TBO.com - TBO is Tampa Bay Online

Waterfront Condo Plans Put On Hold

ADVERTISEMENT

By SHANNON BEHNKEN | The Tampa Tribune

Published: October 19, 2007

The painful housing market has claimed yet another condo project, at least for now.

There were great hopes that New Port Tampa Bay, a 54-acre 1,200-unit waterfront development, would help revitalize parts of South Tampa.

The developer, Tampa-based EcoGroup has been unable to obtain financing, however. Plans are now on hold, said Ed Oelschlaeger, president of the company.

Eco has refunded buyers' deposits and canceled more than $50 million in purchase contracts.

New Port, at the corner of West Shore and Gandy boulevards, has been in the works for more than two years. Sales were launched early last year at an elaborate party at the site.

Oelschlaeger said the company still wants to build but will redesign the units and lower the price range.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT