Hersha Development, based in Philadelphia joins Orion Communities Inc. and R.L. Pearson & Associates as a full joint venture partner for the Ritz Carlton Tampa Bay.
When completed in 2011, the Ritz-Carlton will have 269 hotel rooms and 44 residences in the hotel and 132 residences in an adjacent tower. Among the amenities are a 15,000-square-foot spa and wellness center, boutique shops, retail space and various dining options. It will also have 30,000 square feet of meeting space, including a 12,000-square-foot ballroom. A sales office in the Rocky Point area will open early this year.