Grand Central At Kennedy Recruits, Sells

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http://www.notthesuburbs.com/

By JANIS D. FROELICH [email protected]

Published: Feb 17, 2005

TAMPA - When developer Ken Stoltenberg and his partner, Frank Bombeeck of Mercury Advisors, began calling retailers to measure interest in their Channel District project, their calls weren't returned.

Now, almost two years later, Stoltenberg said retailers are calling them about leasing space at Grand Central at Kennedy.

``Retailers aren't pioneers,'' he said. ``But now that downtown Tampa and the Channel District are on everybody's radar screen with weekly announcements of new residential projects, their ears are perking up.''

Within the next six weeks, Stoltenberg plans to announce a grocery store coming to his 393-unit Grand Central at Kennedy, between Kennedy Boulevard and Madison Street.

He and his partner have sold 266 units since converting reservations to contracts. The units range from 600 to 2,200 square feet and cost between the high $100,000s to $500,000. Most are less than $300,000.

The midrise office, retail and housing community will have two buildings, one at 14 stories, the other at 12 stories. Roof decks have swimming pools, running tracks and private terraces and cabanas.

Stoltenberg said the 20,000- square-foot office and 125,000- square-foot retail will serve the community, as well as tenants. He's working to sign restaurants, a dry cleaner, coffee shop, plus a drugstore.

The groundbreaking should be within the next two months.

Stoltenberg said the majority of his buyers are 28 to 32. ``I was really surprised those interested were a little bit younger than I first thought,'' he said. ``We even have some under age 25.''

Grand Central at Kennedy is one of the first larger projects to go into the Channel District.

Stoltenberg said the sales center at 1208 E. Kennedy Blvd. will remain open through construction of the 4.35-acre property.

Information is available at www.notthesuburbs.com.

Reporter Janis D. Froelich can be reached at (813) 259-7143.

http://www.tampatribune.com/News/MGB4YJHDA5E.html