Dr. Kiran Patel sells Indian Rocks Beach waterfront site for $16M after condo plans stall
/Clearwater-based real estate firm Prometheus Partners, which has been steadily scooping up sites along St. Pete’s Salt Creek, has made another land purchase — this time in Indian Rocks Beach.
Prometheus purchased the vacant parcels at 400, 404, and 408 Gulf Boulevard for $16 million from prominent Florida physician, entrepreneur, and philanthropist Dr. Kiran Patel, according to a deed recorded on Tuesday.
The 0.97-acre property, which is located across from the original Crabby Bill’s, was formerly home to the 45-key Gulf Towers Motel, which was demolished in early 2023.
Dr. Patel purchased the site in 2005 for $9 million, with plans to redevelop it into an eight-unit condo community called Sai Ocean Front Residences.
Pre-construction sales kicked off in 2024 with pricing starting at $6 million per unit.
However, Patel opted to list the property in September 2024 to focus on other endeavors, listing agent David Grieco told St. Pete Rising.
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Golden Corral is returning to Pinellas County with plans for its first St. Pete restaurant inside the former Hooters at Tyrone Square Mall.
The popular American all-you-eat buffet chain will open at 2250 Tyrone Boulevard, according to plans submitted to the City of St. Petersburg. An opening date has not yet been announced.
The 8,105-square-foot restaurant will take over the building where Hooters operated for 15 years, from 2006 until late 2021. At the time, the chain cited changes in shopping habits and declining mall foot traffic in announcing the closure.
The new Golden Corral will be operated by franchisee Britt Guyer, who owns Golden Corral restaurants in Winter Haven and downtown Tampa. Guyer was not immediately available for comment.