Vidalta Property Management, an affiliate of multifamily real estate investment firm Eagle Property Capital (EPC) celebrated the grand-opening of Pelican Lake Apartment Homes, a new apartment community in Clearwater, Fla.
“We are excited to be opening this multifamily community to help meet the overwhelming demand for rental housing that continues to surge in the Tampa area,” said Vidalta’s SVP of Asset Management, Humberto Cubillos. “We are looking to make a positive impact in this community by offering superior housing and customer service to our future residents.”
At the July 29 Open House, Pinellas Park Mayor Sandra Bradbury and other public officials participated in a ribbon cutting ceremony and discussed how this conversion addresses the housing needs of the City of Pinellas Park, and learned more about Pelican Lake Apartments, formerly the TownePlace Suites by Marriott.
“I am excited to celebrate the grand opening of Pelican Lake at a time when the need for rental housing for moderate-income families in Pinellas Park has never been greater,” said Mayor Sandra Bradbury, Mayor for the City of Pinellas Park, FL. “Projects such as these lend to the revitalization of our community, strengthening families and neighborhoods.”
Pelican Lake Apartments is the result of the transformation of the former TownePlace Suites by Marriott St. Petersburg Clearwater, which EPC acquired in April, along with the adjacent Residence Inn by Marriott. EPC is investing approximately $3.5 million in renovations involving the interiors and improve the overall amenities, including a state-of the-art fitness center, an outdoor gym and dog park. In addition, the community will feature a 4,200 square-foot of retail space available for leasing. The company is actively looking to partner with a local farmers market or bodega concept for the submarket.
Located at 13200 49th Street N, Clearwater, the two properties combined will offer a mix of 183 studio, one- and two-bedroom apartments ranging from 500 to 850 square feet, with rents starting at $1,250/month, along with a host of high-quality amenities in a sanctuary-like setting just 1.5 miles from St. Petersburg/Clearwater International Airport, and 25 minutes from both downtown Tampa and downtown Clearwater. In addition, Vidalta is also offering some completely furnished apartment homes. The property welcomed its first residents on August 1, 2022.