The Gotham Organization and The DeNunzio Group began work on their mixed-use development, The Bluffs, in downtown Clearwater.Â
The milestone follows the capitalization of the project with a $160 million construction financing package, including 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 competitive request for proposal to redevelop the site, adjacent to the newly completed $84 million Coachman Park through a public-private partnership with the City of Clearwater.
Designed by Behar + Peteranecz Architecture, with construction by Moss Construction, 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.Â
The post Gotham, DeNunzio Teaming Up on 400-Unit Clearwater Rental Community appeared first on Connect CRE.
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