Two hotels converted into affordable apartment complex in Clearwater
CLEARWATER, Fla. – As communities across Tampa Bay search for new and creative ways to handle the housing crisis, an apartment complex featuring two converted hotels held its grand opening in Clearwater Friday.
Pelican Lake Apartments is accepting applications from prospective tenants. Crews renovated the TownePlace Suites by Marriott and the Residence Inn by Marriott, combining the two hotels into the new complex on 49th Street North.
“We’re coming with a product that is adding a lot of units in the market relatively quickly. In addition to that, it’s at a lower cost,” said developer Humberto Cubillos, with Eagle Property Capital, adding he saw an opportunity to help find solutions to the rental market crisis. “There’s a deficit [in rental available units]. I think this strategy is very unique in that we’re looking for more transactions where we can help with the