Bayshore Boulevard could soon see another high-rise building on its growing waterfront skyline in South Tampa.
Construction has kicked off on Altura Bayshore, a 23-story luxury condo tower on 2907 S Ysabella Ave., the developers behind the project announced Wednesday.
After delays because of permit challenges and relocating power lines, work has begun on tearing down the parking lot to replace it with a parking garage for residents and workers of a neighboring office building.
It will be the first structure to go up on the site and is estimated to be completed by March.
The Ronto Group, a Naples-based real estate developer, submitted a permit in mid-July for constructing the main tower and expects to break ground in the last quarter of the year.
The original plan had 73 units worth up to $2.9 million, but now the range has expanded from $1.3 million to $3.4 million, due to a stronger market and higher construction prices, according to company officials. About 35 percent of the units have been sold so far.
“Residential real estate has been the shining star during the pandemic,” said Anthony Solomon, owner of Ronto Group, in an interview with the Tampa Bay Times.
Solomon said Altura Bayshore is attracting out-of-state buyers who are looking for a change of scenery or new career opportunities. There’s also interest from locals who want to upgrade to something new.
“In Tampa, we are getting more younger buyers which we don’t see as much of in Naples or Sarasota,” Solomon said.
In a rare feature, each residence is designed as a “thru-unit,” meaning each condo faces the east and west to get maximum light coverage and views of Bayshore Boulevard and the bay toward MacDill Air Force Base. Each residence comes with a private elevator entrance.
Other amenities include a dog park, pickleball courts and an outdoor rooftop with a pool and social lounge.
Ronto Group is focusing more on developments catering to a growing number of people looking to stay more physically active and seeking a community atmosphere with restaurants and retail options nearby, Solomon said.
“It’s not just about golf anymore,” he said.