TAMPA — A burgeoning pocket of South Tampa is slated for two luxury apartment buildings with 296 units dubbed Altis Grand Central. They will rise on Grand Central Avenue on an entire block bordered by Magnolia Avenue, Cedar Avenue and Cleveland Avenue. The site is across from the University of Tampa near Mise en Place and the Oxford Exchange restaurants.
Boca Raton developer Altman Development has 21/2 acres of property that is mostly parking lots under contract, according to Altman president Jeff Roberts. The block is owned by the Parido and Stoeltzing families. Roberts declined to name the selling price or what the company projects to spend developing the 300,000-square-foot project.
Altman is in the zoning process with the city of Tampa and plans to start construction in the spring of next year, he said.
"We've been looking in that area for quite some time. We're very excited about the ability to have a walkable location," Roberts said. "The accessibility is great. You are very close to South Tampa and parts of downtown Tampa."
This is Altman Development's first move into the core of Tampa, though it has built apartment communities around Northdale, Tampa Palms, Westchase and in southern Pasco County.
Rents at Altis Grand Central will range from $1,300 to $3,300 a month. The corner apartments will be about 1,500 square feet, with three bedrooms and two bathrooms.
Altis Grand Central will also include 5,000 square feet of commercial and retail space. One apartment building will be six stories and the other will be five stories.
Designs call for a combination of brick, concrete spheres, metal canopies and awnings, and barrel tile roofs. Many units will have views of Tampa Bay.
The complex will include a pool, a two-lane bowling alley, a fitness club, wet and dry saunas, a dog park and a covered sky lounge area.
"The property is going to be extremely upscale. There's nothing in Tampa that is similar to this," Roberts said. "The average household income of perspective tenants will be in excess of $100,000. This puts some real purchasing power right in downtown."
Contact Katherine Snow Smith at kssmith@tampabay. Follow @snowsmith.