Treasure Island’s iconic Thunderbird Beach Resort could be rebuilt bigger than before
/After suffering major hurricane damage last year, Treasure Island’s iconic Thunderbird Beach Resort will be completely demolished and rebuilt, potentially larger than before, while preserving its nostalgic charm.
The city’s Planning and Zoning Board unanimously approved a site plan last Thursday for a new four-story resort that will replace the 68-year-old property at 10700 Gulf Boulevard.
As first reported by St. Pete Rising, the rebuild calls for one single U-shaped building to house all 106 hotel rooms—the same number as before—on three levels above a 124-space surface parking lot beneath the structure, along with a 1,750-square-foot lobby and office space.
The resort’s appearance is expected to change significantly, but the Thunderbird name and its historic neon sign will remain.
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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.