Something new is emerging in downtown Tampa. Pendry Residences Tampa plans to break ground this fall at 111 S. Ashley Drive on a luxury hotel and condominium tower scheduled to open in 2025.
The development sells itself as offering a new level of hospitality and living experience in Tampa Bay. While some luxury brands are known for power, status and excess, Pendry seeks to offer understated, thoughtful and relationship-oriented luxury.
Pendry Residences Tampa will be the latest high-profile addition to a booming downtown. A decade ago, there were precious few calling downtown home. Now the urban core and surrounding blocks are home to over 30,000 residents. Rental options include high-end condominiums in the Channel District and Water Street, mixed-income developments in West River, senior housing as part of Encore, student housing at 220 Madison and The Henry and ownership in independent residential towers.
The Related Group recently announced plans to develop along the southwest river 1,000 residential units and 32,760 square feet of retail space. The units will be a mix of student housing, market-rate rental units, and for-sale condominiums. Intown Group has proposed a 23-story student housing tower nearby the University of Tampa. The Place at Channelside is moving forward with a 32- story mixed-use tower.
Now there is an appetite for luxury living, balancing out the portfolio of downtown residences. Recently the Marriott International’s Residences at the Tampa Edition in Water Street sold-out 38 luxury condominiums that will be situated above a five-star hotel. Kolter Urban is moving forward with plans for the 55-story ‘One Tampa’ that will offer over 300 condominiums just across the street from Curtis Hixon Waterfront Park.
Still, there remains opportunity for development.
“At the moment, Pendry Residences Tampa are the only for-sale inventory in the downtown market, and they are selling quickly,” says Dave Traynor, vice president of Developer Services with Smith & Associates Real Estate, the firm handling the sale of condominium units at Pendry.
One may assume that the sales are directly related to the population explosion of recent years but that is not necessarily the case.
“The buyers at the Pendry Tampa right now are largely local buyers,” Traynor says. “People who have benefited from increased property values and want to upgrade their lifestyle or county residents who want a place in the city.”
Two Roads Development is partnering with Pendry to build the five-star hotel with 220 guest rooms. Above the hotel will be 207 residences that span floors 15-38, all facing west for waterfront views. Homeowners will have a private residential lobby, elevator and rooftop pool.
The new luxury brand Pendry Hotels & Resorts is the vision of Michael Fuerstman, co-founder and creative director, and his father, career hotelier Alan Fuerstman, founder, Chairman and CEO of the world-renowned Montage International.
Michael Fuerstman grew up in the hospitality industry. At age 15, his first job was as a pool boy at the Bellagio Hotel & Casino Las Vegas. After years of working his way through nearly all aspects of hospitality operations, he found his niche in development with the minset of transforming luxury hospitality. His contemporary vision of luxury focuses on art, design, guest experience and programming. The approach has attracted loyal buyers.
“It has been great to see repeat buyers from other Pendry properties purchasing residences with us in Tampa,” Montage International Executive Vice President, Residential Tina Necrason says. “Our personalized services and amenities enhance the turnkey lifestyle that resonates with our owners.”
For the Tampa residences, lead architect Bernardo Fort-Brescia designed a modern property where all owners have a west-facing waterfront view. Expansive terraces give panoramic views where homeowners can marvel at the setting sun sparkling over the Hillsborough River and Tampa Bay.
Italian designer Alessandro Munge designed each floorplan with windows spanning floor to ceiling, washing the home in natural light. The residences feature leather-finished quartzite stone countertops, spa-like bathrooms with Carrara marble and deep soaking tubs. Bespoke millwork is woven throughout the property. The interiors mix lush Gulf Coast with California cool, with wood tones that hint at Tampeño panache.
All Pendry hotels and resorts offer the same signature scent, a blend of santal and cypress notes created by the brand MiN. The fragrance wafts from branded candles in the lobby.
Pendry Tampa will include a riverfront restaurant and bar with artful attention to cuisine and cocktails. Each property is crafted together with local artists to appeal to both locals and visiting guests who want to experience a taste of the new environment.
In all, Pendry’s museum-worthy art collection imbues a feeling of expansion and a sense of place. Artwork is selected to match the tone of each location, celebrating both international and homegrown expression. In West Hollywood, Anthony James’ “Icosahedron” sculpture is hypnotic yet vibrant, matching the star power of Los Angeles. In Chicago, colorful abstract portraits by Clarence James provoke thought. James is a self-taught local artist whose mixed medium work is inspired by the late Jean-Michel Basquiat.
Despite having a national footprint, the Pendry/Montage collaboration still strives to carry the company culture of a family business with a commitment to customer service at its core. As a newer division of Montage International, the Pendry brand has a reputation for blurring the lines between boutique and luxury. Currently, there are Pendry hotels and resorts in Chicago, West Hollywood, San Diego, Baltimore, Manhattan West and Park City, Utah. Locations open soon in Washington DC, Natirar, New Jersey and Newport Beach, California.
For more information go to Pendry Residences Tampa