Luxury vacation homes coming to Clearwater Beach
By Breanne Williams
Tampa Bay Business Journal
Published: Feb 17, 2023

Four luxury vacation homes will soon be filling a vacant site on Clearwater Beach.

Clover Investment Properties, in partnership with One of One Hospitality, a joint venture vacation management platform by Tampa real estate venture capital firm LOCI Capital and Spottswood Companies of Key West, is leading the development. The three investment firms — all of which are led by Florida natives — have been working in Florida for decades.

The development, called the Somerset Beach vacation home project, is 125 feet from the beach. The lot, located at 668 Mandalay Avenue, has been vacant for more than 15 years, according to a release.

The 13,700-square-foot project will have four units — averaging 3,400 square feet each that each have six bedrooms, six and a half baths, a full chef’s kitchen, exterior lounge space, an individual pool and luxury finishes.

The homes were designed by Tampa-based Luttrell Architecture and are being constructed by St. Petersburg-based Canopy Builders. The developer said the project to be complete and ready for move-in by late 2023.

According to a deed filed in Pinellas County, an LLC linked to Clover Investment Properties purchased the vacant lot in December 2021 for $4 million. The vacant lot is currently zoned to allow up to 12 units on the site. However, the developer decided the neighborhood would “be better served” with a smaller footprint.

The luxury vacation homes will be built adjacent to the Cambria Clearwater hotel and are across the street from Hotel Cabana Clearwater Beach.

Approximately two blocks away, Casto Vacation Properties is proposing building resort townhomes on a vacant parcel on Mandalay Avenue. According to plans filed with the city, each six-bedroom townhome will have its own pool and roof deck.

In March 2022, Casto filed plans with the city to build similar townhome-style vacation rentals at 692 Esplanade Bay.

There are few vacant parcels left on Clearwater Beach — which has seen an explosive wave of tourism in recent years. Plans for luxury condominiums are in the works for the majority of remaining vacant parcels throughout the area.