TBO.com - TBO is Tampa Bay Online

5-Star Ritz-Carlton Project Won't Be Built In Tampa

ADVERTISEMENT

By TED JACKOVICS | The Tampa Tribune

Published: September 23, 2008

TAMPA - Plans to build a Ritz-Carlton hotel and condominium project near the Courtney Campbell Parkway have fallen though, the owner of the project site said today.

Ben Wacksman, president of Capital Realty Investors and owner of the Radisson Bay Harbor Hotel, which occupies the site, said his company is planning a multimillion dollar renovation of the hotel. A new brand for the property will be announced in the near future.

The termination of the transaction between Tampa-based Capital Realty Investors and Sandip Patel, the Clearwater developer of the proposed Ritz-Carlton, was based on numerous factors, including timing and present market conditions, according to a Capital Realty Investors news release.

"I will let Mr. Patel speak for himself," Wacksman said.

Patel had not returned a call for comment by midday.

The Ritz-Carlton plans were announced in November 2007 and included a 269-room hotel and 176 condos. It was scheduled to open in 2011, according to a list of planned hotels on the company's Web site.

Local officials in the visitors industry had hoped the project would become the area's first five-star hotel that would attract more events, conventions and visitors to the Tampa Bay area.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT