TAMPA — Real estate investor Santosh Govindaraju spent months trying to buy Channelside Bay Plaza to revive it. He didn't end up with the property, but he has plans to do the same thing with another downtown waterfront complex: Knights Point on Harbour Island.
Govindaraju's real estate equity firm, Convergent Capital Partners, paid $7.5 million Wednesday for the 100,000-square-foot complex with 294 parking spots at Harbour Island's north end next to the Westin Tampa Harbour Island hotel. One of his investors is Liberty Group CEO Punit Shah, who was his partner in the failed attempt to buy the Channelside complex.
Knights Point is best known as the home of Jackson's Bistro, the popular restaurant and lounge. Govindaraju said he plans to spend $10 million to fix up the common areas and bring in more high-end retail and dining options, like a sports bar and Tex-Mex restaurant. He also expects to have 75 percent of the office space leased by year's end. He hopes to expand the 20 existing boat slips by 44 berths for existing Harbour Island residents.
"We really want to activate the marina," he said. "Our vision is … we want this to be the southern end of the boating community."