Leases have not been renewed at 1301 SoHo in hopes of a deal to sell it. Previous plans to convert it to a hotel failed.
By DENISE WATSON BATTS
Published April 2, 2004
After 30 years, Nelson Medina moved out of his apartment complex on S Howard Avenue this week. Other tenants might follow.
Russ Versaggi, owner of the 1301 SoHo apartment complex, said the 72-unit complex is under contract to be sold to an out-of-town buyer.
He said he did not know what the company has planned for the property.
"There's no way of knowing, just as there's no way of knowing it will close," Versaggi said. "We've had it under contract before."
The buyer presented an offer that was hard to refuse, he said. He wouldn't give details about the offer and said he didn't know much about the company. If the sale goes through, he expects it to be finalized later this month.
Medina said he had heard the complex would be converted to condominiums.
Versaggi didn't want to comment on any possible plans. He has owned the apartments for seven years and owns more than 130 other rental units in the Tampa Bay area, including the Sanctuary, an old church in Tampa Heights that he converted into apartments.
About 10 to 12 tenants whose leases were set to expire during the past two months, including Medina, were not renewed. If the deal doesn't close, Versaggi will begin leasing the units again, he said. If it does, the new owners are obligated to honor the remaining tenants' contracts.
Versaggi said he has received numerous unsolicited offers during the past two years. In 2002, Atlanta developers wanted to convert the property to Hilton Homestead Suites.
But in February 2003, the developers backed down from their plan after facing strong neighborhood opposition. Neighbors said the hotel did not fit the residential character of their community.
Vicki Pollyea was one of the residents who fought the hotel and plans to watch what takes place at 1301 SoHo.
"My one concern is that it stay residential," said Pollyea, president of the Bayshore Gardens Neighborhood Association.
Pollyea said she would hate to see the area lose an affordable rental complex, something she feels is good for the neighborhood.
Medina, 73, wasn't planning to ever move. He had created a wall-to-wall book collection and the idea of moving the books had kept him put all these years, he said. And he takes care of an elderly friend who moved next door to him.
After getting notice from 1301 SoHo in March, he found someone to buy his books and a two-bedroom apartment two blocks away, which he will share with his friend. Both are on fixed incomes, he said.
"In a way, it's good," Medina said. "We will actually be saving money and we will be able to buy better food and things we need."
