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Tampa: The Novare-Intown Condo Projects

25K views 211 replies 30 participants last post by  tampamobster21 
#1 ·
post dedicated to the new projects being discussed ont eh Tampa and SKypoint threads.

I figured it's so big -- we ought to have an entirely new thread!

Jason, there is probably goign to be a better title for this thread but I didn't want to call it the "Cass street/Polk Street Surface lot projects" or something like that.

Strong demand for condos hatches two more downtown towers

The developers of the sold out SkyPoint tower are planning two more projects a block away.

By MICHAEL VAN SICKLER, Times Staff Writer
Published February 7, 2006

TAMPA - Strong demand for condos in the sold out $31.6-million SkyPoint tower, which will be completed later this year, persuaded its developers to plan two more projects a block away.

The Novare-Intown Tampa Development Co. filed zoning applications this week at City Hall for two towers, each one planned for 34 stories with a combined 805 units. If completed, the three towers would transform an area once reserved for parking lots and billboards into a neighborhood of young professionals.

"Novare Group is extremely pleased with the market acceptance of SkyPoint," said John Akin, the lead developer on the project, in a Tuesday statement.

City officials cheered the plans, saying they mesh nicely with Mayor Pam Iorio's goal of transforming downtown into a residential neighborhood quite unlike the ghost town it becomes after a typical work day. Iorio's top projects to accomplish this are Riverwalk, an overhaul of Ashley Drive and slowing traffic on other streets.

With sale prices in the new towers expected to fetch between $170,000 and $475,000, Tampa's economic development director said the intended residents are exactly the type downtown needs.

"(Novare) is not marketing to a second home market, where a unit will be occupied only part of year," Mark Huey said. "They really are targeting a younger, more vital population that will bring energy to downtown."

City Attorney David Smith said the developers want to move swiftly. The zoning plans are expected to go before the City Council in March. Construction on one tower is aimed to begin in June, with the second for September.

SkyPoint will have 32 stories and 380 units when completed. On the block north of that project is a 1-acre lot along Ashley Drive owned by TECO. Motorists know it by the billboard that's now advertising Guinness beer. It's also where TECO employees park.

Novare plans a 34-story building stretching 445 feet into the sky. It would have 400 units, with more than half having one bedroom and averaging 745 square feet in size. Another 181 units will have two bedrooms and average about 1,143 square feet.

To the east of this property is another parking lot. This one sits along N Franklin Street, diagonal from the Tampa Theatre. TECO employees also park here.

Franklin is attracting much attention from developers. The Franklin Street City Lofts, Residences of Franklin Street, The Arlington, another loft complex, and a small building with a new restaurant, Fly, are all underway.

On the eastern lot, Novare plans to build a 460-foot-tall tower with 405 condos. It plans on 274 one-bedroom units, with an average size of 969 square feet, and 131 two-bedroom units, with an average of 1,200 square feet.

The site plans also earmark a combined 23,000 square feet for retail, which could include restaurants and delis, convenience stores and specialty shops. Developers will work with city officials to comply with public art and open space requirements, which could include brick pavers, and decorative canopies, awnings, planters and light fixtures.

On both towers, the first nine levels will be reserved for ground uses and parking with a total of 1,575 spaces.

TECO owns both lots. As part of the land sale, which is still pending, Novare will set aside 190 spaces in each tower for TECO employees. During evenings and weekends, these spaces would also be used by the public.

"One of the important factors that convinced us to sell was Novare's intention to do something now," said TECO spokesman Ross Bannister. "That's important to us. We want a thriving downtown community."
[Last modified February 7, 2006, 19:51:03]
 
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#2 ·
Not much to learn, but here it is anyways.


Condo Developer Adds More Details On Units, Parking


The Tampa Tribune
Published: Feb 8, 2006
By Shannon Behnken


A few additional details were released Tuesday by the developers proposing to build twin, 34-story condominium towers in downtown Tampa a day after TECO Energy confirmed that it had been talking to Novare-intown Tampa Development LLC.

TECO said it will sell two city blocks bounded by Ashley Drive and Cass, Franklin and Polk streets if the developer provides some parking for TECO employees. The headquarters of the utility, which currently uses the vacant site for employee parking, is near the site. The complex would include two parking garages with a combined total of 1,575 spaces, according to Novare-intown's rezoning application that was filed with the city Monday.

One 400-unit tower would include 219 one-bedroom condos averaging 744 square feet, with 181 two-bedroom units averaging 1,142 square feet, the rezoning application said.

The second tower, with 405 condos, would have 274 one-bedroom units with an average of 969 square feet. The 131 two-bedroom units planned for the second tower would average 1,197 square feet.

Novare-intown also controls other downtown properties. The Atlanta-based developer is building the nearby SkyPoint condominiums on Ashley Drive and also bought the Gold Bank building at 601 N. Ashley Drive in July. Novare-intown spokeswoman Margie Martin said Tuesday that the developer plans to continue operating offices at the Gold Bank building for now.
 
#5 ·
IF you want a good idea of the lots, just post a still from the Skypoint webcam. The parking lots at the top of the pic are the lots in question (I have no place to host a still)
As for Doran Jason - I still find it hard to beleive that ALL these buildings are going up anytime soon. To be honest, Novare has a track record and I think I prefer their projects right now.
 
#7 · (Edited)
Holy Crap!! I dont know if that part of Tampa has room for another 805 units. Doran Jason Group project has about 1,000 units and im sure the Wood/Mass Brother project will have about another 250 units, Royal will probaly have about 200 units and Skypoint has 400 units. Thats about 2655 units within 5 blocks of each other! I dont think a year ago we could consider this even possible in Downtown Tampa.
 
#8 ·
^I certainly wouldn't have... at least not for that part of DT.... Not that it isn't 'possible' in terms of physically working, but that there just wouldn't be nearly enough market for it... But hey, so far it's only like 550 units that are actually u/c or built recently in north DT.


I'm seriously starting to wonder if/when the office market DT will liven up a bit. Banks keep trickling in, but little else has been.
 
#9 ·
^ I wouldn't be surprised if in about 5 years - or once the downtown residential market has been thoroughly established - we'll see some new office towers proposed. With downtown eventually seeing action 24/7, it's only natural. Or perhaps some combo towers: part residential, part office.
 
#10 ·
Jasonhouse said:
^I certainly wouldn't have... at least not for that part of DT.... Not that it isn't 'possible' in terms of physically working, but that there just wouldn't be nearly enough market for it... But hey, so far it's only like 550 units that are actually u/c or built recently in north DT.


I'm seriously starting to wonder if/when the office market DT will liven up a bit. Banks keep trickling in, but little else has been.
As rich bussiness owners move to DT Tampa's high priced condos, I'm sure atleast a few will bring their bussiness with them. If not their money, which in turn brings demand, which in tern brings bussinesses. :)
 
#12 ·
WHo wnats to wager that the two new towers are inter-connected in design? I think it's a certainty in this case because of the proximity of the buildings...

I also have to wonder if Norvare would have put the parking enterance on a different side o fthe Skypoint building, knowing that there would be another residential tower just accross the street?
 
#14 ·
randommichael said:
I hope they have their own special design and aren't modeled after Skypoint. I like Skypoint, but three cookie cutter highrises wouldn't look right.
From looking at their website - it seems that a lot of Novare's buildings look the same.

This part of town has become quite a nice little residential community. I like the way the downtown core is surrounded by neighborhoods. Harbor Island to the South, Channelside to the East, University of Tampa to the West, and this new residential grouping to the North
 
#15 ·
multifamilyinvestor said:
From looking at their website - it seems that a lot of Novare's buildings look the same.

This part of town has become quite a nice little residential community. I like the way the downtown core is surrounded by neighborhoods. Harbor Island to the South, Channelside to the East, University of Tampa to the West, and this new residential grouping to the North
All those neighborhoods are the downtown core.^^
 
#18 ·
I'd be surprised if the two buildings were physically connected. One is primarily smaller less expensive units, the other is more multi-bedroom units going up to near $500k. They'll be marketed differently, laid out differently; I expect Novare wants them to be known as two entirely separate projects.
It's this that gives me at least a wee bit of hope (likely unfounded) that the two buildings will not be complete carbon copies one from the other from Skypoint from other buildings in Atlanta. We shall see. Still, as a downtown resident I look forward to having a thousand more neighbors who actually have homes.
 
#19 ·
They will be mostly glass and have spires or some sort (all the novare buidlings do). The exact positioning and where they put the various exposed concrete on the facade will probably be a bit different. Look at the novare website - you can tell the style but they change it up a little bit.
 
#20 ·
thehappysmith said:
I'd be surprised if the two buildings were physically connected. One is primarily smaller less expensive units, the other is more multi-bedroom units going up to near $500k. They'll be marketed differently, laid out differently; I expect Novare wants them to be known as two entirely separate projects.
It's this that gives me at least a wee bit of hope (likely unfounded) that the two buildings will not be complete carbon copies one from the other from Skypoint from other buildings in Atlanta. We shall see. Still, as a downtown resident I look forward to having a thousand more neighbors who actually have homes.
I think all of us will be pleasantly surprised. :cheers:
 
#22 ·
That's against their MO - putting a pool suspended on a bridge over a street is a HUGE financial ivestment and Norvare does things fast and on the cheap.

I do think there will be some interconnection - though that also is against the usual construction of Novare's buildings - but it won't be anything grand. Maybe a pedestrian bridge between parking garages.
 
#23 ·
I do think there will be some interconnection - though that also is against the usual construction of Novare's buildings - but it won't be anything grand. Maybe a pedestrian bridge between parking garages. by John F

I doubt that there will be any connection. One...it will cost money that they probably not willing pay cause due to high cost of construction. Two...they don't have any history of doing elevated bridges over the road connecting buildings. Three...they will need to apply for some special permit which will delay and add cost to the projects and dealing with Tampa City Councils. Four...if they are going to connect the two new condo projects with a pedestrian bridge then what about the skypoint that is presently under construction?
 
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