Make us your home page
Instagram

Slump stalls Tampa's tallest condo tower

TAMPA — Felix Amon dreamed of building taller than Trump, but now finds himself hammered by the slump.

Poor sales and tighter credit have forced Amon, based in Daytona Beach, to seek Chapter 11 bankruptcy protection for his Tampa Tower 2 project.

The 608-foot, 51-story condo skyscraper would have reached higher than any building in the region. Tapered at its top and crowned by an antenna, the $350-million tower would have resembled a stumpier version of the Empire State Building.

Amon bought the downtown lot at Washington and Morgan streets two years ago and had fallen behind in repaying $7.4-million to TransAtlantic Bank. The Miami lender had initiated foreclosure proceedings, and Amon plans to use bankruptcy reorganization to block the bank from seizing the property.

"We'll definitely keep the project and keep moving forward. We just want to freeze the process to protect our asset," the Austrian-born Amon told the St. Petersburg Times Tuesday.

Amon's is the third Tampa condo project to declare bankruptcy this year. The Towers of Channelside and the Place at Channelside filed for Chapter 11 in January and February, respectively. Both were largely completed but were hit hard when buyers bailed from contracts.

Even the best-known local condo project, Trump Tower Tampa, has threatened bankruptcy should its financing efforts fail. The 52-story building, licensing its name from New York tycoon Donald Trump, has yet to get off the ground,

"Just remember what's happened to Trump Tower, and all the other projects," Amon said. "All the buyers ran for the hills."

Amon said the bankruptcy filing doesn't apply to another of his local condo buildings, Clearwater's Station Square. The downtown redevelopment project on Cleveland Street offers 126 units and a rooftop pool. "Station Square is just about finished," he said. "Luckily that was sold before the crisis started."

James Thorner can be reached at thorner@sptimes.com or

(813) 226-3313.

Slump stalls Tampa's tallest condo tower 03/25/08 [Last modified: Friday, March 28, 2008 1:23pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. New owners take over downtown St. Petersburg's Hofbräuhaus

    Retail

    ST. PETERSBURG — The downtown German beer-hall Hofbräuhaus St. Petersburg has been bought by a partnership led by former Checkers Drive-In Restaurants president Keith Sirois.

    The Hofbrauhaus, St. Petersburg, located in the former historic Tramor Cafeteria, St. Petersburg, is under new ownership.
[SCOTT KEELER  |  TIMES]

  2. Boho Hunter will target fashions in Hyde Park

    Business

    Boho Hunter, a boutique based in Miami's Wynwood District, will expand into Tampa with its very first franchise.

    Palma Canaria bags will be among the featured items at Boho Hunter when it opens in October. Photo courtesy of Boho Hunter.
  3. Gallery now bringing useful art to Hyde Park customers

    Business

    HYDE PARK — In 1998, Mike and Sue Shapiro opened a gallery in St. Petersburg along Central Ave., with a majority of the space dedicated to Sue's clay studio.

     As Sue Shapiro continued to work on her pottery in St. Petersburg, her retail space grew and her studio shrunk. Now Shapiro's is bringing wares like these to Hyde Park Village. Photo courtesy of Shapiro's.
  4. Appointments at Raymond James Bank and Saint Leo University highlight this week's Tampa Bay business Movers & Shakers

    Business

    Banking

    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. Jackson will oversee all of Raymond James Bank's operational business elements, risk management and strategic planning functions. Kackson joins Raymond James Bank after senior …

    Raymond James Bank has hired Grace Jackson to serve as executive vice president and chief operating officer. [Company handout]
  5. Cooking passion spurs owner to pull open AJ's Kitchen Drawer

    Business

    TAMPA — After graduating from the University of Tampa in May 2016, AJ Albrecht spent four months traveling around Southeast Asia and Australia.

    AJs Kitchen Drawer offers a wide variety of unique kitchenware items, such as handcrafted knives and wooden items, as well as local gourmet products. Photo by Danielle Hauser