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The New Clearwater Marina District

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Aerial photo of Clearwater Marina District in Clearwater, Florida.

Our Vision

RSR Capital Advisors’ goal is to transform the Clearwater Marina District into a vibrant, diverse neighborhood that will enrich and enhance the City’s downtown.

Whether to live, work, or play, the Clearwater Marina District will feature world-class residential, office, and retail space that honors the rich histories of Clearwater’s North Greenwood neighborhood and Marina District area while looking towards a creative and exciting future.

Planned uses for the 15 parcels being acquired by RSR Capital Advisors:

  • Mixed Use Commercial and Residential
  • Office
  • Retail
  • Luxury Hotel
  • Luxury Condominiums
  • Multifamily Residential
Map of Clearwater area with square highlighting Marina District.
Map of Clearwater Marina District with numbers highlighting planned development areas.

Preliminary plans include: office, retail space, condominium, and senior housing

Future Development

Future Development

Office

Luxury Condominium

Mixed Commercial Use

Mixed Commercial Use

Mixed Commercial Use

Future Development

Luxury Condominium

Future Development

Future Development

Future Development

Workforce Housing

Townhomes

Future Development

Real estate developer Rodney Riley standing on balcony overlooking Clearwater marina and intercoastal waterway.

About

RSR Capital Advisors is headed by veteran real estate developer Rodney Riley.

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Throughout his career, Riley has worked with international powerhouses and entrepreneurial firms. His experience has focused on the Sun Belt states from North Carolina to New Mexico with substantial development in Florida. The major cities in which Riley has developed include Winter Park, Coral Springs, Palm Coast, Orlando, Naples, and Boca Raton, Florida; Scottsdale and Mesa, Arizona; and Salt Lake City and Park City, Utah. Riley has moved from Scottsdale, Arizona to dedicate his time and efforts to this project and is quickly becoming ingrained in the Clearwater community.

In the News

Column

Opinion: Consider visiting downtown Clearwater to see revitalization efforts

For years, downtown Clearwater has been known as a place where you’ll find empty storefronts, very few pedestrians and limited options for shopping or going out to eat. That’s about to change in a big way, though. And it’s time for the Tampa Bay area’s business community to take notice and consider Florida’s 19th-largest city as a place to do business and make investments... Read Rodney Riley's column in The Tampa Bay Business Journal

News

First new project in Clearwater Marina District will be a 52-unit luxury condominium community

RSR Capital Advisors has announced its first development project in the new Clearwater Marina District – a 52-unit luxury condominium community that will be built with the high-end buyer in mind.

 

Construction documents are well underway for the project at 708 Osceola Avenue, which is expected to include both designer-ready shells and move-in ready units, with pricing expected to start at $1.2 million. Residents will enjoy waterfront views of the Intracoastal Waterway, a pool/cabana area, a fitness and activity center, a golf simulator, beautiful interior finishes and other high-end amenities.

 

RSR Capital Advisors expects to break ground on the project in early 2023, with plans calling for presales to begin next fall, and completion in the Summer of 2024.

 

“We expect this project to be the next successful luxury condominium development in Clearwater,” said Rodney Riley, Principal and CEO of RSR Capital Advisors. “With a terrific location on the Intracoastal Waterway, combined with all the amenities high-end condo owners expect, we believe this community will be a hit with buyers.”v  

RSR closed on the land purchase for this property this week. Kast Construction will be the general contractor, with BC Architects doing the design and Kimley-Horn handling engineering. RSR will be partnering with a luxury real estate company in coming months to handle sales, while RSR works with Gensler and B2 Communications to create a brand and name for the community.

 

While higher mortgage rates are impacting lower- and mid-priced properties in the west Florida real estate market, interest in luxury properties remains high, as evidenced by the recent sellout of the Serena by the Sea condominium community on Sunset Point Road, just north of the Clearwater Marina District.

 

“People are continuing to move to Florida and buying higher-end properties,” Riley said. “We also expect to get demand from people who are in older high-end homes in areas like Belleair and Clearwater Beach who would like to be in a brand-new, best-in-class condo on the water.”

 

Elsewhere in the Clearwater Marina District, RSR has reached agreement with multiple sellers to purchase a total of 15 aggregated parcels ranging in size from 0.3 to 3.5 acres, in a site area that includes 21 total acres. RSR expects to be closing on other parcels in coming months as the project continues to take shape.

 

About RSR Capital Advisors:

RSR Capital Advisors, based in Clearwater, Florida, is headed by veteran real estate developer Rodney Riley, who has developed projects across the United States. Throughout his career, Riley has focused on the Sun Belt in such cities as Naples, Coral Springs, Orlando and Winter Park in Florida; Scottsdale and Mesa in Arizona; and Salt Lake City and Park City in Utah. The company believes in creating vibrant, engaging spaces for people to live, work and play, while considering the needs of nearby neighborhoods, particularly those in underserved areas. For more information about the company and the Clearwater Marina Project, visit TheClearwaterMarinaDistrict.com.

Blog

Hurricane Ian’s impact on Florida real estate

By Rodney Riley

As Southwest Florida starts to recover from Hurricane Ian, how will the storm impact a real estate development industry already challenged by inflation, labor shortages and supply chain issues?

The short answer: Projects around the state will still get done. But to be successful, they will need to be priced right while reflecting smart planning for continued cost increases.

Certainly, a storm of Ian’s magnitude will have short-term impacts as rebuilding efforts divert labor and material resources from other parts of the state.

But as RSR Capital Advisors prepares to launch development work in the Clearwater Marina District, we expect demand for quality residential and commercial projects to stay strong. It’s been shown over the years that people continue to move to Florida despite the annual threat of hurricane season.

In terms of residential demand, we are seeing a softening in the market due to higher interest rates, as lower- and mid-price buyers get turned off by the prospect of a higher mortgage payment. But we are not seeing that same level of impact at higher price points, where buyers are less rate-sensitive in their buying decisions.

It’s important to note that while the new home market overall is softening, we see no sign of a significant downturn. Here’s a way to look at it, based on our conversations with other industry professionals: Instead of 10 potential buyers waiting for a new home to be built, now there might be two or three, which is still a positive.

And if the new-home market stays in growth mode, the commercial real estate market can also be expected to keep growing, whether it’s more distribution centers for deliveries or new stores for shopping.

As developers plan new projects, they must account for continued cost increases, given that supply chain issues and inflation show no sign of going away anytime soon. Working with quality architects, planners and construction companies is essential, because budgeting has become more challenging than ever.

If there’s any overall good news as the state deals with one of its worst hurricanes in recent years, it would be this: Building standards are working. Again and again, we see photos of Hurricane Ian’s devastation where older structures were swept away while newer structures stood up to wind and flooding.

It’s essential that the state continue this trajectory, which over time will mean that more buildings are constructed to stand up to the worst a storm can offer.

~ Rodney Riley is Principal and CEO of RSR Capital Advisors and has over 30 years of industry experience. RSR is a full-service commercial real estate investment firm focused on investment and development with equity tranches of $5 to $50 million in the United States. 

Contact Us

The New Clearwater Marina District






    News Media Inquiries

    Kyle Parks

    B2 Communications

    [email protected]
    727-895-5030

    Office Ext. 101