Video Link here (http://www.tbo.com/video/xml/MGBQXSW8QTE.html)

50-Story Condo Possible In Downtown Tampa

by: The Tampa Tribune

The Tampa City Council today will consider a proposal for a 50-story condominium at the southwest corner of Ashley Drive and Kennedy Boulevard.

A fact sheet from the project’s developer, Gibraltar Development Corp., says the timetable calls for breaking ground in 2007 with occupancy in late 2009.

The parcel, now the site of an eight-story office building, is less than a half-acre but sits at a prime downtown location on the Hillsborough River.

Described as a slender glass tower, the condominium would be called Venu.

The fact sheet says residences would range from 900 to 4,000 square feet, and unit prices would run from $400,000-plus to more than $3 million.

It would have 3,200 square feet of ground floor retail space. When plans were submitted in April, they called for two floors of parking. The new fact sheet boosts that to 10 floors of parking.

Absolutely beautiful building! It looks like it will be a new tallest building. I like the lines on the Ashley side of the street.

If this gets built, then I'll stop my yammering about St. Pete being light years ahead of Tampa design-wise. :)

Gorgeous! It even looks taller than what I'd expect for a 50-story building. The ground level shots look fantastic too! Good luck with this one.

^^ That's okay Dale, you yammer away. :) St. Pete has alot of beautiful towers on the way.

just a sidenote -- I hope they do a better job at building Venu then they did putting their music/video together to promote the thing. good music, but terrible sound. Aim for quality all the way - even in the presentation...

I wish in that video they would include Element-Skypoint-610 Franklin and all of the channelside projects..

Tampa's skyline is going to look tremendous..

Please city council we need this vote yes... I almost thought office space might go there, but I'll take another condo.

^ ^ rest assured, it is probably due to TBO.com compressing the file for posting on the web... No developer, and especially not the creator of the presentation, would release something of such poor resolution and bit rate.

The music is hella funny though... What is this, the intro composition to a courtroom/police TV drama set in Tampa?

Tonight is a HUGE night for City Council voting, lets keep our fingers crossed. I'm loving this tower, and I think due to its location and its contribitions to the area the developer is paying for, it will get approved. As far as design goes Venu is to the Finacial District/CBD as Place Phase 2 is to Channelside. :)

Anyone that watches any of the city council tonight, please give us some updates...

Great tower! Hope it gets approved and built.

Arrgghhh! I just learned that I must stay in Sarasota tonight, and will miss the city council meeting (I was going to phsyically go to it)... Man, I can't even watch it on TV!

Somebody pretty please keep us updated on this...

50-Story Condo Zoning Wins Approval
Posted Oct 26, 2006 at 10:03 AM
Updated Oct 26, 2006 at 05:29 PM



Artist’s RenderingBy THE TAMPA TRIBUNE

The developers of a proposed 50-story condominium on prime downtown land along the Hillsborough River won zoning approval today from the Tampa City Council.

The project’s developer, Gibraltar Development Corp., hopes to break ground next year and see the massive new project ready for occupancy in late 2009.

> Watch Video
> Tell Us What You Think

The building site is now occupied by an eight-story office building. The project site is less than a half-acre but sits at a prime location at the southwest corner of Ashley Drive and Kennedy Boulevard. It is just a few blocks away from the site of the Trump Tower Tampa project.

Named Venu, the slender glass tower the council approved Thursday will have 215 condo units.

A fact sheet on the project says residences would range from 900 to 4,000 square feet and unit prices would range between $400,000-plus to more than $3 million.

Plans call for 3,200 square feet of ground floor retail space and 10 floors of parking. When plans were submitted in April, they called for just two floors of parking.

Send Us Your Comments

This has got to get built now.

that is one beautiful building
it would look so hot in tampas skyline. Especially w/ all the uncertainty surrounding Trump Tower, I hope this one can get solid backing and break ground soon!

Kick Ass!

Awesome tower. Design wise, best Tampa--if not all of Florida--proposal right now.

50-Story Condo Zoning Wins Approval
Posted Oct 26, 2006 at 10:03 AM
Updated Oct 26, 2006 at 05:29 PM



Artist’s RenderingBy THE TAMPA TRIBUNE

The developers of a proposed 50-story condominium on prime downtown land along the Hillsborough River won zoning approval today from the Tampa City Council.

The project’s developer, Gibraltar Development Corp., hopes to break ground next year and see the massive new project ready for occupancy in late 2009.

> Watch Video
> Tell Us What You Think

The building site is now occupied by an eight-story office building. The project site is less than a half-acre but sits at a prime location at the southwest corner of Ashley Drive and Kennedy Boulevard. It is just a few blocks away from the site of the Trump Tower Tampa project.

Named Venu, the slender glass tower the council approved Thursday will have 215 condo units.

A fact sheet on the project says residences would range from 900 to 4,000 square feet and unit prices would range between $400,000-plus to more than $3 million.

Plans call for 3,200 square feet of ground floor retail space and 10 floors of parking. When plans were submitted in April, they called for just two floors of parking.

Send Us Your Comments

Thank you for the info.. You just made this whole forum very happy.. Thx Linda Saul Sena if you voted yes..

This just might be the best design in Florida.. I agree with that.

For all of those Trump doubters this is probably in hindsight good news for Trump. Many have said November Trump will start more progress..

Tampa by 2009 sitting on the Hillsborough River 2--50 stories.. We finally have arrived..

Any news on the other council votes??

If you take a look at the viewer comments regarding the approval of the tower on www.tbo.com, most of them are negative. Most of them mention the likely possibility that a hurricane could hit the Tampa Bay area (knock on wood). God for bid a hurricane were to hit downtown, it is likelythat downtown would be flooded, but the developers have taken that into account with the first 10 floors devoted to parking. This is a major step for Tampa. It's about time the downtown core got a new skyscraper.

Right, a hurricane would just slap knock a 50-story building down.

Some yahoo from Lutz, more likely.

I think that every project that was brought before the TCC was approved, I am not aware of any that were rejected. I think that there were something like 4 or 5 projects that were approved. Venu being the most impressive. What a building!

Article Link (http://www.tbo.com/news/money/MGBG9VKVRTE.html)

The Tampa Tribune

Published: Oct 27, 2006

The developer of a proposed 50-story condominium tower on prime downtown land won zoning approval for the project Thursday from the city council.

Gibraltar Development Corp. hopes to break ground next year and see the building ready for occupancy in late 2009.

The site, located along the Hillsborough River, is now occupied by an office building.

The site is less than a half-acre but sits at a prime location at the southwest corner of Ashley Drive and Kennedy Boulevard.

Named Venu, the slender glass tower the council approved Thursday is to have 215 condo units.

Residences would range from 900 to 4,000 square feet and unit prices would run from $400,000-plus to more than $3 million.

Plans call for 3,200 square feet of ground-floor retail space and 10 floors of parking.

The site is a short distance from the site of the Trump Tower Tampa project. Construction on the 52-story Trump project, which also is being built along the Hillsborough River, has been delayed while the developer seeks financing and addresses a foundation issue.

Reporter Ellen Gedalius contributed to this report.

Anyone know who the architects / designers of this building are? I'd be interested, as it just seems so much more innovative and original than anything else going on in Tampa right now - current or proposed.

Didn't realize that today's Tampa Trib's article is identical to yesterday's.

Here's the article link (http://www.tboblogs.com/index.php/newswire/comments/50_story_condo_possible_in_downtown_tampa/)from yesterday with tbo.com public comments.

Someone mentioned about the developer's poor video quality from a previous post. Believe me, it sounds much better than that from the Developer's source. They're not going to pay $20,000-$60,000 for a so-so virtual rendering. The muffled and poor quality sound is perhaps TBO.com's issue.

We'll see what happens in the near future....

alfonso architects are the architects of the building. they didi the new terminal at tampa int. airport.
that animation is pretty slick and as mentioned before i can guarantee that the quality both in video and audio quality was much better in the original source just have to size it down a lot for the web. i would bet that animation was close to 100k

heres a link to the buildings website:

http://www.venutampa.com/

Nice find! Cool looking pic of what it might look like at night.

Shouldn't of been a surprise it got approved. Nonetheless, I'm very happy that it did and with the project overall. It will/might increase density insanley on that little 1/2 acre site, kinda like in New York. :)

http://www.venutampa.com/Images/sidebar1.jpg

looks pretty good.

Website is a nice find - these guys look serious. Great news

I like this tower and hope it gets built looks like the best tower for tampa.

And bring some actual creativity to our skyline. NO I am not saying that others are not original, but I have not seen a building like this anywhere else.

Has anyone seen the lobby of the Park Tower "Colonial Bank"? There is a poster for Venu. I did not have time to stop, but it is in the same place as the Skypoint sales center.

No! I drove by today and was more interested in a neon sign attached to the facade of a smaller building across the street.... I hadn't noticed it before today.

I'll have to take a camera and walk around soon anyway, so I'll stop to look. Thanks for the heads up.

I think it shows a view from the Kennedy Bridge.

That tower looks awesome!

that is one awesome bldg. very nice. very kinetic. more radical than ESP; similarly edgy; also elements of Four Seasons. great lighting. has elements of some Times Square towers.

question is this: in today's marketplace, what's the probability they will sell enough units? how are the other neighboring projects doing sales-wise?

I just hope it gets built. I think that it would be a shame if it is shelved.

it's projects like these that really need to get built. I felt the same way about Hillsborough River Tower. Imagine if this and that bldg. were built...

I can think of a few Orlando projects that I could do without, and a few that I think are MUST projects. THis is a MUST project. Believe it or not, the entire region would benefit aesthetically from this getting built.

Agreed. So it probably will become a surface parking lot . . .

I NEED A PIC OF THE FUTURE SKYLINE, ANYONE PLEASE MAKE ONE WITH ALL OF THE NEW APPROVED AND UNDER CONSTRUCTION BUILDINGS!

Agreed. So it probably will become a surface parking lot . . .


^ This is why they call him smiley.

Does anyone know when the current building on the site will be removed?

Some time early next year.

Once this is built, wouldnt it block the view of the Bank of America tower from a west (?) view?

partly but it is going to be slimmer than the BOA tower.

Agreed. So it probably will become a surface parking lot . . .

The plight of all too many historic buildings and promising developments alike. Nothing pisses me off more than seeing that dirt lot where the Maas Brothers building once stood. We took a local landmark and reduced it to nothing.

I sincerely hope the Venu project fares better. Maybe, while they are at it they can remove the garrish red sign from the top of the BOfA beer can.

SO this is really going to happen! Groundbreaking this year! Woo-Hoo!!!

SO this is really going to happen! Groundbreaking this year! Woo-Hoo!!!

Where did you see that? I wonder how they'll tear down the building on the site. Its surrounded by important roads, the Sheraton, and the river.

Where did you see that? I wonder how they'll tear down the building on the site. Its surrounded by important roads, the Sheraton, and the river.
They'll probably close the streets, telling the people weeks in advance. Put some kind of fence up to block anything going into the river and the Sheraton will probably just block off the windows and the side and move some of the residents or prevent people from buying rooms on the day of the demolition.

I see explosions!!!!

Explosions?

:nuts:

They'll probably close the streets, telling the people weeks in advance. Put some kind of fence up to block anything going into the river and the Sheraton will probably just block off the windows and the side and move some of the residents or prevent people from buying rooms on the day of the demolition.

I see explosions!!!!

It will probaly just get a wrecking ball so stuff doesn't fly everywhere and the fact that it is only a 7 story building on a very small piece of land.

It will probaly just get a wrecking ball so stuff doesn't fly everywhere and the fact that it is only a 7 story building on a very small piece of land.
I know, I was just joking :D

Yeah, they'll probably use a wrecking ball and then just tear the rest down.

I would think that they are going to take the building down like they took down Maas.

The plight of all too many historic buildings and promising developments alike. Nothing pisses me off more than seeing that dirt lot where the Maas Brothers building once stood. We took a local landmark and reduced it to nothing.

I sincerely hope the Venu project fares better. Maybe, while they are at it they can remove the garrish red sign from the top of the BOfA beer can.

While I agree with you about the Maas building, the building at the corner of Kennedy and Ashley is a dump. Good riddance. That being said, they better be positively sure that once the rubble is clear they'll be driving piles into the ground. There are plenty of surface parking lots in Tampa, we don't need one more.

Anyone think the Sheraton will remain at that location? With the two grand daddy hotels closer to the convention center and it's small size and age, I can't see it being around much longer.

While I agree with you about the Maas building, the building at the corner of Kennedy and Ashley is a dump. Good riddance. That being said, they better be positively sure that once the rubble is clear they'll be driving piles into the ground. There are plenty of surface parking lots in Tampa, we don't need one more.

Anyone think the Sheraton will remain at that location? With the two grand daddy hotels closer to the convention center and it's small size and age, I can't see it being around much longer.

They won't move. Right on the waterfront plus the fact they just bought it from Radisson and had one of the largest and most expensive rennovations in Downtown Tampa. And if the Riverwalk ever gets built that's another plus for sheraton staying.

And as far as the future Venu site if Venu isn't built, I would think the city would buy it and turn it into a park. Or sell it for another hotel or Office. The land is too prime not to get anything. And welcome emoore625.:)

I hope it isn't a park either. If we're going to put more parks in, go to the interior of downtown and buy up those parking lots, close in the streets and have a BIG park. Little parks here and there usually get forgotten and left for dead.

Thanks for the warm welcome. I'm a long time looker, first time poster. Lived in Tampa since '87, TC grad, Miami alum, USF Student and new Ybor resident.

They won't move. Right on the waterfront plus the fact they just bought it from Radisson and had one of the largest and most expensive rennovations in Downtown Tampa. And if the Riverwalk ever gets built that's another plus for sheraton staying.

. . . The land is too prime not to get anything. And welcome emoore625.:)

I second your points, FF. And yes, welcome aboard, emoore625. :cheers2:

I hope it isn't a park either. If we're going to put more parks in, go to the interior of downtown and buy up those parking lots, close in the streets and have a BIG park. Little parks here and there usually get forgotten and left for dead.

Fully agreed... I'm personally incensed that the city is letting Central Park's redevelopment be master planned without a 'central park' worthy of having a downtown neighborhood named after it. The piecemeal, piddly ass parks the city keeps building suck.

We all know that such a project would have a price tag to make any self-minded taxpayer to gasp in horror. However, the problem isn't that the city isn't building a proper park for downtown and its neighborhoods, its that the city has gone to tremendous lengths to develop a riverwalk, while not even bothering to address the obvious need for a large park/public gathering space downtown... I mean, forget doing it for now, we can't even talk about it.

Well, while it is not particularly good - i think riverfront/curtis hixon park is supposed to fill that bill - especially if they remove the museum and integrate that land a bit.

There is also the park down by the Marriott.

There should probably be a bigger one, but where - just north of the crosstown on one of those parking lots would be ok, but you would like to surround big park with developable land to frame it with tall buildings (much like gaslight)

I don't mind the little parks - they need more. Sure a lot better than surface parking and use up some lots to make others go higher. THey just need good framing with either water or towers - if so, they can be very nice (along with real tree - try a maple or two to get some color)

In the new duPont Registery Tampa Bay Magazine they have a sizeable paragraph about Venu with some new info. I can't type out the whole thing now but I will post the main and new points.


215 units prices range from $400,000-$3,000,000, and size 900 to 4000 square feet


Will have a lobby chandiler by Dale Chihuhly, along with 1000 sq ft. gallery

Construction to begin Mid '07

Will build portion of riverwalk along with 3200 sq. feet of retail

Again this is from the dupont Registery Tampa Bay Magazine.

First Chihuly in St Pete, now he'll have a small gallery in Tampa too?

prices starting out at $444 per sq. ft ($400,000 for 900 sq. ft). That is on the high end of cost.

If the magazine is right about Chihuly, it's great news indeed. Although it may have helped anchor a new art museum. It's good they still see ambitious about a mid '07 construction date but i don't see it, unless their definition of construction is different then ours. Great project though. :)

If the magazine is right about Chihuly, it's great news indeed. Although it may have helped anchor a new art museum. It's good they still see ambitious about a mid '07 construction date but i don't see it, unless their definition of construction is different then ours. Great project though. :)
I think that they mean by construction is the ground work. Because if they want to go vertical, they will have to demolish the building there, months of setting a foundation and being careful near the river, and you don't know, they might have a problem at the site. I doubt a Mid 07 construction aswell.

Let me play the eternal optimist and suggest why I think Venu will take shape here in Tampa.

First, Wilson-Miller is behind this project and they seem to have a lot of pull in our community. Just ask the city council. :)

Secondly, the Gibraltar Development Corporation is respected worldwide. They have offices here in N. America, London and Madrid just to name a few. They're no "fly by night" corporation and they have been around for a while... I see this as a plus for this project to proceed.

Finally, they will only have 215 units for sale... With their ability to advertise worldwide, I don't see securing deposits for a home in Tampa as a problem for them. Hell, half of the residents will probably come from overseas...

I give Venu a better than 50/50 shot of going vertical... which is more than I can say about some of the other projects locally. I really hope that the Venu tower becomes a reality here in Tampa. Personally, I believe it will have more of an impact then the Trump tower.

It is truly a stunning project; but like many of you I am skeptical about the ground-breaking date.

I've got to admit this seems like one of the more serious projects despite being relatively new. As of now I'd have to say this one will get built eventually, especially if the market comes back. With that video Gibraltar shows somewhat of a commitment in my mind. Lets just hope it doesn't become a Hillsborough River Tower or a Tampa Bay 1 type deal.

This really is a wonderful project.

It will help downtown in more than one way by adding more residents, contributing to the riverwalk experience, and more retail. plus, it is a very attractive building.

my fingers are crossed for this one.

Venu is a outstanding building and will go up for sure, I have my soul bet on that. But the date they threw out there is a close dream for them I say we see Venu going vertical by November

Now when they said construction mid '07, for them that could, and probably does, just mean the demo of that office building. I think vertical late '07 to early '08 sounds about right. It is futile to predict these things though. Venu is the best project in Tampa, and I'd go out and say the best of the bay area too.

Looks great, wonder if this development group will bother adding green elements? The circled openings at the top of the building, though probably for the spotlights remind of the new COR building slated for DT Miami (http://inhabitat.com/2006/12/11/new-green-tower-in-miami-the-cor-building/)
They could add some wind turbines pretty easily!!! I also like how the lower floors somewhat look like the facade of the current building on the site, or is it just me?

Plus the 400K starting price always pisses me off! I know this is an expensive building, but wasn't the low starting price point the main reason Skypoint has been such a success? But I'm sure this building would be worth it, more than the trump tower.

Now when they said construction mid '07, for them that could, and probably does, just mean the demo of that office building. I think vertical late '07 to early '08 sounds about right. It is futile to predict these things though. Venu is the best project in Tampa, and I'd go out and say the best of the bay area too.

I'd say it's one of the five best in the state and the best outside of Miami.

I'd say it's one of the five best in the state and the best outside of Miami.
So, I'm guessing the other 4 are in Miami? :D

So, I'm guessing the other 4 are in Miami? :D

I'd say so. :lol:

I'd say so. :lol:
I see my Math skills are going good today, thank goodness!

I must disagree with you. With you making the Signature thread I must say that Venu and Signature are probably the best towers outside of Miami and 2 out of 10 in the state

Jax has that 700' St. Johns tower too right? That one has to be up there too, along with Place Phase 2. Of course Miami has the vast majority though.

Jax has that 700' St. Johns tower too right? That one has to be up there too, along with Place Phase 2. Of course Miami has the vast majority though.
ofcourse Miami has the majority of nice skyscrapers. I like a lot of them.

Place Phase 2 is another one I love in Tampa. I also love any of the Novare towers. I won't be surprise if TWELVE becomes my 2nd love after Venu though. St Johns is another great masterpiece. There is another one in Jax that I like too, but can't remember the name of it.

I like the Tampa Towers design (both before and after) if they ever get off the ground.

http://http://img48.imageshack.us/img48/7825/image002pd5.th.jpg (http://img48.imageshack.us/my.php?image=image002pd5.jpg)

The vast majority of Miami's new towers range from bland to elegant, with few being truly distinctive, IMO. Venu ranks with the state's best.

I like the Tampa Towers design (both before and after) if they ever get off the ground.

Agreed

In regards to Venu I have been a fan of this project since I saw the first rendering. Due to its design and uniquely small footprint I think it will be a terrific addition to our skyline.

I never liked the Tampa Towers design, but I think Venu is beautiful. I really hope it makes it. Every time I drive by I try to picture how it's going to fit on the site, uniquely small is right!

Isn't the developer behind Venu the same one who purchased (or has the option to purchase) the land surrounding the upper Ybor Chanel across from the failed Tampa Technology Tower or whatever it was called?

Isn't the developer behind Venu the same one who purchased (or has the option to purchase) the land surrounding the upper Ybor Chanel across from the failed Tampa Technology Tower or whatever it was called?

I'm pretty sure it is the architect that designed Venu is designing the project you speak of, not the developer of Venu developing the project.

I read it was Mirabellis who purchased the property I understood.

Jumped the gun...NOT Mirabellis but Gibraltar.

http://www.gibraltarcorp.com/venu.html

AWESOME!!! I am pretty sure this was the video that we all saw a few months ago, but in better quality. Thanks FlaNatv!

MUCH better quality. That's HOT.

I read somewhere that demo was starting before the end of the year, but I would think that they should convert a few floors to office. I know they have a gallery planned, but I want more in the way of office.

It would be nice to hear how sales are going if they have started yet. The units are expensive, but if the developer is markeding worldwide it has a better chance. The gallery would be a Chihuly gallery.

That is one sweet video. Not sure if you can go by the video for height because they would want to make the Venu stand out, but it is clearly the tallest tower in the video. I also really like the river interaction they show, with the cafe on the water they will have. Too bad it has to be by a bridge.

Yea, you can see a Chihuly work in the atrium on Ashley. They even went so far as to include the usual banner on the side of Park Tower... The video makes a point to say that it's the tallest in the city, so it should be near 600'.

Well, I certainly can't wait until construction starts on Venu. The people who will own the top floor rooms are going to be very lucky, even if the price is just alittle expensive.

This must be built.

I say again: this must be built.

This is a brilliant building minus the weird sides with the skinny windows... But It is a marvelous building and I look forward to seeing it in the Skyline as well as an excellent entry building/light house as the Sykes (Beercan) Building is aswell.

Venu is the dream building for Tampa. It has no problems... unfortunately that makes for a boring discussion on this site.

This must be built.

I say again: this must be built.
I agree its the best building in Tampa, its funny how they only use Volkswagen and Audi cars as models in the video! :nuts: But that would definetly become the landmark of the Bay Area.

And I drive a VW! On a serious note though, What do you all think the chances of this getting built are?

75%

Optimism I love it.

I give it 40%... For some reason, the failure of TTT doesn't lead me to believe that there will suddenly be a swell of high-end buyers on the market. I tend to think the contrary will occur.

I think that we will have to wait until the next real estate boom happens and god knows when that will happen.

50%... Enough to say it has a chance due to all the publicity and the apparent seriousness of the developers, but not too confident seeing as how the market is in its last throes. It's a toss up at this point...

I work in wealth management, and according to studies I've seen, households with assets of more than $2 million are moving to Tampa Bay increasing their numbers by up to 13% year over year. So I'm hopeful.

I give it 40%... For some reason, the failure of TTT doesn't lead me to believe that there will suddenly be a swell of high-end buyers on the market. I tend to think the contrary will occur.

I was under the impression that TTT failed because of management, not because of poor sales. If the courts let TTT depositors skip out that will be a great boost for Venu.

That is true jonknee. I think that it would be a blow to the ego and wallets of TTT if buyers went to Venu.

I think that it would be a blow to the ego and wallets of TTT if buyers went to Venu.

But a great boost for Tampa. Venu is class.

I know and it actually looks like it will belong in our skyline, unlike TTT.

That logic isn't sound. I'm almost certain buyers pulling out of Trump will want little to do with Venu... perhaps one or two... but why tie up money in this depressed market on a speculative project? That's what people were doing with Trump. And those who actually wanted to live in a luxury tower are perhaps so frustrated that I doubt they'll all run down river to invest in ANOTHER proposed project.

I was under the impression that TTT failed because of management, not because of poor sales. If the courts let TTT depositors skip out that will be a great boost for Venu.
I believe that many of the buyers were investors, who are out of the market now (plus, they're still tied to TTT, because it isn't officially dead sfaik)... And with the real estate market sluggish, that isn't exactly the best time for homeowners to put even more of their eggs in a single basket by buying a pricey condo... Especially with the stock market doing well... That means there is even less money to invest in real estate.


I think that by and large, wealthier buyers are taking a step back from the market right now and are looking more at investments like stocks and bonds to put their money into. The failure of the Four Seasons, O2, TTC, the yet-to-be Blue. I think it should be pretty clear by now that the perception of risk is too great, especially on the high end... There simply isn't enough of a nieghborhood built up in DT Tampa to convince higher end buyers to pay full pop, and developers aren't discounting for the 'pioneer factor' (largely because they can't)... I think that projects hitting the same kind of dollars per square foot as projects already completed or underway will continue to sell, but any appreciable increase in that will be met with significant resistance from buyers.

Well we will have to see how it plays out.

Older buildings make way for new towers

http://cll.bizjournals.com/story_image/82668-400-0.jpg?rev=2
Mercantile latest to be marked for demolition

Tampa Bay Business Journal - May 18, 2007

by Carl Cronan Real estate editor

TAMPA -- The eight-story Mercantile Bank Plaza building, at one of downtown Tampa's most heavily traveled intersections, appears out of place among the office towers that have risen around it over the last three decades.

That's subject to change, possibly in the latter half of this year.


The building's owner, Gibraltar Development Corp., has notified its few remaining tenants that they should move out this summer and it isn't signing any new leases in the 43-year-old building at the southwest corner of Ashley Drive and Kennedy Boulevard. Office brokers had been signing tenants to short-term leases there since the building changed hands last year.

Gibraltar, based in Clearwater, plans to build a 50-story residential condominium tower called Venu on the building's small corner lot. The ultramodern skyscraper designed by Alfonso Architects Inc. will contain 215 units priced from the $400,000 range to more than $3 million each, according to its Web site, venutampa.com.

Although completion of Venu was previously slated for late 2009, no specific timelines for building demolition or the start of construction have been determined, said Gibraltar VP Michael J. Scarfia Jr.

"The remaining tenants in the existing Mercantile Bank building are being vacated by July 31," Scarfia stated in an e-mail earlier this month. He promotes Venu as "Tampa's most luxurious waterfront address at the gateway to downtown."

Venu's height would ultimately exceed the Bank of America Plaza, Park Tower and Rivergate Tower on facing corners, and dwarf the Sheraton Tampa Riverwalk Hotel next door. For now, it's another coming-soon site in Tampa's evolving central business district.

Its primary tenant, Mercantile Bank, has already moved its offices into two other locations along West Kennedy Boulevard. The Krauss Organization, the building's leasing agency, took down its sign last month, and Venu will soon open its sales center in the top floor, overlooking the Hillsborough River and the University of Tampa.

Gibraltar bought the 68,467-square-foot building, featuring a popular riverside plaza, for $9 million last June under the name Museum Towers LP, according to Hillsborough County property records. Its previous owner, George Lorton, held it for only a year after paying $4.2 million in June 2005.

Downtown observers are skeptical the stout old building will be replaced with a gleaming condo tower, given the struggling residential market and continued difficulty getting Trump Tower Tampa out of the ground at the south end of Ashley Drive.

http://www.bizjournals.com/tampabay/stories/2007/05/21/focus1.html?b=1179720000%5E1463495

Wow, George Lorton made out like a bandit. He could almost buy two penthouses with that return.

Venu's height would ultimately exceed the Bank of America Plaza, Park Tower and Rivergate Tower

Well unless it is a single foot shorter or the same height as Amsouth, then this will be our tallest if/when built.

Downtown observers are skeptical the stout old building will be replaced with a gleaming condo tower, given the struggling residential market and continued difficulty getting Trump Tower Tampa out of the ground at the south end of Ashley Drive.

Sounds like the TTT skeptics here aren't alone... Either that, or Mr Cronan reads SSC... I'm going to have to say it's the former. :)

I think that Venu should not waste its time and niether should Trump. Convert the designs to office space and be done with it. Also they should keep LEED in mind.

Trump is gone it can stay gone for all i care but Venu needs to be built!!!

I agree! I think that it will be a major plus for the area as far as asthetics are concerned not to mention a hell of a cluster starting.

While I too love the design of this building and think it has a better shot than TTT ever did, I can't help but be skeptical. In the article the author mentions "For now, it's another coming-soon site in Tampa's evolving central business district.". Unfortunately I feel that the evolution he is talking about is one away from "Business". The tenants in the Mercantile building will probably move to offices somewhere else in the city, as I doubt that the remaining office space downtown would be comparable in price to what they were presently paying. So yes we also need to build more office space downtown or work harder to keep the businesses we have there and recruit more to any vacancies.

^From what I gather, DT vacancies have been firming up some lately... But that's mostly because Westshore is very solid, with occupancy rates well into the 90s.

Emporis has a few new renderings of venu that I've never seen. :cheers:

http://www.emporis.com/en/il/pc/?id=270411&aid=8

Yea, that'll look nice from the street - nothing like 10 blank floors of cement
http://www.emporis.com/files/transfer/6/2007/05/538244.jpg

My position has soured in that I don't think it will see the light of day any longer. After the Trump debacle, I just don't see any of the luxury condos coming out of the ground anytime soon. :(

Unfortunately I'm going to side with Q on this one. I only hope the developers hold off on demolishing the old Mercantile Bank building until they're damn sure they're ready to build the thing. Mercantile may not be a wonderful building but it looks better than an empty weed-choked parking lot...

I think it would be best if they tore the Mercantile building down, then used it as surface parking for 10 years until the market improves, then possibly bring this one up again. - Oh wait, just kidding.

I'd love for Tampa to get at least one distinctive highrise out of this boom.

That intersection there at Kennedy and Ashley would be pretty impressive if venu got built. Four of our talls on every corner...

I saw a billboard for this tower today on SB I275 so the project must be active still

When I was at Malio's this weekend I couldn't help but think how nice it would be to have Venu built (it would be right across the street). Especially if it featured a restaurant of some sort facing the river.

Tenants are supposed to be out of Mercantile building by the end of July. So I guess that will be the next step.

I recieved this e-mail last week regarding Venu.

Dear Joshua,

As a Venu VIP, I am extending you an invitation for a private presentation at the Venu Sales Gallery!
To schedule your appointment call me at 813-579-7433.
Be among the first to see what Venu offers in downtown living!


Jayme Lowe
Venu Sales Manager
Live Dramatically.
Downtown Tampa, Florida
cell: 813-579-7433

I saw a billboard for this tower today on SB I275 so the project must be active still

The show room is in the base of the Park Tower on the Tampa St. Side I think.
I don't know if its open yet, but you can see the pictures on the window.

Their showroom is in the Mercantile Bank building that is set to be demolished after sales of Venu are completed.

Oh I walk by the Park Tower everday and see the pictures and I figured that was going to be the show room.

I was going to, but they decided to hold off on the demo of the building because of the slowing residential market, although all of the tenants are gone they still are not going to demo it in the near future, to the best of my knowledge.

Hopefully they can renovate some of the lower floors for office and get this baby off the ground. It's a beautiful tower that could totally change the attitude of Tampa architecture.

One thing to be said, that Sheraton next door will not be long for this world next to Venu. It already looks out of place.

I was going to, but they decided to hold off on the demo of the building because of the slowing residential market, although all of the tenants are gone they still are not going to demo it in the near future, to the best of my knowledge.

Uh-oh. Bad omen.

@Emoore625 The Sheraton downtown is not going to be going anywhere for quite a while, because they just did a renovation when they took it over from Radisson.

@Dale This is not a bad omen. It is just a precautionary measure, one that I wish Wood had done with 610. They are not going to demolish a perfectly good building if they have not had the sales to warrent the building to be torn down.

Well, I'm glad that they're not going to demolish a building while lacking sales. I was just commenting on the lack of sales. *That's* the (possibly) bad omen I'm talking about.

Well I know that the company that is pushing for this project is marketing it world-wide. I think that they would have a little bit more knowledge on what is good for the site and that is not to demolish it right now. I do not know how it is fairing overseas, but I would really love to know if it is also being marketed in the states.

And in reality it doesn't take very long to demolish a building, so it doesn't hurt anything to have it sit there while they build up sales.

Where in Park Tower is the Venu stuff? That's the building where the new USPS office is going, so I don't think there is any open space on the ground level.

No, it is right next to FedEx/Kinkos. On the East side of the tower.

Maybe I missed this before (and I apologize if I have0 but has anyone seen thsi computer animation on the Venu @ Tampa web site?

http://www.gibraltarcorp.com/venu.html

^Yeah that's been posted in the past, but thanks for posting it to remind me how much I want Venu built. :D

Maybe I'll check out the sales center on the Home Tour.

How certaint are we that this is going to be built?
Given the current condo market in all.

As certain as the sun rising in the west and setting in the east.

It does! Just watch the video! See for yourself! ;-)

How certaint are we that this is going to be built?
Given the current condo market in all.
Certain as I can be. :)

Well, seeing all the smaller developments like West Tampa redevelopment go awry I'm not so sure that this will happen.
I'll remain optimistic with you guys though.

I too remain optimistic as I think this project would bring some much needed variety into our skyline and downtown community.

I think that with TTT dying off, there's a chance, but it's pretty slim pickings right now... There is plenty of existing/upcoming inventory at good prices as it is.

I'm interested in what they have to say at the urban homes tour.

I'm really pulling for this one. It could well define the Tampa skyline. It would be a worthy icon.

I agree in that regard... Unlike TTT, I will be majorly disappointed if this doesn't get built.

I won't be MAJORLY disappointed, but but this project is better than TTT. IT fits the skyline in a similar but unique way.

BTW - was going through some renderings on the other forum last night, something proposed to be built out in LA (as part of LA Live) reminded me of Venu... or at least one of the older renderings.

And if TTT is built, then I daresay Venu would serve as a nice foil.

I will say one thing... That would be quite a dense cluster of 400ft+ buildings the DT core would have if TTT and Venu (and even HRT) are ever built...

btw, I'm also hopeful that when the Maas Block comes back to life, we may see something taller and less bulky there. I think it's important to ensure that there continues to be decent light penetration onto the Franklin St corridor.

Venu would bring the kind of density we should try to achieve all over downtown if it was built. That intersection would be four corners of towers at least 450 feet tall. I'm not sure if any other city in the state could claim that kind of density (height) at a all four corners of an intersection, though Miami would be there eventually if it isn't already.

^One Miami will take care of that if Miami doesn't already have such a corner.

If anyone is interested in saving that Venu video, just right click the link below and save as. Its just over 38MB.

https://secure.particleweb.com/clientsandboxes/5/40022/images/VENU_movie.wmv

Venu would bring the kind of density we should try to achieve all over downtown if it was built. That intersection would be four corners of towers at least 450 feet tall. I'm not sure if any other city in the state could claim that kind of density (height) at a all four corners of an intersection, though Miami would be there eventually if it isn't already.

Reminds me of what they call, "The Heaviest Corner" in downtown Birmingham, AL only in a modern context.


Heaviest Corner on Earth
From Wikipedia, the free encyclopedia

The Heaviest Corner on Earth is a promotional name given to the corner of 20th Street and 1st Avenue North in Birmingham, Alabama, USA, in the early 20th century. The name reflected the nearly-simultaneous appearance of four of the tallest buildings in the South, the 10-story Woodward Building (1902), 16-story Brown Marx Building (1906), 16-story Empire Building (1909), and the 21-story American Trust and Savings Bank Building (1912).

The announcement of the latter building was made in the Jemison Magazine in a January 1911 article titled "Birmingham to Have the Heaviest Corner in the South". Over the years, that claim was inflated to the improbable "Heaviest Corner on Earth", which remains a popular name for the grouping.

A marker, erected on May 23, 1985 by the Birmingham Historical Society, with cooperation from Operation New Birmingham, stands on the sidewalk outside the Empire Building describing the group. The "Heaviest Corner on Earth" was added to the National Register of Historic Places on August 11, 1985.

^Cool.

Those four buildings really dominate their surroundings. If Tampa had a heaviest corner with Venu it wouldn't be relly dominant as far as height but more as density.

Here are a couple pictures I found of it. As you can see the buildings on those four corners dominate the area:

http://i121.photobucket.com/albums/o236/JordanA_015/Heaviest_corner.jpg

And a postcard
http://i121.photobucket.com/albums/o236/JordanA_015/4_heaviest_corners.jpg

I'm just thinking with the arcitectual diversity of Venu, Park Tower, BoA, and the Beercan could really make downtown Tampa's "heaviest corner" look pretty cool. :yes:

Link for pics (http://www.bhamwiki.com/wiki/index.php?title=Heaviest_Corner_on_Earth)

Gotta love those canyon shots however small...

some old, some new:

http://www.alfonsoarchitects.com/images-residential/01/01-02.jpg

http://www.alfonsoarchitects.com/images-residential/01/01-04.jpg

http://www.alfonsoarchitects.com/images-residential/01/01-05.jpg

http://www.alfonsoarchitects.com/images-residential/01/01-06.jpg

Great pics. They made Skypoint the wrong color in the last one though. I still love the overall design, but the street side is a little ugly IMO... too much stone/concrete (whatever the build material is).

Steve

Perhaps its the compression on the pictures, but it looks like the building got a little more "fat" (lack of a better term). The proportions on it seem to be little off. Overall it seems the idea is there but that third photo is atrocious, just too much precast.

Uh-oh. Doesn't look like a new tallest in those pics.

I don't think anything changed. The floor count is right around 50 as best I can tell in all of the renderings shown

Perhaps its the compression on the pictures, but it looks like the building got a little more "fat" (lack of a better term). The proportions on it seem to be little off. Overall it seems the idea is there but that third photo is atrocious, just too much precast.

I agree - I think that is a very bad angle. Luckily if Venu ever gets built, that angle will only be seen by helicoptor or the Goodyear blimp unless they knock down the Tampa Bay Performing Arts Center and replace it with the Burj Dubai.

How about knocking down the Park Tower?
I really like this building, its really neat. Thats crazy we actually might have a skyscraper on every corner of that street

I agree - I think that is a very bad angle. Luckily if Venu ever gets built, that angle will only be seen by helicoptor or the Goodyear blimp unless they knock down the Tampa Bay Performing Arts Center and replace it with the Burj Dubai.


I heard they were going to do just that....but then the FAA stepped in.:nuts:

Steve

Yeah the third rendering makes it look wider then that site actually is I think.

The overall architecture reminds me of Del Villar. Is it the same architect?

The best angles looking at this project are definitley from the south.

Uh-oh. Doesn't look like a new tallest in those pics.

I don't think it was ever confirmed to be the city's tallest, because I don't think we ever got an official height on this project.

Maybe to fool the FAA. It could turn out to be taller than the Regions Tower.

Yeah the third rendering makes it look wider then that site actually is I think.

The overall architecture reminds me of Del Villar. Is it the same architect?

The best angles looking at this project are definitley from the south.



I don't think it was ever confirmed to be the city's tallest, because I don't think we ever got an official height on this project.

At 50 floors, I'm guessing it will at least be 550-575' tall.

Anyone heard anything new about this project? I noticed weeks ago they have gates covering the parking below the exsiting building there, so it seems all of those tenants have moved out. I would love to see this go, but with the housing market as it is, who knows....

^ Those gates have been up for quite a while...a few months.

Bad news on Venu. I just recieved a email from the developer saying that the project is on hold until the market is in better shape. So it looks like the housing slump strikes again. I also got news on the Channelside project from the same developer saying that it is under zoning approval.

^They're pretty much all on hold bro.

^They're pretty much all on hold bro.

The BLVD seems to be active. There were trucks putting materials on the site this morning.
West End is u/c... FAST.

^That's a surprise. If any of the projects were dead I thought it'd be the Wood Partner ones.

Blvd got changed to apartment, I think. We are not going to get too many condos - but apartments are a good possibility - with rates so low - as well as hotels

Please forgive my ignorance, but which project is the "BLVD?"

Steve

^8 story, full block condo project off Kennedy just east of North Blvd. Yes, it's rentals now.


The BLVD seems to be active. There were trucks putting materials on the site this morning.
West End is u/c... FAST.
That isn't dt though.

Well at least they didn't tear down the current building. Not that it is a great one, but it can still be rented out if this project crashes.

Wish they did... LOL That building sucks balls.

Actually, I'm really fond of it and I'm glad it's still there.

I prefer Venu, but I'm glad we've got something there instead of a lot of weeds. It's a well-enough designed building, though I would admit that it's outlived it's usefulness considering it's scale.

Whoever calls for buildings to be torn down with so many surface lots in Tampa is simply repeating all the wonderful decisions that have made downtown the raging party place that it is today.

I don't think the current building is that bad either. It makes great use of it's lot (Under building parking, connectivity to bridge and sidewalk, and plenty of outdoor balcony/patio area) considering when it was built (late 60s early 70s). This was probably one of the first modernized blocks along the river. Yes, Venu would have been a nice addition, but we need more usable and used office space downtown.

I don't know where the rest of the story is no the on line edition of the Business Journal but the below story continues in the print edition and says there is a hotel planned by Alfonso Architects on the corner of Ashley and Kennedy which would be the same site where Venu was planned. Maybe someone can scna and attach or if you have a contact at Alfonso, confirm?

Friday, July 25, 2008
Hotel pipeline still full, oversupply could threaten occupancy ratesTampa Bay Business Journal - by Larry Halstead Staff Writer
Print Email Reprints RSS Feeds Add to Del.icio.us Digg This Related News
Arts biz carrying weight [Tampa Bay]
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TAMPA -- Despite the current economic slump, new hotel supply continues to come online in Hillsborough County. Demand is not keeping pace and hotel occupancy is slipping downward, according to a report that Lou Plasencia, CEO of the Plasencia Group Inc., made to the Hillsborough County Hotel & Motel Association Tuesday.

Plasencia predicts the worst of the slump is over and that the economy will slowly begin to right itself through the first half of 2009. In that time frame, demand will slow through next year but then will pick up as the economy strengthens.

The hotel pipeline in Tampa is full of projects that, if completed, will enter the marketplace within the next two years.

In the Westshore area, a 280-room hotel is set to break ground within the next few months at the MetWest project on Boy Scout Boulevard, an Element Hotel is scheduled for construction on Boy Scout next to the Synovus Bank and on Laurel Street, behind Avion Park, a select service hotel is being planned.

Venu was approved and is on hold isn't it?

Venu was approved and is on hold isn't it?
Yes, according to the email from the man in charge, they have put the project on hold due to the current market.

unaware of this though. Maybe a editorial mistake? Hopefully.....

Maybe they're talking about buying the old crappy skyscraper!!?!? And Demo'ing it?!? Lol, jk... I bet its a typo or something.

Yes, Venu is approved and on hold but the print edition specified the corner of Ashley and Kennedy. Being there are three towers on the other corners, this would be the only logical site where Venu is suppose to eventually be built. Maybe the original developer of Venu decided to change to a hotel due to market conditions???
Does anyone know someone at Alfonso Architects they could check with?

Yes, Venu is approved and on hold but the print edition specified the corner of Ashley and Kennedy. Being there are three towers on the other corners, this would be the only logical site where Venu is suppose to eventually be built. Maybe the original developer of Venu decided to change to a hotel due to market conditions???
Does anyone know someone at Alfonso Architects they could check with?
They do have a email address. I'll email them later and see what's up.

I have the print article and it DOES include an ALOFT Hotel being designed by Alfonso Architects. I Googled this brand and it falls under the SPG (Starwood Preferred Guests) brand, specifically a "W inspired hotel".
I went to the site and there is nothing listed as of yet in Tampa but they seem to be developing multiple properties in the state and across the country.
Should be interesting what will come out of Alfonso Architects once they complete their design. Maybe we will hear an announcement then?

You know, there are towers (3) on each of the corners with the exception of the Venu site. Maybe they are looking into converting the building that is there into this hotel brand OR it could be the cube building on the Rivergate Tower site where the Art Museum was thinking of taking space???

I have the print article and it DOES include an ALOFT Hotel being designed by Alfonso Architects. I Googled this brand and it falls under the SPG (Starwood Preferred Guests) brand, specifically a "W inspired hotel".
I went to the site and there is nothing listed as of yet in Tampa but they seem to be developing multiple properties in the state and across the country.
Should be interesting what will come out of Alfonso Architects once they complete their design. Maybe we will hear an announcement then?

Bingo. The Sheraton Riverwalk is just behind the old tower there. Sheraton hotels are part of the Starwood Group. I would bank they are re-branding or remodeling the Sheraton.

Steve

The Sheraton has been completely redone within the past couple of years.

Was just going to say that... to the tune of several million bucks too...

All I'll say about it is I hope the new proposal is as notably attractive, tall and dense as Venu was. Otherwise, I would just as soon see the lot used to provide access to the Riverwalk with some sort of interesting stair/landing/waterfall feature, which has 1-2 floors worth of shops and cafes lining the south side of the site.

They actually just repainted the Sheraton in the past few weeks. They've also been doing a lot of work to the parking area too.

Hmm, interesting then. Perhaps it is just a re-brand? But then since Alfonso was the architects involved with VENU too it does make one wonder if they have been asked to change the design for a hotel. It would be interesting if they did build a hotel there since that group (Starwood) already has the Sheraton and Westin in the DT area (with the Sheraton right next door). From the looks of the other ALOFT hotels this would either be the tallest one or it will be scaled down from VENU's height.

Steve

I thought the same thing. Since there is so much talk of new convention hotels in downtown, this should seem like a logical step for them since they already own the Sheraton site and they could combine/market both sites under their SPG reservations system. Both properties fronting the water and the Riverwalk should make it an interesting project (if indeed, it is announced as such). They would have the river, the waterfront views to UT, and the proximity to the convention center as an additional bonus...not to mention being in the heart of the business district.

:deadthrea:old:

I know this is old and probably dead, but I just feel like this would of bee a beautiful tower in tampa...

Tampa just got hit HARD by the highrise bust. Out of the dozen of more highrises that were planned ... well, let's put it this way: thank God for Novare!

For giving us cookie cutter condos in downtown? I mean yeah its something but thankfully Channelside grew and St. Pete got a few quality highrises.

TWELVE would had been different and the same with the Novare project in Channelside. Having two somewhat similar towers isn't so bad. And once they're all sold out, having more lights on during the night would look quite nice for Tampa.

If the economy does rebound and there is demand for more residential units, Venu would be one of the projects from the past I would like to see happen. And if TWELVE doesn't seem to ever be happening and the market isn't quite there for a full-residential Venu, maybe they can make a couple floors into a hotel and get the thing rolling.

I'd love to see Venu materialize. It would be a nice centerpiece.

Agreed. And I would do anything to get rid of the building that currently sits there.

Venu was awesome on the outside but not the inside and yes, the Merchantile building needs to go.

Every building west of Ashley, south of Kennedy, and north of Platt should have been demolished.

You guys are funny. Why do you weep over corpses and fantasies? And the reality is that that corner would have been a mess with building anyway. one block of chicago in vast expanse of Clearwater.

Every building west of Ashley, south of Kennedy, and north of Platt should have been demolished.

True. Wish it was all torn down and condos and a Hilton were there along the river. And also the west bank could use some decent architecture. Not much to look at on a boat ride down the Hillsborough.

You guys are funny. Why do you weep over corpses and fantasies? And the reality is that that corner would have been a mess with building anyway. one block of chicago in vast expanse of Clearwater.

Just disappointed but not losing any sleep over it.