ARC Realty Group and Prosper Group have closed on the second parcel for $13.5 million within the three-parcel, one-acre assemblage for Hotel ORA + Private Residences, a $675 million, mixed-use development coming to downtown Tampa. A third parcel, expected to close soon is all that’s needed for construction to begin.

There will be 627 hotel suites and 31 private residences. The project will offer flexible ownership and short-term rental options. Owners may choose to participate in the optional turnkey rental management program and receive 85% of the revenue generated, or they may opt to self-manage or engage an outside management company. The 627 hotel suites and 31 private residences

The amenity package is led by a rooftop helipad to welcome residents and guests arriving by helicopter. In addition, unit owners will have full access to a private rooftop featuring an infinity-edge pool with live music, hot tubs and gazebos, complemented by a poolside restobar. Other amenities include a lobby bar and patisserie, a full-service spa and a fitness center. A to-be-announced national steakhouse will anchor the property.

Get ready to hear from the Southeast’s most influential multifamily leaders on December 4^th at Connect Southeast Multifamily. Join us to hear from and connect with the power players shaping the region’s growth — from top developers and investors to the most prominent lenders, owners, and advisors who are defining the next wave of opportunities. www.ConnectSEMF2025.com