The developers known for pioneering projects in downtown Tampa's Channel district are moving forward with the neighborhood's first new condominiums in more than a decade: 35 stories of luxury units on Channelside Drive.
Mercury Advisors has secured a $45 million development loan for Eleve 61, which will be built at 858 Channelside Drive on a .65-acre parcel that the developer has owned since 2006. The tower, once proposed as Del Villar, includes 61 units and has been designed for "urban professionals and empty nesters," said Ken Stoltenberg, a partner in Mercury Advisors.
The condos in Eleve 61 have three bedrooms and are 2,200 square feet each, with verandas on the western side of the building for skyline views. The units are priced between the $800,000s and $1.8 million.
A sales center is slated to open on the ground floor of the nearby Meridian in September. Mercury Advisors won't say exactly what their threshold of presold units is for beginning construction, but that the number is in line with industry standards, which is north of 50 percent, or more than 30 condos.
For more information, check out the Tampa Bay Business Journal.
