Wednesday, June 20, 2018
Real Estate

Tampa’s first luxury condo tower with just one residence per floor planned on Bayshore Boulevard

TAMPA — Fresh off their success with a condo tower in downtown St. Petersburg, a husband-and-wife development team now plan a luxury high-rise on Tampa’s Bayshore Boulevard.

The Sanctuary at Alexandra Place will have just 15 units — 14 covering an entire level each and one penthouse taking up two floors. All will have 360-degree views of Tampa and Old Hillsborough Bay.

Prices will range from $2.3 million to more than $4.8 million.

Brian Taub, who is developing The Sanctuary with his wife, Debbie, said their impetus for the project was the strong sales at Virage, a 24-story, 71-unit tower under construction on Bayshore. A penthouse listed at nearly $5 million there quickly went under contract last year.

"They established a very high-end value in Tampa that had not been previously achieved and we saw that the products that sold the fastest at Virage were the ones that faced Bayshore and were the most exclusive,’’ Taub said today. "We decided to do something that was as just as high- end and luxurious and try to improve on that."

RELATED COVERAGE: Developers buoyed by sales at Tampa’s new Virage condo tower

Taub said each unit will have 80 feet of all-glass frontage on Bayshore with windows designed so there are no frames to obstruct the views. Designed by St. Petersburg architect Tim Clemmons, The Sanctuary ’s curving facade will replicate the curve of Bayshore.

Another plus to the site at 2619 Bayshore, Taub said, is that it is centrally located between Howard Avenue and Bay-to-Bay Boulevard and is adjacent to Fred Ball Park with a natural spring, fountain and gazebo. "It’s absolutely beautiful," Taub said of the city-owned park.

This will be the Taubs’ second luxury high-rise: Bliss, their 18-story, 29-unit condo tower just off St. Petersburg’s Beach Drive, was completed last year. They previously developed two mid-rise condominiums on Clearwater’s Sand Key.

PREVIOUS COVERAGE: Developer, city of St. Petersburg win Bliss condo lawsuit

In January, the Taubs bought the .86-acre Bayshore parcel from Marilyn Mancuso Weekley for $5 million. Her late husband, Dr. Augustine "Gus" Weekley, spent his entire life in the house his parents built on the property in 1924. As a boy, Weekley often set up a stand outside the house and sold lemonade, mangoes, avocados and citrus to passers-by on Bayshore, his wife recalled for a 2007 story in the Tampa Tribune.

Taub said the house will be demolished "in the next month or two" with construction of the condos due to start this fall. Completion is set for 2020.

MORE: Go here for more Business News

Unlike many condo projects, The Sanctuary, marketed by Smith & Associates, will not take reservations.

"We will go straight to contract," Taub said. "Reservations in my opinion don’t show that people are serious — the deposit is given and could be retracted any time. We would like to know that the buyers are truly buyers."

The Sanctuary will be the third new condo tower on Bayshore Boulevard, which had not seen any condo construction for many years. In addition to Virage, Aquatica, a 15-story, 32-unit building is going up near Bay to Bay.

Contact Susan Taylor Martin at [email protected] or (727) 893-8642. Follow @susanskate

Comments
A tight supply cuts into Tampa Bay homes sales while prices keep rising

A tight supply cuts into Tampa Bay homes sales while prices keep rising

Tampa Bay’s two largest counties showed anemic home sales in May as prices continued to rise due to a tight supply.In Pinellas, sales of single-family home plunged nearly 12 percent from the previous May, the second-worst showing in a year. Prices, t...
Updated: 7 hours ago
Demolition looms for old Bromley office building at Midtown Tampa

Demolition looms for old Bromley office building at Midtown Tampa

TAMPA — Over the past month, demolition crews have gutted the old five-story Bromley office building at the future site of the $500 million Midtown Tampa project.On Sunday, the remaining skeleton of the building is scheduled to come down.The demoliti...
Updated: 9 hours ago
What historically high lumber prices mean for Florida home buyers

What historically high lumber prices mean for Florida home buyers

Blame a lack of rail cars in Canada or not enough semi trucks in the United States. Forest fires didn’t help. Tariffs played a big role, too. Even the buoyant economy takes part of the rap for frothy lumber prices, which hit all-time highs las...
Published: 06/20/18
What historically high lumber prices mean for Florida home buyers

What historically high lumber prices mean for Florida home buyers

Blame a lack of rail cars in Canada or not enough semi trucks in the United States. Forest fires didn’t help. Tariffs played a big role, too. Even the buoyant economy takes part of the rap for frothy lumber prices, which hit all-time highs las...
Published: 06/20/18
Report: 40 percent of Florida property will be ‘highly exposed’ to flooding

Report: 40 percent of Florida property will be ‘highly exposed’ to flooding

One of Florida’s biggest draws is also one if its biggest liabilities — its coastline. A new report projects that Florida is at the greatest risk of any state for tidal flooding caused by rising sea levels. And Tampa Bay faces some of the greatest ri...
Published: 06/18/18
Developer Grady Pridgen buys St. Pete’s shuttered Edward White Hospital

Developer Grady Pridgen buys St. Pete’s shuttered Edward White Hospital

ST. PETERSBURG — Edward White Hospital, closed four years ago because of declining revenues, has been sold to developer Grady Pridgen for $2.7 million.Pridgen could not be reached Monday for comment. City officials said he has submitted plans for rem...
Published: 06/18/18
St. Petersburg home becomes finalist in HGTV contest

St. Petersburg home becomes finalist in HGTV contest

ST. PETERSBURG — A house in St. Petersburg’s Old Northeast is a finalist in HGTV’s Ultimate House Hunt contest. Built in 2007 in the Mission Revival style, the 4,000-square-foot home a block from Coffee Pot Bayou is among 12 nationwide in the "curb a...
Published: 06/15/18
Updated: 06/18/18
Tampa-based Robbins Property Associates pays $43-million for Boynton Beach apartment community

Tampa-based Robbins Property Associates pays $43-million for Boynton Beach apartment community

Tampa-based Robbins Property Associates, has bought Aventine at Boyton Beach, a 216-unit apartment community, for $43 million.Aventine, garden-style apartments that are 95 percent occupied, will be renovated and renamed "Verona at Boynton Beach."It i...
Published: 06/15/18
‘Co-buyers’ account for a good chunk of Tampa Bay homes sales

‘Co-buyers’ account for a good chunk of Tampa Bay homes sales

More than 17 percent of Tampa Bay homes sold in the first three months of this year went to "co-buyers,’’ non-related persons whose names are on the deed, ATTOM Data Solutions found. That reflects a nationwide trend as rising home prices make it hard...
Published: 06/14/18
Here are the Tampa Bay ZIPS where flippers have done the best and worst this year

Here are the Tampa Bay ZIPS where flippers have done the best and worst this year

Tampa Bay’s flipping frenzy may be coming to an end as rising home prices squeeze profits.In the first three months of this year, the number of flips plunged 13 percent compared to the same period a year ago, a new analysis by ATTOM Data Solutions sh...
Published: 06/12/18