A historic transformation is underway across Florida’s Real Estate and commercial development. From impressive investments in boat storage at Compass Rose Marina on Fort Myers Beach to the proposed Orange Station in downtown St. Petersburg and the recently sold One President Plaza in Tampa, florida is embracing its potential for growth and exciting opportunities.
New Boat Storage Facility
Paragraph: The new Compass Rose Marina boat storage facility on Fort Myers Beach is set to begin construction June 1st. This state-of-the-art project, reinforced with concrete and steel to withstand winds up to 200 miles per hour and a Category 5 hurricane, will include 286 dry storage slips and future plans for 29 wet slips and 30,000 square feet of retail, office and mini-storage space. Built in phases, with no timeline set for completion, the new facility is sure to bring tremendous value to the Naples/Fort Myers area.
The Compass Rose Marina on Fort Myers Beach is set to begin construction June 1st on a highly anticipated boat storage facility. This project, reinforced with concrete and steel to withstand winds up to 200 miles per hour and a Category 5 hurricane, will include 286 dry storage slips and future plans for 29 wet slips and 30,000 square feet of retail, office and mini-storage space. The project is to be built in phases, with no timeline set for its completion, and is sure to bring tremendous value to the Naples/Fort Myers area.
Developers Announcing Plans to Transform Orange Station
The Orange Station development at the site of the former police headquarters in downtown St. Petersburg is set to undergo a major transformation, with developers announcing plans to replace previously planned condominiums with 42 workforce apartments and more than double the amount of office space from 50,000 square feet to 125,000 square feet. An Autograph Collection Hotel is also included in the plan, which is subject to approval by the city before construction can begin. If approved, the project’s $80 million price tag will remain as originally announced, and construction could begin as soon as late this year. This exciting development is sure to bring new life to the Edge District and benefit the entire city of St. Petersburg.
One Presidents Plaza in Tampa has been sold to a South Florida private equity group for an impressive $14.25 million. This is a testament to the continued growth and success of the local real estate market, and serves as a reminder of the city’s potential for long-term investments.
Participant Capital Advisors Launches Sun Belt Multifamily Development Fund 1
Participant Capital Advisors, a Miami-based real estate investment firm, is proud to announce the launch of its Sun Belt Multifamily Development Fund 1. The fund, with an 8-year projected term, seeks to raise $250 million and will focus on multifamily properties in Tampa and Orlando, as well as Florida’s major metropolitan markets. Apex Group Ltd. will serve as the administrator of the fund. With a successful track record of developing over 50 projects, 9,500 units, 18 million square feet and creating over $4.7 billion in value, Participant Capital Advisors continues to exemplify excellence in the field of real estate investment.
Expansion of Michael Saunders & Co. in Sarasota/Manatee Area
Michael Saunders & Co. have greatly expanded their presence in the Sarasota/Manatee area by consolidating three offices into the Wells Fargo building on Main Street and Orange Avenue in Sarasota. This growth is a testament to their commitment to the area and their dedication to continuing to invest in it.
One thing is certain, Southwest Florida’s booming real estate market continues to thrive and create exciting new developments from Fort Myers Beach to Downtown St. Petersburg and Tampa. Each development provides significant value and benefits to the area, resulting in increased economic activity and job opportunities across the region. With each new project comes proof of the strength of Southwest Florida’s economy and an ever-growing demand for active and transforming communities. This successful track record makes it clear why private investors are consistently willing to invest in our dynamic geographical area.
