After the Hurricane, Construction Resumes on West Florida Condo Project
This development was relatively insulated from Milton’s impact.
Construction sites are alive and well along Florida’s west coast, just days after Hurricane Milton hit last week.
Roughly six miles southwest of Downtown Tampa, Capital Construction is building Phase I of AQUA at Westshore Yacht Club, which includes 77 waterfront condominium residences and nine luxury villas in Tampa Bay. JLL Capital Markets has secured $117 million in construction financing to cover Phase with Phase II and III being developed over the next few years.
According to JLL’s managing director, Max La Cava, it is destined to become the largest condo financing in Tampa’s history. He and colleague director Jimmy Calvo led the JLL team, representing Westshore Group. What’s more, it is the last open, developable parcel within the exclusive Westshore Yacht Club.
AQUA is being built on a 6-acre site. Each individual phase will be a 17-story tower with two-, three- and four-bedroom living arrangements that include private elevators and open floorplans. At bull build-out, the community will total 248 residential units, comprised of 237 condominiums and 11 villas.
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Community amenities will include a fitness center, spa, pickleball court, golf simulator, movie theatre, valet parking and concierge. As its name suggests, the community will also include a 173-slip Marina with an on-site yacht club.
“This project’s sheer scale and luxury scope, along with its premier waterfront location within a gated yacht-club community in Tampa Bay, (give it that possibility),” La Cava told Multi-Housing News.
Weathering the storm
Jimmy Calvo, a director for JLL, said there was no damage or flooding at the site from the hurricane. The site was in Milton’s path when it made landfall as a Category 3 storm at about 8:30 p.m. Wednesday, Oct. 9, near Siesta Key in Sarasota County, the National Hurricane Center said. It won’t take a hit on insurance costs, either, JLL said.
“Insurance for the construction was acquired before the start and will be in effect for the two years it takes to complete,” Calvo told MHN. “There have been no changes to the cost.”
According to Calvo, the crew was on the site on Friday, Oct. 11, and ready to start work again.
“Over the weekend, the crane was installed, and on Monday, work started again,” Calvo told MHN.
Calvo said the site was properly prepared for the storm, with the crane taken down and everything secured. Each phase will feature a 17-story condo tower with two-, three- and four-bedroom units. On Tuesday, Oct. 15, concrete was poured.
Happenings around Tampa
Also in Metro Tampa, American Landmark Apartments bought The Griffin, a 455-unit luxury community in Brandon, Fla this month. The property was created by combining two neighboring assets: the 288-unit Courtney Trace and the 167-unit Addison.
According to Yardi Matrix information, the seller of the two properties was White Oak Partners.
Built in 2008, The Griffin covers a total area of 23 acres.
