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Grand Bohemian St Petersburg may not keep the condos

Richard Kessler, developer of the Grand Bohemian Hotel & Residences in downtown St Petersburg, Florida, has asked the city of St Petersburg for a modification and extension on his contract with the city to buy the land at the northwest corner of 1st Ave N and 2nd St N. The request eliminates the luxury condos from the project and wants to delay construction commencement to April 30, 2009. Based on that, completion of the hotel would be  Fall 2011.

Originally designed as 82 luxury condos and 166 hotel rooms, the latest redesign had 22 luxury condominiums and 292 hotel rooms. There have not been enough presales of the condos fo close on the construction loan.

The St Petersburg City Council is scheduled to vote on the request today.

Hopefully the council will allow the extension as having the Grand Bohemian Hotel in downtown St Pete would be a wonderful addition to a beautiful downtown.

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Westin Hotel and Condos St Petersburg FL – Think Beyond the Print

Recent articles in the newspaper have described the location for this project as "the corner of 1st St North and 5th Avenue N" and north of a power substation. On that corner, in that location, is a small convenience store and a parking lot. Based on the description, it’s easy to imagine this as the site for the downtown St Pete hotel and condos, and believe it is far too small for the project. Nothing has been mentioned about the project also encompassing some homes to the west, so that the project would go from 1st Street all the way to 475, a new downtown St Pete condo project. Look at the other projects rising along 5th Avenue North between Beach Drive and 4th Street – when you have big buildings by the street and have to look up to see the top, does it really matter just how many stories that is? Let’s see the plans, how it appears on the street, how they’re handling traffic, and then address how it affects the neighborhood. Let’s look at the site plan and all the facts first, rather than having a knee jerk reaction.

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Parkshore Plaza downtown St Petersburg Florida 1st Quarter 2007 Update

Parkshore Plaza, a luxury condominium on Beach Drive in downtown St. Petersburg, was completed by Opus in 2006.  According to the Pinellas Realtor Organization MLS, at the end of the first quarter of 2007, there were 20 units available ranging in price from $569,000 to $3,500,000.  One large city home was under contract, which is listed at $1,400,000. MLS records show 3 sales in 2007: two city homes from $539,000 to $639,900 and a penthouse at $2,376,500.  For information on any of the condo units, please contact The Simms Team.

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Grand Bohemian St Petersburg Changes Approved

One block south of our office is the site for the Grand Bohemian Hotel, a Kessler project. The Grand Bohemian had applied for a change decreasing the number of luxury condo units from 82 to 52 and increasing the number of hotel rooms from 175 to 254. The Environmental Development Commission has now approved that change. The hotel is scheduled to be built at the northwest corner of 2nd St. N. and 1st Ave N. in downtown St. Petersburg. The condominium units will start on the 26th floor.

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