As vertical construction begins, luxury tower tops $80 million in sales

From The Business Observer

Crews at Altura Bayshore have finished work on an on-site parking garage and construction is now shifting to the vertical portion of the project, this as 60% of the 23-story luxury residential tower has been sold, with sales topping $80 million.

Although the official kick-off for the next stage begins with a ceremonial groundbreaking April 6, work is proceeding at the site on Bayshore Boulevard in Tampa. According to an email from a spokesperson for the project, work is “now significantly underway on the main condo tower, drilling foundation pillars, connecting utility lines and beginning vertical construction.”

To accommodate construction, a new sales gallery will open May 1 at 3106 W. Bay to Bay Blvd. It will feature a full-scale model of the tower, full bathroom and example kitchens, and staffed with agents from Smith & Associates Real Estate.

Altura Bayshore is a 67-unit complex with six penthouses. Each unit has a private elevator foyer and ranges in size from 2,176 square feet to 3,575 square feet. Prices start at $1.7 million and top out at $3.6 million.

The first three levels of the tower will include a private lobby, reception area and welcome concierge desk along with an access controlled, resident-only parking garage. The fourth floor will have a dog park, pickleball courts, bocce courts, an outdoor pavilion and a bar.

The Ronto Group, the developer behind Altura, says the tower will be the only one along Bayshore Boulevard with an outdoor “rooftop experience” that includes a pool with lap lanes, rows of cabanas, an outdoor bar and a clubroom. Residents will have views of Hillsborough Bay and Bayshore Boulevard to the east, Old Tampa Bay to the west and downtown Tampa to the north.

Earlier this year, Naples-based Ronto closed on $75 million in financing for the project.

According to Hillsborough County records, the owners of Altura, The Ronto Group, signed a mortgage for the property Jan. 14. The financing is with MSD Partners, a New York investment firm.