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Massive Pinnacle Place breaks ground

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bobliocatt

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Channel District

Crews clear ground for huge condo complex

pinnacle2.jpg

The project will include a 53-story observation tower and residences starting in the mid $300,000s.

By JANET ZINK, Times Staff Writer

Published February 4, 2005

Construction crews have started clearing the site for Pinnacle Place, a 6-acre residential/retail complex that includes a 624-foot space needle.

Two 41-story condominium towers, dubbed 02, will be the first phase of the project.

A sales center for the 340 condos will open at Channelside Drive and Cumberland Avenue in the next two months, real estate agent Toni Everett said.

In the past three months, about 120 potential buyers have reserved units, Everett said. Prices on the one- to four-bedroom condos range from the mid $300,000s to $2.8-million.

Construction of the towers and the needle is expected to begin late this year and be done by late 2007, the developers say.

The condominium complex will include a swimming pool, fitness center, movie theater, game room and guest suites.

The observation tower, called the Pinnacle of Tampa Bay, will be the centerpiece of Pinnacle Place, a $500-million project. Standing about 53 stories tall, it will have a restaurant overlooking the city and rooms available for private parties.

"We're going to change the skyline forever," said Ken Morin of Morin Development Group, one of the developers behind the project. "It's the type of project that Tampa has never seen before."

Frank DeBose, president of Pinnacle Group Holdings and one of the project's developers, has been pushing plans for the needle for more than 10 years. The recent redevelopment of downtown Tampa, which includes thousands of residential units, made the timing right.

"All that you see happening in downtown is not happening by accident," he said. "All around the state of Florida, you have people moving back into downtowns."

Pinnacle Place also includes a hotel, parks, amphitheater and 100,000 square feet of retail space underneath residential lofts.

In July, Pinnacle Place Development Partners paid $14.5-million for the land. The partnership includes the development firm of Corvus International, which has offices in Michigan and Sarasota.

Corvus also is developing a 170-unit condominium project with boat slips in Palmetto and five buildings with 29 condos on the Gulf of Mexico in Longboat Key. Corvus builds about 1-million square feet of industrial, high-tech and office space a year in the Midwest, according to a press release.

Morin's projects include Walter's Crossing, a shopping center on the former Walter Industries site at Dale Mabry Highway and Interstate 275 anchored by Target, Linens 'n Things and Designer Shoe Warehouse.

Morin's Suncoast Crossings, a 689-acre master-planned community at the Suncoast Parkway and State Road 54, will have 1,300 single- and multifamily homes, 500,000 square feet of retail space and 1-million square feet of office space.

Janet Zink can be reached at 226-3401 or [email protected]

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I-275westcoastflorida Whistle-Stop

I-275westcoastflorida

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IMO the tower needs to be taller than that. With all the development going on, this thing is not going to be the landmark it could be. It will just barely peek over some of the new things (i.e. Trump Tower and others) which will be about the same height...

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It really doesnt need to be taller then all others there are some cities that have succesful observation towers like dallas 42 story tower the reunion tower which is 42 stories and a famous landmark. Height isnt always the most important. Anyway i cant wait to go to the tower when its done as always tampa is changing

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GRS328 Whistle-Stop

GRS328

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I for one think the observation tower is an eyesore. I wish they could make it more appealing. Do something like the Space Needle, or Sydney Tower, or even the CN Tower.

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I agree. The tower is very ugly. It looks like a building on a stick. The base should have some more aesthetic to it, architecturally. It's way too bland. I don't really like these needle tower buildings as a whole... but if you're going to do one, do it better than that.

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moxwax Unincorporated Area

moxwax

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And actually the pinnacle tower is supposed to be the tallest thing in Tampa according to this site?

just type in Tampa in the city box

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Yeah it's the tallest at the top of the spire, but look at where the observation deck is. It's lower than the top floors of some of the existing structures, and when TTT and the four seasons, and maybe the proposed hillsborough river tower go up, the observation deck will be quite pathetic. There are better views from the top of 100 N. Tampa right now...

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jasonhouse Crossroads

jasonhouse

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And actually the pinnacle tower is supposed to be the tallest thing in Tampa according to this site?

just type in Tampa in the city box

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No, the proposed Four Seaons will be 6ft taller.

There are presently 4 projects proposed for Tampa which would be 600ft+, and thus exceed 100 N Tampa if built. However, one of them is dormant, (Hillsborough River Tower), so who knows when if ever it will be built. It does look like the other 3 are sure things, and just a matter of time.

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tambay Crossroads

tambay

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They have been clearing the land for the last few weeks. The old tribune warehouse is gone and now there is a pile of dirt about 15-20 feet high. Behind the dirt, the land is pretty clear. I don't know when they will start construction, but the land will be cleared and ready pretty soon.

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robbie Unincorporated Area

robbie

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I haven't seen alot of activity there in several weeks. I wonder what's going on.

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Drove down there yesterday. There are piles of rubble and dirt on the property. I didn't see anybody working and it was a perfect day (weather wise). They put a fence around the perimeter of the property and a light blue see-through banner with 02 on it all along the fence. BTW not only will 02 be tall, but it will take up quite a lot of land at its base. Meridian Street is going to be a red hot ride through Channelside when it is done. There were about four trucks and some dudes at the Towers of Channelside site but I don't know what they were doing. If I had to guess, the towers will be coming out of the ground first, then 02. As for Crescent Heights, that may be more of a reality than downtown Channelside. Also, there has not been much media information about Four Seasons, so it may be a dead deal. Hillsborough River Tower...forget about it! If Tampa can maintain the condo demand then that would be a great place to build one. Back to the building process, it seems like it takes forever just to do the demolition. Then there is this long time before you see the trucks, concrete and steel. Once you see the cranes, then you know it's real. In the Tampa Trib today, there was a small mention that the Bellamy on Bayshore is sold out. There is no more land on Bayshore to build on so lets hope for more big & I mean BIG, NOT scaled down condos for downtown and Channelside.

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TallTampa Unincorporated Area

TallTampa

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They aren't building the observation tower it's called o2 condos www.o2condos.com  :(

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I'll bet there have been at least a dozen or so observation towers that have come and gone in the last 10 -15 years in downtown. The best spot (imo) for something like this would be in the lot behind the Forum. You'd have great views of Bayshore, Harbor Island, Dowtown and Channelside. Just a thought.

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depechecureguyorl Whistle-Stop

depechecureguyorl

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They aren't building the observation tower it's called o2 condos www.o2condos.com  :(

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IMO, Thank goodness! That tower would have been the ugliest building in downtown Tampa. I'm glad they scrapped those plans. The finished buildings, on the other hand, should add dramatically to Tampa's already impressive skyline! On a side note, the winning architects are from an Orlando firm...maybe something similar will come to our side of I-4!

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