A downtown parking lot would be redeveloped into a condominium, office and retail complex.
By JENNIFER FARRELL
Published July 15, 2003
CLEARWATER - A local developer was selected Monday to build a 10-story condominium, office and retail complex in a $25-million project aimed at boosting downtown redevelopment.
The new proposal would remake a parking lot next to Station Square Park and include a restaurant and parking garage on Cleveland Street.
Construction on the high-rise, given the early nod Monday by City Commissioners sitting as the Community Redevelopment Agency, would begin next year.
Ray Cassano, a downtown property owner and health food distributor, who also is prominent in local Scientology circles, is heading a group of local investors backing the project. He said Monday that Clearwater candy manufacturer Dayhoff LLC plans to moves its corporate headquarters to the building, bringing up to 200 jobs to the area.
On Monday, city officials celebrated the plan, which they see as a catalyst for widespread redevelopment downtown.
"I think this is a good step in the right direction," said City Commissioner Bill Jonson.
Said Mayor Brian Aungst: "Sounds great."
In addition to two floors of office space, the 10-story project would include 100 condominiums, 70 with one bedroom and 30 with two. Units, which will range from 1,000 and 1,300 square feet, will cost under $250,000, the proposal says. On the ground floor, shops and a restaurant are planned along Cleveland Street. Four floors of parking are also proposed.
The project, submitted by Beck, a Dallas builder, marks the first high-rise mixed use redevelopment project downtown in 15 years, said Economic Development Director Reg Owens.
In May, the city sought proposals from developers to remake the roughly 36,000-square-foot parcel, which lies between Myrtle and Garden avenues.
Dayhoff submitted a proposal of its own, but with only 40 condominium units. On Monday, city officials opted for more residential development.
As part of the deal, Clearwater Custom Floors, the two-story building at 628 Cleveland St. owned by Cassano, 51, and his wife Kim Bright Cassano, will be demolished.
City officials have said they are prepared to spend up to $1.25-million to buy back the 72 public parking spaces on the existing lot and then some, up to 100, said Owens. Most of the money would come from the sale of the property, which has been appraised at $720,000.
The remainder would come from money that has been set aside for the city's Community Redevelopment Agency, according to Assistant City Manager Ralph Stone.
On Monday, Cassano said he hopes to lure young professionals, using proximity to the beaches as a draw.
"No question we are testing the urban housing market downtown," he said, adding later: "The beach is sold out and Sand Key is sold out. Now the alternative is to live downtown."
Construction is expected to begin in about a year and finish within 12 to 14 months.
