Luxury shines through

The luxury apartment sector is in good shape in Tampa, at least with one of the latest projects to hit the market.

The project, The Fitzgerald Channelside, developed by Coral Gables-based FCI Residential Corp., opened in July and is already 62% leased, says Juan Porro, vice president of FCI Residential. Porro cites The Fitzgerald's blending of Miami Beach's Art Deco style with modern design and extravagant amenities as a key part of the strong interest. “It has more of a condo feel,” Porro tells Coffee Talk.

Other features of the project, Porro says, include porcelain tile throughout the units, including bedrooms; a short walking distance from garage spaces to residences; a large pool with an oversized deck; and an Uber lounge, where riders can wait for their pick up in a plush waiting area.

The developers call the Uber lounge the first of its kind in the country, while Porro says the company did a six-month study on where the sun shines outside before they built the beach-style pool entry. “That really gives it a cooler look,” Porro says.

The amenities cost more on the front end, but Porro says the mindset at FCI is to spend more early to outflank competitors. “We are long-term developers,” he says. “We have a lot of competitive advantages over merchant builders or flippers. We are going to own it, so we are not afraid to put money into it.”