Clearwater Beach Florida Condos – What’s Happening with New Construction?

Clearwater Beach Florida Waterfront Wednesday Report

Clearwater Beach Florida – This week I was asked what’s up with the new Clearwater beach condos that were to be built? Where do they stand now? So I thought I’d give a detailed update for many of our readers who may be wondering the same thing…

There were 4 main luxury condo projects on Clearwater Beach that come to mind and since it’s Waterfront Wednesday I thought it would be the perfect topic to update you on today.

  • Sandpearl Residences  ( a JMC luxury condominium development)
  • Aqualea (a Hyatt condo-hotel development)
  • Marquesas  (a JMC luxury condominium development)
  • Enchantment

Let’s start with the Sandpearl Residences – while you might be thinking wait a minute, the Sandpearl condos are completed. Yes they are but they are not sold out. The developer, JMC, still has some original inventory and recently dropped their prices to hopefully get these babies sold.

Clearwater Beach Florida New Construction –  Sandpearl Condos for sale

In the Sandpearl Residence Tower, as of March 1st there were technically 11 “new” Sandpearl Residences for sale since these are not “resales”. The prices range from under $750,000 to $1,148,000 with only one 3 bedroom condo still available.

  • (3) Sandpearl Condos “C Units” from Phase I which are 2 bedroom 2 1/2 baths with a tech center for sale ranging in price from $834,000 to $1,065,000 depending on their view and whether it’s furnished or not.
  • (4) Sandpearl Condos “D” Units from Phase I still available which are 2 bedroom 2 1/2 baths with a den for sale with prices ranging from $986,000 to $1,148,000 – again depending on if it’s furnished and which waterfront views you are getting.  Some of these condominiums will be having a price increase shortly based on some upgrades that are to be done.
  • (1)  Sandpearl Condos “G” Unit from Phase II is still for sale – it is a 3 bedroom 3 bath Sandpearl Condo for $985,000 (unfurnished) Sandpearl Condos
  • (2) Sandpearl Condos “F” Units from Phase II are still available which 2 bedroom 2 and 1/2 baths both in the $900,000s
  • (1) Sandpearl Condos “H” Unit from Phase II is still available – this is the 2 bedroom 2 bath townhome that faces east so there are no waterviews with this unit and it is available for under $750,000 at this time.

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Clearwater Beach FL New Construction – Aqualea Condos for Sale

Aqualea Resort Condominium Hotel on Clearwater Beach is mostly what we call a “condotel” because it combines the benefits of a condo with that of a hotel. It also means that the condotel suites you buy you are only able to use for a maximum of 60 days a year and the rest of the time it must be available for rent (with the Hyatt or your own property management company).

While the building is still under construction they are planning to have their “soft opening” in December 0f this year.  Aqualea currently has condo-hotel units available from 522 sq ft studio units starting at $460,000 to two bedroom suites that are 1828 sq ft currently selling for $980,000. If you would like more info on these don’t hesitate to ask us – I will also be doing an in-depth article about this latest property on Clearwater Beach.

The will only be 18 “true” Aqualea condos for sale are actually called “The Residences of Aqualea” and will be directly  facing the Gulf of Mexico, overlooking the newly completed Clearwater Beach BeachWalk. 1 unit has been sold however currently they are not being offered for sale – the beginning price will be $2 million and up I am told. One was rumored to have been sold for $3 million however with the changing market it seems they are holding on to their inventory at least for now.

The 18 condominiums will be made up of:

  • Two 6 bedroom / 6 1/2 Bath Penthouse units,
  • Eight 4 bedroom 3 1/2 bathroom Aqualea condos and
  • Eight 3 bedroom and 2 1/2 bathroom condos in the Residences of Aqualea

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This promises to be a magnificent addition to south Clearwater Beach (located just south of Pier 60) – If you want exact pricing and availability give us a call at (727) 710-8036

Clearwater Beach Florida New Construction –  Marquesas Condos for sale

Marquesas Condos – So here are pictures I took this week of the “future site of the Marquesas condos” on south Clearwater Beach just before you go over the bridge to Sand Key. What a difference a year makes – see the “for rent” sign in their old “sales center”. The latest word I got from the developer’s sales staff is that they are not selling or discussing Marquesas condominiums until the developer sells out of their existing Sandpearl condos (see above).

We’ve also heard that they are conducting focus groups and re-evaluating the existing plan in light of the current economy and existing inventory of luxury condos on Clearwater Beach.

I heard they may be scaling back which I think would be a great idea since we have people everyday asking us for “new Clearwater beach condos” under $500,000 – which in light of the current FHA guidelines that makes $417,000 the loan limit before you get into Jumbo mortgages one’s gotta believe there’s a sweet spot in there – just look at what’s selling right now.

There’s no arguing that if anyone can make it work it will be JMC Developers – their team has brought 3 fabulous properties to North Clearwater Beach – Sandpearl, Mandalay Beach Club and Belle Harbor.

So as far as Clearwater Beach new construction goes – Marquesas condos are on hold.

Clearwater Beach Florida New Construction –  Enchantment Condos for sale

Enchantment luxury condos promised to be an amazing waterfront property – I still have videos and pictures from the Best Western that showed the actual views.

Unfortunately like many Clearwater construction projects when the economy turned so did the quantity of luxury condo buyers – especially in light of all the “new construction” we saw on Clearwater Beach 2004-2008. We need time to absorb all this new inventory before I believe we’ll see any real “demand” or viability for more.

I’m sorry to see this project gone and the last reminder of the project are the signs in the parking lot that reserve spots for the “Future Enchantment Owners” which were still there as I drove by yesterday.

Clearwater Beach Real Estate – Buying or Selling – We Can Help!

We also have lots of great Tampa beach bargains on bank-owned foreclosures, short sales and just down right motivated sellers from Clearwater Beach Florida to Tierra Verde so if you’ve been thinking about buying or selling a waterfront or oceanfront beach condo in the Clearwater  St Pete Tampa Bay area…

Call Us Today at (727) 710-8036 to hear more about how we can help you!

Contact us for a FREE quote and to find out your Tampa Mortgage options and you can search all Tampa St Petersburg and Clearwater condos for sale right now..

Copyright © 2009 Jack and Cyndee Haydon, Clearwater REALTORS and your Clearwater Beach Real Estate Consultants specializing in Clearwater Beach Florida and Sand Key Florida. Info may not be copied, reproduced, distributed, transmitted, displayed or published.

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