The Gotham Organization, alongside its joint venture partner, The DeNunzio Group, secured a $160 million construction financing package for The Bluffs, comprising a $115 million senior loan from Wells Fargo and $45 million in mezzanine debt and preferred equity from Schroders Capital and Lionheart Strategic Management.
The Bluffs is the result of a successful request for proposal to redevelop two waterfront sites adjacent to the newly completed $84 million Coachman Park through a public-private partnership with the City of Clearwater.
Developed by Gotham with architecture by Behar + Peteranecz Architecture, the former City Hall site will be transformed into a 630,000-square-foot, mixed-use development featuring a 400-unit luxury rental building, more than 10,000 square feet of retail space, and 440 parking spaces. Led by The DeNunzio Group, the former Harborview site, which is less than a block away, is under construction and being developed into a 158-key Hilton hotel with approximately 20,000 square feet of premium retail space. The hotel is expected to open in 2027. Â
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