Pelican Lake Apartment Homes Begins Leasing for Now-Open Phase II, Launches Resident Cash Back Rewards Program
Residents can earn hundreds of dollars in cash back simply by paying their rent on time

By Post
Tampa Bay Newswire
Published: Oct 10, 2023

Clearwater, Fla. (October 10, 2023) – Vidalta Property Management, an affiliate of multifamily real estate investment firm Eagle Property Capital (EPC) announces the opening of phase II and has begun leasing of Pelican Lake Apartment Homes, a new apartment community in Clearwater, Fla. As Tampa Bay remains one of the most competitive rental markets in Florida, the company is now offering a unique incentive program, awarding leaseholders extra money when they pay their rent on time (within the first three days of the month).

Residents receive a debit card where they earn up to 7% in cash back rewards that can be used towards paying future rental payments or purchasing other items. Once a leaseholder pays their rent on time, a 7% credit from that lease total will be added to their debit card to utilize as they see fit. The incentive remains in effect for the duration of a resident’s lease.

“We are excited to be opening the second phase of this community after such a successful lease-up of the initial phase,” said Vidalta’s SVP of Operations and Asset Management, Humberto Cubillos-Uejbe. “We are very happy to be able to provide much-needed apartment homes for rent to help reduce shortages and support the high demand for housing in Pinellas County, all while offering a financial incentive to our residents with the innovative cash back reward program to promote healthy tenant habits and create loyalty with the residents that choose to live in our community. This is a win/win for all.”

Pelican Lake Apartments is the result of the transformation of the former TownePlace Suites by Marriott St. Petersburg Clearwater, which EPC acquired last year in April, along with the adjacent Residence Inn by Marriott.

EPC made a multi-million dollar investment in renovating all facets of the property, as well as improving the overall amenities. The final renovation phase will include a state-of-the-art fitness center, an outdoor gym, and a dog park. In addition, the community features 4,200 square feet of retail space available for lease for a grocery or neighborhood convenience market. The company is actively looking for a partner for the convenience store or small submarket.

Located at 13200 49th Street N, Clearwater, the two properties combined offer a mix of studio, one- and two-bedroom apartments ranging from 500 to 850 square feet, with rents starting at $1,336/month, along with a host of high-quality amenities in a sanctuary-like setting. The various floorplans offer spacious living areas, stainless steel appliances, granite or quartz countertops, and generous storage space. The community is located within 1.5 miles from St. Petersburg/Clearwater International Airport, and 25 minutes from both downtown Tampa and downtown Clearwater.