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PO Box 1212 Tampa, FL 33601 Pinellas Updated November 2024
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RETURN TO NEWS INDEX They Rent That-A-Way? CHANNEL DISTRICT - Developer Michael DeMarcay never considered putting condominiums on the 7.9 acres that Synergy Properties bought from the city five years ago. Apartments always were the plan, said DeMarcay, Synergy's vice president. So when the 422-unit Seaport Channelside, bordered by Twiggs and 12th streets and Meridian and Raymond avenues, is completed by October, Synergy will use the rest of its land to build more apartments. The 300-unit second phase will be designed for smaller apartments and lower rents, DeMarcay said. The project should break ground in 2009. "Apartments really fill a hole that we have here in the downtown area," he said. Plus, trying to fill apartments is a whole lot easier than selling condominiums in a sluggish housing market. Since September, the Grand Central on Kennedy condominium complex, across from Seaport Channelside, has been leasing 200 of its 392 units as apartments. About 35 units remain available for rent. "At least when you're leasing the units you have a better chance to look to the future," Grand Central spokesman Don Scalf said. He said about half of the potential condo buyers pulled out of their deals at Grand Central, 1208 E. Kennedy Blvd. Some investors were renting out their units so it made sense for Grand Central to follow suit. Scalf said some renters expressed an interest in buying, but he's not seeing that trend now. "I haven't written a contract in a long time," he said. Other Channel District condo projects, including The Towers of Channelside and The Place at Channelside, have filed for bankruptcy protection. Even with the community's limited rental options, Seaport Channelside, like Grand Central, is offering move-in incentives such as one month's free rent. Developers say a host of amenities are needed to attract renters willing to pay upward of $1,400 monthly for a one-bedroom unit at Grand Central and $1,250 at Seaport Channelside. Channel District rents are comparable to those on Harbour Island. At Seaport Channelside, 50 tenants have moved in, with 174 units completed since March. Community director Trish Carney said tenants expect such things as the courtyard swimming pool and large recreational room. "Of course, our appeal is our location," she said. "But people also want services at their apartments, so we offer dry-cleaner pickup, massage and workout rooms and downstairs computers." There also are bicycles to use for free, fax machines, a gourmet coffee counter and a resident activity calendar. "We have to offer a resort-style living," Carney said. DeMarcay said he will take comments from renters before deciding what to include in the second phase. "Certainly, there won't be as many amenities," he said. "We went overboard here." Scalf said mixing renters and owners is working at Grand Central, which has a rooftop lap pool and running track. "They have dinners and go to the pool and make friends," he said. At Channelside Bay Plaza, merchants hope warm bodies - renters or owners - continue coming to the Channel District. "We desperately need people to live nearby," said Cher Tournade, who has owned the Surf Down Under clothing store for three years. "We depend on locals," she said. "We are only going to get so many cruise- and conventiongoers. If more and more people could walk here, that would be great." Robert Bousquet, co-manager of the plaza's 2-year-old NYPD Pizza Delicatessen, said his favorite phrase is, "Nice to see you again." "To get these repeat customers, especially in the summer when it's always slow, we need to have a full neighborhood nearby," he said. Reporter Janis D. Froelich can be reached at (813) 259-7657 or jfroelich@tampatrib.com. |
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