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Commercial Real Estate
Business Observer Friday, Aug. 2, 2019 3 weeks ago

Ronto Group plans luxury condo tower in Tampa

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Naples developer the latest entry in a crowded urban field
by: Kevin McQuaid Commercial Real Estate Editor

The Ronto Group has unveiled plans to construct a 22-story luxury condominium tower in South Tampa, a break from its typical development locales along the Gulf Coast.

Altura Bayshore, as the new tower planned for Bayshore Boulevard and Bay-to-Bay Boulevard will be called, is being designed to contain 73 residences — including a half-dozen penthouse units.

Units in the 2907 S. Ysabella Ave. project, which will measure 2,176 square feet to 3,575 square feet, will be priced from over $1 million to roughly $2.9 million. Ronto Group has selected Smith & Associates Real Estate to market the units.

Designed by Tampa’s Curts Gaines Hall Jones Architects, Altura is expected to contain a plethora of modern amenities like private elevators, pickle and bocce ball courts, a fenced dog park and a putting green on site.

The project also will contain a rooftop swimming pool together with cabanas, a social lounge and outdoor grills.

Ronto Group Owner Anthony Solomon says in a statement he believes buyers will appreciate Altura’s “maintenance-free lifestyle” while also being in close proximity to restaurants, retail, entertainment and other attractions.

But Altura faces stiff competition from a field of other projects in downtown and South Tampa.

Atlanta-based Batson-Cook Development and Sarasota-based Ascentia Development Group, which three years ago began developing the 24-story Virage Bayshore containing 71 units, has unveiled plans for a 34-story condo tower downtown on a vacant lot across from Curtis Hixon Park.

Arris Tampa, at 507 N. Ashley Dr., is being designed to contain 80 upscale units priced from $600,000 to over $2 million.

Nearby, Feldman Equities and partner Two Roads Development are planning to construct nearly 300 condos in their 53-story Riverwalk Place project at 100 S. Ashley Dr. Like the others coming to market, units there are likely to be priced from about $600,000 to over $3 million.

Likewise, Strategic Property Partners is planning more than 400 condos in its twin-towered 815 Water St. project, the first residential offering in the $3 billion, mixed-use Water Street Tampa development near Amalie Arena.

Neither Solomon nor Smith & Associates, which is the exclusive leasing agent for Altura, Arris and Riverwalk Place, could be reached for comment on how the Ronto Group project will differentiate itself from the others.

Ronto Group has considerable experience developing high-end, high-rise residential, however.

In Sarasota, the company recently finished 624 Palm, an 18-story condo tower downtown with water views. In Bonita Springs, it was behind the 26-story Seaglass at Bonita Bay, and in Naples, the company is building Naples Square, a mix of 300 residences and retail space downtown.

In all, Ronto Group has developed more than 10,000 condo units, according to its website.

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