**ARC Realty Group and Prosper Group Advance $675M Hotel ORA + Private Residences Project in Tampa**
ARC Realty Group and Prosper Group have closed on the second parcel of land—at a price of $13.5 million—for the upcoming Hotel ORA + Private Residences, a $675 million mixed-use development in downtown Tampa. This purchase marks the second of three parcels that comprise the one-acre assemblage required for the project. The final parcel is expected to close shortly, paving the way for construction to begin.
Hotel ORA + Private Residences will feature flexible ownership opportunities through condo-hotel suites. Owners can choose from several usage options, including participation in an optional turnkey rental management program, which offers 85% of the revenue generated. Alternatively, they may opt to self-manage or hire an independent property manager.
Designed with luxury in mind, the development’s standout amenity is a rooftop helipad, offering exclusive access for residents and hotel guests arriving by helicopter. Additional amenities include a private rooftop area complete with an infinity-edge pool, live music, hot tubs, cabanas, and a poolside restobar. The property will also feature a lobby bar and patisserie, a full-service spa, and a state-of-the-art fitness center. A nationally recognized steakhouse—yet to be announced—will serve as the anchor restaurant.
With final land acquisition nearing completion, Hotel ORA + Private Residences promises to become a new landmark of downtown Tampa’s upscale hospitality and residential market.
