condo-tel

Dave permalink | categories: development, paying rent
by Dave @ 1:04 pm

Any sane person wouldn’t be keen to drive between Northeastern Tampa and Clearwater Beach during rush hour unless they were forced to suffer this long commute for work. Yet I had to take this journey to accommodate my wife, a mortgage expert, so she could attend the grand unveiling of builder Taylor Woodrow’s soon-to-be-constructed Indigo Beach Residences and Suites.

Indigo Beach, along with Aqualea, are condo-hotels being built on South Gulfview Boulevard along Clearwater Beach. According to my wife Rosemary:

Basically, a condo-tel is a high rise building consisting of hotel suites which are managed by a big-name hotel chain. Each buyer purchases a “hotel room” (some with kitchenettes) and rents it out for the majority of the year. They provide the same amenities as a nice hotel does (maid service, concierge, etc). These are considered investments and the owner is allowed to stay at the residence between 60-90 days a year maximum.

These things are the newest rage and the units can be extremely pricey — going as high as seven figures, especially if they overlook the water (which is the case for Indigo Beach). Both Indigo and Aqualea will take about 2 years to build.

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4 Responses to “condo-tel”

  1. Editengine Says:

    There is a lot of discussion on whether these places will retain their value. Some are very nice while others, well…

  2. bamaroller Says:

    Don’t bet on these things gaining 15 percent or more the way actual homes have done. Ask yourself: If you know a hotel or apartment is crummy to begin with, why would going condo make it any more valuable? Furthermore, what’s the difference between condo-tels and timeshares?

  3. Bubba Says:

    Nothing beats a log cabin. At least it’s roomier.

  4. richie Says:

    are you kidding me??? the huge difference between condo-tels and timeshares???? FEE SIMPLE OWNERSHIP.

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