Developer plans luxury project for remaining Harbour Island sites
Patrinely Group LLC has purchased the last two remaining residential real estate sites on downtown Tampa's Harbour Island, with plans to begin construction on the first phase of its luxury residential project, by the end of the year.
The first phase, on the eastern half of the 3-acre parcel that formerly housed Stallone's Market, will feature a 20-story high-rise luxury condominium encompassing 100 tower residences priced from the $300,000s to more than $2 million. Resort-like villas and townhomes at street level will surround the residential tower.
The development's Palm Beach, Mediterranean-style architecture will replicate designs found in high-rise oceanfront residences in South Florida, and this will compliment the prestige of Harbour Island,
"For this level of sophistication and luxury, we seek 18-hour' urban mixed-use locations that cater to those who desire such living experiences like those on Harbour Island,"
Carl Lindell, an investor who headed family-owned automobile dealerships for 35 years, controlled the last development sites on Harbour Island and has become Patrinely Group's partner in this effort.
his company's research shows a substantial demand for upscale urban living in the Tampa market, especially on Harbour Island. Hence, the development's amenities will include a pool terrace with cabanas, gardens and manicured lawns, a destination spa, concierge services, 24-hour doormen, valet parking, and fitness, business and media centers.
Marvin Rose, real estate market analyst and principal of Rose Residential Reports, agreed with Patrinely's assessment saying, "Of all the condominium projects proposed in and around downtown Tampa, The is unique. Harbour Island is undoubtedly the best residential location in the downtown area. And promises to deliver true luxury condominium residences and services to a degree not yet seen in Tampa."
Patrinely said that he expects the first phase to be complete by 2006, and that while plans for the next two phases are still under development, he expects the project to ultimately have more than 300 luxury residences and possibly a personal luxury hotel when it is complete.
A Florida native, Patrinely said his firm is very familiar with the Florida market, having developed over the last 15 years the original Miami Arena and Class A office properties in Coral Gables for IBM and in Fort Lauderdale for Hewlett Packard.
Another project is under construction in Plantation, at Patrinely Group's 575,000-square-foot Cornerstone campus, where the company has one of its six national offices. The Texas-based firm is establishing a permanent office in Tampa, as well. Other offices are in Houston, Denver, Phoenix, Bethesda and Princeton.
"We have been quietly seeking a stellar location for our initial luxury residential project in Florida," said Patrinely.
The Plantation project is a 12-story development with 86 condominiums priced from $550,000 to $2.5 million that just began construction.
It's amazing to know that Harbour Island's pretty close to being built out.
That said, I wish some of these builders would get off the med revival kick.
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