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Business Observer Wednesday, Nov. 3, 2021 1 month ago

With nearly $50M in sales booked, developer begins work on phase two of luxury tower

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Altura Bayshore is moving its sale gallery as crews prepare to lay foundation for 23-story tower
by: Louis Llovio Commercial Real Estate Editor

TAMPA — Altura Bayshore, the luxury waterfront condominium tower being built in Tampa, is moving its sales gallery to make room as crews prepare to begin work on the second phase of the project.

Altura’s sales gallery has been onsite on Ysabella Street but must clear out in order for equipment to move in and foundation work to begin. It will first move to the Smith & Associates Realty office on West Bay to Bay Boulevard for several weeks and then, at the start of the new year, will move to a permanent location about a half mile east.

This will clear the way for the phase two of the project, which is the construction of the actual 23-story condominium tower. Site work is already underway, and the area is being prepared for the foundation.

Altura Bayshore is a 67-unit complex with six penthouses. Each unit has a private elevator foyer and ranges in size from 2,176 square feet to 3,575 square feet. Prices start at $1.425 million and top out at $3.5 million.

The first three levels of the tower will consist of an access controlled, resident-only parking garage. The fourth floor will have a dog park, pickleball courts, bocce courts, outdoor pavilion and bar.

The Ronto Group, developing Altura, says the tower will be the only one along Bayshore Boulevard with an outdoor “rooftop experience” that includes a pool with lap lanes, rows of cabanas, outdoor bar and clubroom. Residents will have views of Hillsborough Bay and Bayshore Boulevard to the east, Old Tampa Bay to the west and downtown Tampa to the north.

Work on the property began in August with the construction of a parking garage to serve an office building next door.

As work on phase two begins, Ronto says 50% of the units have already sold with nearly $50 million in contract and that, because of the early interest, several floors only have a single unit available.

Construction of the tower is expected to be finished in late 2023.

Altura is just one of several luxury condo projects on the Gulf Coast that Ronto is currently working on.

The developer is building Omega Bonita Bay in Bonita Springs, a 26-story tower with 67 condos and is also building Seaglass at Bonita Bay, another 26-story offering with 120 units, next door.

In Naples, Ronto began work in February on the second of three planned buildings at Eleven Eleven Central, with 72 units.

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