Developer plans to revitalize Clearwater’s North Marina District
By Breanne Williams
Tampa Bay Business Journal
Published: Jul 27, 2022

A developer has plans to acquire 15 parcels in Clearwater’s North Marina District and transform the properties into a large mixed-use community.

RSR Capital Advisors, led by developer Rodney Riley who has spent his career largely focused on Florida, Arizona and Utah, has reached an agreement with multiple sellers to purchase the 15 Clearwater parcels, according to a release. The properties range from 0.3 to 3.5 acres and total approximately 21 acres. RSR is planning on closing on the first parcel this summer with the others anticipated to quickly follow.

“We’ve got a lot of compelling reasons why this makes sense,” Riley, principal and CEO of RSR Capital Advisors, told the Tampa Bay Business Journal. “Obviously the continued influx of people from the major cities around the country ... frankly, Clearwater is the gem. It’s still in its rough stages, but with Imagine Clearwater and the Bluffs development and what we’re planning on doing, honestly this side of the intercoastal in Clearwater is going to be a gem.”

Early conceptual plans for the district include mixed-use developments ranging from luxury condominiums close to the Dillion Clearwater Basin Marina and retail, office, a hotel, multifamily and workforce housing for the property further from the water.

RSR is working with global architecture and planning firm Gensler to “design, phase and sequence over $350 million worth of coming development to the Clearwater Marina District area.” BC Architects is also involved. The company is very early in the conceptual stage. Riley said they intend to have “significant public engagement” with the North Greenwood and downtown Clearwater communities to gauge priorities for the district.

Riley said this will be a phased project that he expects to unfold over the next five to 10 years. Currently, they are moving forward on three projects, the first of which is a 52-unit condo building adjacent to the boat ramp. He will submit a site plan for review shortly and intends to build two office projects, one specifically for a user and one speculative.

“There is no question that the kind of inflexible office space that’s been done for years just isn’t going to fly,” Riley said. “I absolutely believe in office; I believe companies will be in the office. What we’re seeing though is companies have to find creative ways to engage with employees and get them in the office through reimagined spaces and amenities that they would enjoy.”

The mixed-use office project would have retail on the first floor with office above; tentative plans for an outdoor space on the second level above the garage could be utilized by a restaurant or gathering space. According to Riley, it’s crucial to ensure that Florida and its unique charm are visible from all of the projects and — when the weather is enjoyable — to ensure the community and its connection to downtown are walkable.

The next phase would include more residential and potentially a boutique hotel; Riley said he has already engaged with an operator. The hotel would be built more than likely in conjunction with other condominium projects. There is also a parcel Riley said is “perfect for workforce housing.”

The properties are north of Clearwater’s Central Business District. RSR also submitted a proposal to the city to transform the nearby North Ward School at 900 North Fort Harrison Ave. The mixed-use office he intends to roll out in the first phase is on the same street as North Ward. He believes that could allow occasional street closures to “activate the entire street” for events like farmers’ markets and festivals.

As the plan continues to evolve, RSR intends to work with the new North Greenwood Community Redevelopment Area, which is in the planning and development phase and is expected to be adopted by the end of the year.

RSR will be the primary developer for the project, and Riley said he would bring people in “as needed” to create the walkable community.