Last night the Grand Bohemian hosted a reception at their sales office in St Petersburg, Florida. The St Petersburg Times recently reported that the Kessler Group had submitted to the City of St Petersburg their proof of financing for the Grand Bohemian Hotel and Condos project in downtown St. Pete. This step was required in advance of their closing on the property on the northwest corner of 2nd St and 1st Ave N, which is scheduled for August 15th.
Tami and I are in California and could not attend, so Rob and Amy represented The Simms Team at that gathering. The sales group had new marketing kits and are showing renewed energy with this new milestone behind them. Since the site is only a block from our office (and across the street from the Starbucks we frequent) we'll be watching every day for the start of construction.
Pinellas County has several condo-hotel projects (where individual hotel suite are individually owned, then generally part of a rental pool) but this one features several floors of luxury condominiums over the floors of hotel rooms. There are separate entrances but shared amenities. This type of project sells in other areas at premiums of 25% to 100%. The Four Seasons and the Ritz-Carlton are developing many properties of this type around the world.
Hi:
The Grand Bohemian will be an amazing addition to downtown St. Pete. The design is incredible!
Phil