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PO Box 1212 Tampa, FL 33601 Pinellas Updated January 2006
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Condo Developer Has Royal Plans For North Franklin
TAMPA - A proposed 27-story condo project has the potential to change Tampa's skyline while breathing new life into Franklin Street.
Harry Hedges, managing member of H&R Florida Properties, plans to build a 182-unit condo tower, with 12,000 square feet of retail space and a high-end spa.
The building, slated for Franklin and Harrison streets, will be called The Royal.
"It's close to the performing arts center; it's close to the library - all the things you want in a metropolitan area," Hedges said. "Finally, we realize that bringing residential into downtown Tampa means so much to developing a livable city."
The Royal is the latest condo project planned for the once-bustling downtown corridor.
Now, many buildings sit vacant. Hedges said he hopes his project and others like it spur other landowners to develop their properties or sell to someone who can.
Wood Partners plans to turn the Maas Bros. building on Franklin Street into a 450-unit condominium with 12,000 square feet of retail space on the ground floor. The building will be 33 stories.
The Arlington Hotel, on Franklin between Fortune and Royal streets, is being transformed into condos and offices. The Residences of Franklin Street is another condo project blocks from the new SkyPoint condominiums.
A developer plans three condo towers for the Kress and Grant blocks, bringing 975 units to the strip.
In all, about 1,400 units are either under construction or planned for the North Franklin area, according to the Tampa Downtown Partnership.
"It just proves that North Franklin is developing into another residential community for Tampa," said Paul Ayres, the partnership's director of marketing and business development. "Franklin will turn back into the heart of the city."
Redeveloping Franklin Street has been a priority of Mayor Pam Iorio's administration. Iorio wants more people on the streets after dark, and bringing residences and shops to Franklin is one way to do it, she has said.
Hedges' daughter, Leslie Shirah, plans to open Fly Bar & Restaurant on Franklin Street in June. The restaurant will be open late and feature live music.
At the Royal, the smallest units will be about 650 square feet. The penthouse will be about 3,800 square feet. The average cost, per square foot, is $370.
Hedges hopes to break ground next year.
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