Downtown Tampa condo-hotel lands half-billion-dollar construction financing
The 38-story tower is well behind initial timeline projections that had it opening in spring 2025.
The 38-story tower is well behind initial timeline projections that had it opening in spring 2025.
While work at the site of the Pendry Tampa and Pendry Residences has been going on since early in the year, construction will formally begin Wednesday when the developers hold a ceremonial groundbreaking.
That is the day officials from Pendry Hotels & Resorts and Miami-based Two Roads Development will show up at the Ashley Drive property along with Tampa Mayor Jane Castor to make a few speeches and toss shovelfuls of dirt while construction crews, bystanders and invited guests look on.
The Pendry property is one of downtown Tampa’s most notorious.
A 37-story luxury hotel and residential tower coming to downtown Tampa is seeing buyer interest and has plans to break ground this summer.
Reid Boren has already attempted to develop the last remaining vacant parcel on downtown Tampa’s waterfront once — but he’s even more bullish on the project the second time around.
Boren is managing partner of Two Roads Development, which is behind the 37-story hotel-condo proposed at Ashley Drive and Brorein Street. Both the hotels and condos will bear the flag of up-and-coming hospitality company Pendry, which is based in San Diego.
The latest iteration of plans for the vacant parcel at Ashley Drive and Brorein Street will plant Florida’s first Pendry Hotels and Resorts in the heart of downtown Tampa.