanta agency, Coldwell Banker The Condo Store, for the sales and marketing contract that would sell Miles Development properties as well as two communities built in Orlando by MCZ/Central of Chicago: The Palms Club and Mirabella, representing 400 units valued at $90 million.

The changes meant that Smith & Associates would have to part ways with Box Factory Lofts and 1010 Central.

"They were trying to consolidate their properties within the state with one company," said CEO Bob Glaser. "We're really focused on the Tampa Bay area only and making the most of the sales" here.