Tampa developer plans new apartment complexes

July 14, 2013 by  

Alliance Residential Company is planning to develop two upscale apartment complexes in the Tampa area, it was reported earlier this month.

The company is considering a 240-unit building for Clearwater, and a 259-unit to be sited in the Hyde Park area. Rents for the new units will $1,000 and up, starting well above current Tampa rents, which average around $900. Alliance believes there is a market for higher-priced units that offer more amenities and a more luxurious lifestyle.

The two projects, which are known as Broadstone Clearwater and Broadstone Hyde Park for the areas in which they are located, would add almost 500 units to the rental market in Pinellas County and Hillsborough County, bringing the total there to 6,000 such residences.

Alliance has also applied for a permit to build another complex in downtown Tampa, at the intersection of Rome Avenue and Cleveland Street. This building would be five stories in height, set on a site that comprises three acres. At present there are buildings on the land, but all are vacant except Southern Equipment Corp.

The downtown apartment project is estimated to cost about $38m, and will feature two adjoining buildings, as well as a parking garage. The units will be mixed, with one-, two- and three-bedroom homes available for varying rents. Residents will also have access to a Wi-Fi café, a clubhouse, and a pool.

Alliance might consider working with brochure printers to develop material to give to city housing officials to show them the proposed developments, and how they will benefit Tampa residents.