Plans in the works to add two luxury condo towers to Clearwater
CLEARWATER, Fla. - Plans are in the works to build the two tallest towers in Clearwater. If approved, the luxury condos would be 470 feet tall.
Valor Capital’s project is planned for 444 Bay Avenue between The Oaks of Clearwater retirement community and Prelude 80 Condominium.
The two proposed condos would be 35 stories tall compared to The Oaks’ 15 stories and Prelude’s 13 stories.
"We've gone and found out, well, how high do we need to go so that every unit can look at the water and optimize the view corridors for the residents as well as the neighborhood," said Moises Agami, CEO of Valor Capital, said.
Agami said the height of the buildings isn't set in stone.
"We are considering what's the maximum height that we could potentially need for a project of this nature, and that's what we went in and applied for, but it could be that the project comes down and as we go through the development cycle that we don't use all of that maximum height that we're considering," Agami said.
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He said they're still deciding what amenities they'll include in the two luxury condos and other specifics regarding the design.
"We want to make this a very high-end luxury product, better than anything seen in Tampa Bay and Pinellas County. Possibly all of Florida. So, we want to make this an extra harmonious product with the community that brings a lot of value to the community, and that takes time," he said.
Agami stressed that they're at the very beginning of the development plans. They have several consultants that will help them design the final product. The timeline for a project like this is at least five years, he said.
"Whenever we do a project, it's important to us to be a very valuable member of the community, and Clearwater has been saying that, 'we're looking to renovate and to reinvigorate and improve downtown and looking for signature projects to make this happen.' So, we're definitely putting one here on the table saying, 'Guys, here it is. Let's go big or go home,'" Agami said.
Clearwater's Planning and Development Director Gina Clayton said no height restrictions exist for the Downtown Core.
If a project meets the downtown code's specific requirements or allowable flexibility, the city's code allows staff to review and approve most projects through a building permit process in the downtown district.
She said this proposal falls within the authority given to the staff to review and doesn't need the Community Development Board to vote on it.
LaVerne Linhart lives in The Oaks of Clearwater. She said she's concerned the towers could block her view of the water and others.
"Whenever we do a project, it's important to us to be a very valuable member of the community, and Clearwater has been saying that, 'we're looking to renovate and to reinvigorate and improve downtown and looking for signature projects to make this happen.' So, we're definitely putting one here on the table saying, 'Guys, here it is. Let's go big or go home,'" Agami said.
"No matter where you go, they can continue to build higher and higher and higher," she said. "These really high buildings will completely block their views, and it just doesn't make sense that all the people that came here because they wanted to be able to see the water," Linhart said.
Agami said he plans to meet with community members before the plans are finalized.
" We're going to see how we can adapt and modify to incorporate some of those opinions into our project. But it's very important to note that we're just at the beginning of a development cycle. Once we're through it, you're going to see the project evolving and transforming into something very, very beautiful and world-class. So, you know, it's not the first time we face challenges in the neighborhood to do a development," Agami said.
Agami said their budget is about $300 million.
He said their current studies regarding the project's projected economic impact estimate it at more than $1 billion and will add 20,000-30,000 jobs to the area, including during construction.