(Carl Cronan is editor of Real EstateFlorida.)
TAMPA, FL-A 150-room Holiday Inn Hotel & Suites is putting commercial development plans into motion at Alafia Crossing, a $98-million mixed-use project on the city's east side. Three of the development's five planned restaurants have been secured, adding to the hotel's own food and beverage offerings.
Sarasota-based American Hotel Development Partners is developing the six-story Holiday Inn prototype at an estimated cost of $14 million. Clyde Harris, ADHP president, tells GlobeSt.com that he expects Alafia Crossing to attract an affluent clientele from more than 100,000 residents counted within a five-mile radius.
"On-site business include a prominent real estate company, a national management company, and attorneys, designers and healthcare professionals," Harris says. "These, combined with the strong surrounding business community and leisure seekers, will all drive occupancy at the hotel and fill the restaurants."
Alafia Crossing will draw directly from residents of a 351-unit upscale apartment complex called the Preserve at Alafia, according to Lawrence Bauman, the project's general partner and COO. New restaurant offerings will include Jasmine Thai, Mama's Pasta Bowl and Cuppy's Coffee.
"We envision excellent synergy between the hotel, the restaurants, the on-site population and the greater Tampa area," Bauman stated in a release. "The Alafia location is ideal for South Shore residents looking for a truly full-service neighborhood base where they live."
Alafia Crossing is being developed in the northeast quadrant of Interstate 75 and Gibsonton Drive, adjacent to the 80-acre Alafia Preserve. Jeff Justice of Garrison Developer Group of Florida is handling commercial leasing for the project.
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