RSR Capital Advisors is purchasing 15 parcels in Clearwater Marina District, with plans to transform the area
Developer plans a wide range of uses, from luxury condos and hotel to retail and workforce housing
CLEARWATER, Fla. (July 26, 2022) – RSR Capital Advisors is acquiring 15 parcels in the Clearwater Marina District, just north of downtown Clearwater, with plans to transform the sleepy district into a vibrant, walkable area with a wide range of options for residents to live, work and play.
Early plans for the parcels vary from luxury condos close to the Dillion Clearwater Basin Marina to such uses as retail, office, a hotel, multifamily and workforce housing for sites further off the water. RSR is working with global architecture and planning firm Gensler to design, phase and sequence over $350 million worth of coming development to the Clearwater Marina District area.
“The Clearwater Marina District gives us an opportunity to create an inclusive, attractive area that will be tremendous to visit or to live,” said Rodney Riley, Principal and CEO of RSR Capital Advisors. “The area is close to both downtown Clearwater, Dunedin and all the attractions of Clearwater Beach. We are thrilled to create a vibrant mixed-use district where people can live, work, eat, and play - we see Clearwater as the next ‘hot market’ whose time has come.”
RSR has reached agreement with multiple sellers to purchase 15 aggregated parcels ranging in size from 0.3 to 3.5 acres, in a site area that includes 21 total acres. RSR plans to close on the first parcel this summer, and the company will be closing on the other parcels in coming months as the project takes shape.
The properties are just north of Clearwater’s Central Business District, along North Osceola Avenue, North Fort Harrison Avenue and North Garden Avenue, and offer a good opportunity for new development because most of the parcels are currently vacant.
RSR’s Riley, who moved full-time to Clearwater in January of this year from Scottsdale, Arizona, is a veteran real estate developer. RSR is backed by institutional and private investors who have followed Riley on projects around the country.
As plans take shape, RSR will put a particular focus on working with the new Community Redevelopment Area in the North Greenwood area, located just east of the Clearwater Marina District, to ensure that the development plans benefit the neighborhood with such needs as workforce housing.