Developer to build ‘affordable’ luxury condos in downtown
Clearwater real estate group Valor Capital plans to build a new luxury residential project in downtown St. Petersburg.
The developer, which specializes in luxury residential projects, will build a mixed-use development with future condominiums that will “represent the epitome of luxury living at two-thirds the cost of comparable development,” according to the team’s announcement this week.
Valor Capital is the same group behind Serena by the Sea, a $70 million, 80-unit waterfront condo development between downtown Clearwater and Dunedin. It also developed SkyView, a 36-unit condo building in Clearwater.
Valor Capital did not disclose the exact address of the St. Pete site, but stated it was near the Dali Museum; however, the group owns a parcel near 4th Street and 4th Avenue South, which is currently developed and is not in the immediate vicinity of The Dali.
The team said it is leveraging the relationships it has cultivated with supply companies and European designers that provide high-scale finishes at a fraction of the cost to deliver the “affordable” yet luxurious development.
Valor Capital did not reveal the pricing of the condo units.
The team also promises to deliver resort-style amenities and top-tier restaurants and retail.
“Our development team is always on the lookout for up-and-coming areas like St Petersburg that are bursting with arts, culture, high-tech industry, and a flourishing atmosphere of unrestrained opportunities,” Valor Capital CEO Moises Agami said in a prepared statement. “Our vision is to create world-class real estate developments that benefit homeowners, investors, and the community with holistic designs that are visually striking and harmoniously complement its surroundings.”
Valor Capital didn’t disclose a timeline for the St. Pete project.
The team has more than 35 years of international building experience and has developed more than $1 billion in properties around the world, according to its website.
May 9, 2023at8:16 pm
So are they going to be affordable for lower income people or are they a million dollar dollars like so many others!
May 10, 2023at7:38 am
Luxury is not affordable.🥴🥴🥴
Theresa L Michaels
May 11, 2023at12:38 pm
How affordable? .. it seems that luxury isn’t affordable .. we need real affordable housing for people on fixed incomes. All the affordable is becoming not affordable
May 15, 2023at9:51 am
When is the project starting and what are the prices?