Downtown Clearwater – Boomtown USA

With US residential real estate basically at a standstill, 2006 and the first half of 2007 have proven to be a very dynamic time for downtown Clearwater, Florida. Many public and private developments have gotten off the ground.

During 2006, two major mixed use real estate developments broke ground and are now well on their way. Located on Clearwater’s beautiful bluff, over looking the breath-taking intercoastal waterway is Water’s Edge. Developed by Opus South, Water’s Edge is a 153 unit mixed use property with approximately 10,000 SF of retail space. It is scheduled for completion later this year.

Also in 2006, the luxurious Station Square broke ground. Located in downtown Clearwater, adjacent to downtown’s historic post office, Station Square is a mixed use residential development consisting of 126 units, including 16 penthouse units. The developer of Station Square is the world renowned developer from Australia, Felix Anon.

In July, 2006, the City of Clearwater commenced construction of the beautiful $9.3 million streetscape project. With the first section complete (exclusive of landscaping), the second section is schedule for completion June 15, 2007. The last and final section is scheduled for completion by the end of the year. All landscaping will be completed when the extensive road work is complete. One can see at this time what a beautiful impact streetscape will have on downtown Clearwater.

There is much going on during 2007 as well. Construction has commenced on the Clearwater Centre development which is located at 600 Cleveland Street. This 71 unit high rise residential development, which will contain a retail component as well, will bring a lot of energy and excitement to this section of downtown.

Triangle Development hopes to break ground on their beautiful mixed use residential development, Island View, located on North Ft. Harrison over looking Clearwater’s intercoastal waterway. The first phase contains 109 luxury units and many prospective residents have already contracted to purchase their future home.

In July 2007 construction will start on what will be downtown Clearwater’s only major hotel, Residence Inn by Marriott. The developer is Clarkson Group, a Marriott franchisee based in Jacksonville. The 115-room Residence Inn by Marriott is situated on a 2.22-acre triangular site at 940 Court Street. It will be one of the first buildings westbound motorists will see on their way to downtown.

In March, the citizens of Clearwater voted to allow the City to build 129 boat slips along the intercoastal waterway, at the base of Cleveland Street. At a cost of approximately $11 million, construction is scheduled to start this year and will be completed the first quarter of 2009. This will be a catalyst for visitors to come from the entire Bay area and enjoy the downtown shops, restaurants and entertainment.

In summary, one can see that downtown Clearwater is literally booming. The combination of public and private development is making downtown Clearwater a place for everyone to enjoy.