Posted Apr 23, 2018, 11:00 PM
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Join Date: Jan 2009
Location: Chicago, IL —-Austin, TX
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TAMPA | Pendry Tampa | 409 FT | 38 FLOORS
53-story Riverwalk Place developers reveal ultra-modern design
Quote:
The 53-story Riverwalk Place will redefine Tampa's skyline not only with its height, but also with an ultra-modern, all-glass exterior.
The tower's developer — a partnership between Feldman Equities, Two Roads Development and Tower Realty — on Thursday released the first rendering of the project since it went public almost three years ago.
Gensler is the architect on the project. Feldman Equities CEO Larry Feldman traveled to the firm's Shanghai office to meet with Shamim Ahmadzadegan, who designed the tower. Florida-based Adache Group Architects, a high-rise condo specialist, will also be involved with the project. GPB Capital Holdings LLC out of New York is an original partner in the project and will provide ongoing equity financing, a release said.
In a news release, development costs were pegged at $350 million. Condos will be priced from the $600,000s to $2 million.
Riverwalk Place will stack parking, office space and luxury units on downtown Tampa's last developable waterfront parcel, which was previously slated for a Trump Tower in the early 2000s. The tower will also feature restaurants that open up on the Tampa Riverwalk.
The residential developer in the project, West Palm Beach-based Two Roads Development, previously told the Tampa Bay Business Journal that the dollar value of presold units — not the overall number of units — would drive the groundbreaking date.
"There are quite a few construction lenders out there that would let us go vertical with few sales, and that's not our typical MO," Reid Boren, Two Roads managing director, said in March. "Presales are not all the same. If we sold the top 30 percent of the most expensive units, we’ll feel better than if we sell the lesser expensive units. It’s a function of dollar coverage to the loan."
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