The Collier Companies acquired Sunset Square Apartments from Blackhawk Realty Advisors for $6.4 million on June 25, 2014. Franklin Street represented the buyer and the seller. The 100-unit conventional community is located directly across the street from the University of South Florida. “We plan to redevelop the existing site through a new construction build out,” says Jennifer Clince, COO of The Collier Companies. The 183-unit community will be comprised of a variety of floor plans with an overall make up of 653 beds. The new community is not yet named, although it is likely the name will include ‘Icon’ in some shape or form, Clince says. Sunset Square was originally built in the 1960s and is adjacent not only to the USF campus, but also to the James A. Haley Veterans Hospital.
The new development project is expected to exceed $40 million and will be completed by the summer of 2016 to open prior to fall of 2016. “The revitalization of this land area in the East Tampa USF neighborhood will promote premier housing opportunities for students and medical personnel alike next door to USF medical programs and local medical facilities,” Clince says. “The adjacent sky bridge access to campus and hospitals is a plus.” The community will marry study/work and play with nearby retail accessibility. “This is a very exciting project in a strong market in which we hold a long term presence,” Clince says. “We look forward to continued success and participation in the growth and development of the area.” Download PDF