Crescent Resources Begins Work On Apartment Community On Bayshore, Tampa

A new eight-story, 367-unit apartment community is in the works for Bayshore Boulevard in Tampa.

North Carolina-based Crescent Resources is working on a $68 million project, Circle Bayshore, located at 319 Bayshore Blvd., just minutes from the Lee Roy Selmon Crosstown Expressway, Hyde Park Village, Channelside, downtown Tampa and Ybor City.

Circle Bayshore will rent studio, one-, two- and three-bedroom apartment units featuring high ceilings; walk-in closets; private balcony; full-size washer and dryer; gourmet kitchen with granite countertops, stainless steel appliances, undermount sinks and a prep island; and bathrooms finished with custom wood cabinetry, ceramic tile floors and granite countertops.

“Circle Bayshore will offer its residents a unique lifestyle in an uncommon location with amazing amenities, first-class programming and high-quality interiors,” says Brian Natwick, president of Crescent Resources' multifamily division.

Keen on going green, Circle Bayshore is expected to incorporate a number of sustainable, energy efficient features and materials, ultimately receiving Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Council.

In addition, the bay-front community will feature high-end amenities including a resort-style swimming pool, two-story health club and fitness center, outdoor living area with grilling stations and a fire pit, business center and club room.

Funded by an equity investment from Crescent Resources, construction financing from Capital One and mezzanine financing from Nationwide Real Estate Investments, the new community was designed by MSA Architects of Miami with Fort Lauderdale's Moss & Associates acting as general contractor, King Engineering of Tampa as civil engineer and Orlando's Land Resource Design Group, Inc. as landscape architect.

Crescent Resources expects to break ground on Circle Bayshore by October 2012 with initial apartments complete by the first quarter of 2014.

Writer: Alexis Quinn Chamberlain
Source: Brian Natwick, Crescent Resources
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