By Ashley Gurbal Kritzer – Senior Reporter, Tampa Bay Business Journal
Aug 20, 2018, 7:10pm
A Bayshore Boulevard property that was mired in a yearslong controversy over a previous development proposal is once again being targeted for a luxury condominium tower.
Kolter Group, based in West Palm Beach, has filed preliminary plans with the city of Tampa for a 21-story at Bayshore Boulevard and South DeSoto Avenue.
Under the property's current zoning, up to 90 units are allowed, said Brian Van Slyke, one of Kolter's development executives. But it's unlikely Kolter would build more than 60 or 70 units on the property, he said, and they would be priced from $1 million.
Citivest had proposed a residential tower on the site in 2003 — scaling back plans for a 31-story tower to 24 stories — but those plans were struck down by the Architectural Review Commission and eventually city council. Citivest sought millions in damages and eventually settled with the city for $3.75 million in 2012.
Kolter is the developer behind ONE St. Petersburg, a 41-story condo and hotel development under construction in downtown St. Petersburg that has beat both Kolter's and the market's expectations in pricing and sales pacing.
The Bayshore proposal will be Kolter's first project in Tampa if it comes to fruition. Kolter is under contract to buy the site, Van Slyke said, and is about a month into its community outreach initiatives.
"We think Tampa’s ready," Van Slyke said. "We do believe in Hyde Park in particular. It has the walkability and has the views, and Virage has been very successful. We think we’re actually better located, being in Hyde Park because you add the walkability to the overall location and views."
Virage is a 24-story tower on the former Colonnade restaurant site at Bayshore Boulevard and West Julia Street.
So far, Van Slyke said, neighbors have been "generally receptive" and "appreciative" of Kolter's efforts.
The proposal does not require a public hearing at city council, but it will face public input when the project goes in front of the Architectural Review Commission. Because the property is in the Hyde Park historic district, the proposal requires a certificate of appropriateness to move forward.
Kolter's tower is the latest development proposal on Bayshore Boulevard in the last year. Taub Entities is prepping a site at 2619 Bayshore Blvd. for the construction of a 17-story condo tower. Tampa's Casper family, the state's largest McDonald's franchisee and owner of Oxford Exchange, has proposed the conversion of a century-old Bayshore estate into a private social club, The Stovall House.
The Stovall House, which has stirred controversy among some surrounding neighbors, will face a public hearing on Aug. 30.
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