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Condo plan near marina ebbs, flows

New owners plan more buildings, more condo units and a new name, not yet decided.

By SHARON L. BOND
Published March 27, 2005

ST. PETERSBURG - More changes are in the works for the Harborage Marina condominium project near the Salvador Dali Museum, including a new owner and a new name.

Vector Properties has a contract to buy the 3.7-acre site from Marinas International, which owns the marina. Construction is planned to begin in August, said Corey Carver, director of development with Vector.

"We were looking to do more condos," Carver said. "We liked the location, right on the water."

It remains a mixed-use project that will have retail and office space, in addition to condominiums. Vector hopes to attract a restaurant for the project that is near the Harborage Marina.

"We are doing the condo documents now," said Ken Heretick, president of Vector. "A sales trailer will be up in May.

What now is known as Harborage Marina Village is planned for 1100 Third St. S.

"More than likely, the name will change," Heretick said, though he doesn't have a new selection.

Vector also recently purchased the historic YMCA in downtown St. Petersburg and is converting that building to condominiums.

Harborage Marina Village first was announced in late 2003 and was expected to be under construction by early 2004. It was heralded as a extension of luxury condominium building from downtown proper to the southern areas of the city.

Harborage began as a project of a group that included several local investors. They failed to close on the property when one investor dropped out last year. The remaining members looked for a new partner but no longer are involved in the deal, Heretick said. Vector and partner Phil Powell are the principals in the contract to buy the land.

In February, the city's Environmental Development Commission approved a different plan for the project, changing it from one condominium tower to four different buildings and more units. Vector is using the new plan.

It calls for 270,000 square feet of space in four buildings with 62 residential units and 26,000 square feet for office or retail space. A two-story parking garage will be part of the mix.

One building will be on the water side of Third Street S. It will have office and retail on the ground floor, parking on the second floor and five condominiums each on floors three and four. Across the street will be an L-shaped building that has space facing Third Street S and 11th Avenue with 10,000 square feet on the first floor and three condominiums on the second. Behind that will be two 11-story condominiums. One will have 25 condominiums; the other 24 units.

Sizes of the homes will range from 2,000 square feet to more than 6,600 square feet, Carver said. Preliminary prices start at $600,000, topping out around $2.5-million.

[Last modified March 27, 2005, 00:34:19]