The residential portion of Pendry Hotels & Resorts’ planned downtown Tampa tower has reached $200 million in sales.
The developer behind the project announced the milestone Thursday and also gave an update on the progress of construction.
Tina Necrason, the executive vice president for residential at Pendry’s parent company Montage International, says in a statement that buyers are coming from across the country and that the sales figure is an “indication that we have a unique opportunity in Tampa,”
Developers have previously said that the 37-story luxury hotel and condominium complex on Tampa’s Riverwalk is expected to open in 2025. It includes 220 hotel rooms, a luxury spa and a rooftop pool on a deck overlooking the Hillsborough River, along with fare like an upscale restaurant, a lobby bar and a cafe.
On the floors above the hotel will be 207 condos that will have a dedicated residential staff as well as a private entrance, lobby and elevator and access to hotel amenities. The units themselves will be one to three bedrooms with floor-to-ceiling windows and terraces. Prices start at $1.3 million.
The project, Pendry Tampa, is a partnership between Pendry and Miami-based Two Roads Development.
As for the construction, Two Roads says crews have finished testing and are preparing to begin the foundation work. Soon after concrete piles and casting reach 275 feet deep, work on the concrete foundations will begin.
Pendry is part of Montage International, a chain of ultra-luxury hotels, resorts and residences. Pendry operates properties in Hollywood, California; Chicago; New York; Baltimore; and Park City, Utah. Several more are in the works.
While all Montage properties have a residential component, not all of Pendry’s properties do.