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Tower Would Combine Condos With Hotel Rooms
By RICHARD MULLINS
Tampa Tribune
Published: Nov 29, 2006

The Tampa skyline could see yet another condo tower.

The developers of the Skypoint condominium tower, under construction at Ashley Drive and Zack Street downtown, disclosed plans to build another tower one block to the north, 47 stories high, with 410 condo units and 130 high-end hotel rooms.

Novare Group of Atlanta and Intowngroup of Tampa announced the hotel portion of the building Monday - a boutique hotel called Twelve.

However, documents that the companies filed with the city disclose a more ambitious project.

Standing 562 feet tall, the project could be among the five tallest in the city, if built. The ground-floor plans include retail and restaurant space, plus a 5,100-square-foot ballroom and entrance to 11 floors of parking.

Developers on Tuesday declined to answer questions about the condo portion of the project, such as the size of the units, price range or configuration.

The building will sit directly north of the Skypoint tower and occupy the block bordered by East Cass Street, North Tampa Street, East Polk Street and North Ashley Drive.

That site is a surface-level parking lot. Zoning documents filed with the city mention the possibility of providing 190 parking spaces within the tower to employees of TECO Energy, which has its headquarters next door.

Construction is planned to start in 2008. The architect of record is Rule Joy Trammell + Rubio of Atlanta.

Combination hotel-condo projects are among the more popular urban developments for a variety of reasons, said John McIlwain, a senior fellow at the Urban Land Institute in Washington.

Many major cities have seen new condo-hotel buildings, marketed to urban city dwellers who enjoy hotel amenities and executives and travelers on extended trips.

Even if the building is primarily condo and holds relatively few hotel rooms, developers can command higher prices for their condos by offering the in-building amenities of a hotel, such as room service, a concierge and restaurants.

"They can sell the housing space, plus the service," McIlwain said. "This will be a niche at the high end. Most people who buy condominiums do not want to pay the prices for all the services a hotel offers."

Reporter Richard Mullins can be reached at rmullins@tampatrib.com or (813) 259-7919.



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