Developer buys key parcel for $675 million Tampa project

ARC Tampa Development and Prosper Group have closed on the second parcel needed for the planned Hotel ORA + Private Residences project in downtown Tampa. 

The companies paid $13.5 million for the site at 205 N. Brush St. 

The purchase brings together three parcels totaling one acre where the $675 million mixed-use development will be built. The first parcel, 1101 E. Jackson St., was bought in 2024 for $2 million, according to Hillsborough County property records. 

The sale of the final parcel, 1107 E. Jackson St., is expected to close soon. A spokesperson for the developer would not disclose the sale price. 

The project, located near the Tampa Water Street district, will include a mix of hotel rooms and condominium units with 22 floor plans and eight penthouse layouts. Pricing ranges from $742,000 to $1.5 million, with a separate 39th-floor penthouse offered at $10 million. 

Plans, according to a statement. call for a spa and a rooftop helipad as well as a to-be-announced national steakhouse that will anchor the property with 10,000 square feet of restaurant space. 

The development team includes ARC Realty Group, Prosper Group and Sunwest Construction. 

The project has already topped $200 million in sales.