Changes in store for Tampa condo project

Published December 16, 2005

The twin, 41-story O2 condo project in Tampa's Channelside District is being reconfigured and may get a new lead developer.

Ken Morin, a local partner in the residential project with Corvus International of Birmingham, Mich., said Thursday a contract is in the works that would bring in a new development partner. The agreement, Morin said, would buy out Corvus and area developer Frank DeBose, who had plans for a 53-story, space needle-type observation tower adjacent to the condos.

Neither DeBose nor Corvus returned calls seeking comment.

Morin, who said he would remain a partner in the O2 project, declined to name the new partner. But he said plans are being finalized to reconfigure the parcel across from the St. Pete Times Forum for three, 30-story condos and a hotel.

"It lets you phase in the project better," Morin said of the new, lower-scale design. "And you don't have to sell as many units to get to presales. Also, it brings cost down."

The new design and development partner should be finalized in the first quarter of 2006, Morin said.