JMC Communities has begun construction on the former Belleview Biltmore property, where a new condominium and carraige house community will be built. The first stage is the entrance road and sales office for the new condos and townhomes that will be built. Construction of the first condo building “Allamanda” is scheduled to begin later this year and half of the units have already been sold. Careful demolition of the historic property are still underway and part of the original hotel is being moved and rehabbed to be the centerpeice of the community. and the projected completion date for the entire project is fall 2019.
One again 2 Pinellas County beaches were listed amoung the top in the US by TripAdvisor. Clearwater Beach placed first, with St Pete Beach coming in at number 4. The list is published annualy and beaches are ranked by the TripAdvisor online community.
2 hotels on Clearwater Beach have fetched near record figures in the past year. The 242 room Hyatt Regency Clearwater Beach Resort and Spa was just sold for $120.5 million. Last February the Clearwater Beach Hilton sold for $134 million. Only the Tampa Marriott Waterside topped the sales prices when it was sold for $199 million in 2014. The Clearwater area hotel market is among the strongest in the US, whith occupancy up 5.6 percent last year and the strongest increase in per-room revenues.
Due to strong pre-sales, a 41-story condominium tower on Second Street North, “One St. Petersburg”, is set to break ground earlier that expected – another sign that the area’s real estate market is on the upswing. The mixed use project consists of a 253 unit residential condo tower and adjacent 13 story hotel (Hyatt is said to have committed) with 173 rooms. Ground breaking is set for early 2016, 3-4 months ahead of schedule. Completion of the hotel tower is scheduled for early 2017, and the condo tower in 2018.
So far 88 condos have been reserved, with prices averaging $1 million each. Amenities include a 40,000 sf, elevated resort deck with fitness center, pool, cabanas, and spa.
The project will create 350-500 construction jobs, and 150 full-time jobs when complete. The project will also generate over $6 million in impact and building fees, and taxes on materials. Upon completion it will provide an annual increase of $500,000 in additional hotel bed tax revenue, and a $5.5 million increase an annual property tax revenue.
Sunset Pointe at Collany Key, a new condo community planned for Tierra Verde that was put on hold a few years ago, is back on track. 120 condos will be priced between $900,000 and $1.3 million. Collany Key is a 19-acre island next to Shell Key Preserve that is connected to Tierra Verde by a bridge. The units will feature 3 bedrooms, 3.5 baths, all with water views and garage. Click here for details on units available for sale: Collany Key Listings
Once again, Tampa Bay area beaches have received top honors as some of the best in the country in TripAdvisor’s 2015 Traveler’s Choice Awards of the Top U.S. Beaches. In fact the St. Petersburg – Clearwater area is the only destination in the U.S. with two beaches in the top 10, with St. Pete Beach ranking at #2, Clearwater Beach at #8. This annual ranking is based on millions of traveler reviews. Both beach towns have received previous honors – St Pete Beach took 1st place in 2012, and Clearwater Beach was voted best beach town in the U.S. by USA Today.