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Treasure Island Hotel to Be Razed, Repositioned
The Sands of Treasure Island will soon meet the wrecking ball. A series of storms doomed the structure, built in 1947. The iconic hotel, which was bought by Impact Properties in 2017 for $5.25 million, is slated to be demolished within the month.
The Tampa Bay Business Journal reports that while Impact has not publicly disclosed what it plans to do with the property, speculation is that the spot will be repositioned as a boutique hotel with options to include a restaurant and townhomes.
Impact Properties is working on conceptual designs with Kimmich Smith Architecture. STK Capital provided a $4.5 million bridge loan for the Sands’ redevelopment.
Impact Properties has been involved in several hospitality developments, including The Westin Tampa Bay, which it has since sold.
The storm wreaked havoc on two other nearby resorts. The Thunderbird Beach Resort and Schooner Hotel suffered extensive damage during hurricanes Helene and Milton and will be razed.
- ◦Development
