Six-story Marriott hotel planned for Madeira Beach tweaked after city feedback
/New renderings offer a more detailed and colorful look at a new boutique hotel planned for Madeira Beach.
Local developer Bill Karns, who is also leading the Madeira Beach Town Center project, has partnered with Marcus Winters, owner of Caddy’s, to propose an 87-key hotel across from John’s Pass Village and Boardwalk.
The project is planned for the southeastern corner of 129th Avenue East and Pelican Lane on a 1.5-acre parcel owned by Karns that is currently being used as a 180-space surface parking lot.
The hotel would operate under Marriott’s Tribute Portfolio, a collection of independent boutique properties designed to reflect the character and history of their surroundings.
Working with the city’s planning department, Karns and St. Petersburg-based Place Architecture revised the original design, which was announced by St. Pete Rising last July, and presented updated plans at a neighborhood meeting last November.
The initial concept called for a white, modern building with columns. The revised plan has a more traditional “fishing village” aesthetic, featuring colorful exterior paint and paneling similar to the storefronts and restaurants along the John’s Pass boardwalk.
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Several prominent properties in the EDGE District have sold for $12 million.
According to a deed recorded October 6th, developer PTM Partners sold the three-story building at 1246 Central Avenue and the street-level retail spaces at the adjacent Moxy hotel to L3 Capital, a Chicago-based private equity real estate investment firm that focuses on urban retail.
The 27,261-square-foot building at 1246 Central Avenue is home to Bosphorous Turkish Cuisine and Amorino Gelato on the ground floor. Digital marketing company WebFX has signed a lease for the third floor but has not yet moved in, while the approximately 8,700-square-foot second floor remains available for office tenants.
The sale also includes the Moxy hotel’s 3,407 square feet of ground-floor retail space, occupied by Floyd’s Barbershop and Solidcore. It does not include the 163-room Moxy hotel itself, which remains part of PTM Partners’ EDGE Collective development.
James Garner and Jim Shiebler of CBRE represented PTM Partners and L3 Capital in the transaction.