The Gotham Organization and The DeNunzio Group have started work on The Bluffs, a mixed-use development planned for downtown Clearwater. The project moves forward following the capitalization of a $160 million construction financing package that allows the development team to begin transforming the former City Hall site.
The capital stack for The Bluffs includes a $115 million senior construction loan provided by Wells Fargo. The balance of the $160 million package is composed of mezzanine debt and preferred equity supplied by Schroders Capital and Lionheart Strategic Management. This structure supports the ground-up development of a large-scale, mixed-use property rather than a phased or incremental redevelopment.
The Bluffs emerged from a competitive request for proposal process conducted to redevelop the City Hall site. The winning proposal, advanced through a public-private partnership with the City of Clearwater, positions the project directly adjacent to the newly completed Coachman Park, an $84 million public investment. The proximity to Coachman Park integrates the project into a broader civic improvement initiative in downtown Clearwater.
Behar + Peteranecz Architecture is serving as the designer for The Bluffs, with Moss Construction engaged as the general contractor. The development program calls for a total of approximately 630,000 square feet of mixed-use space on the former municipal site. Plans include a 400-unit luxury rental building, complemented by more than 10,000 square feet of retail space and 440 parking spaces. The combination of residential, retail, and structured parking is intended to convert an underutilized government property into an active, mixed-use environment.
The site's location in downtown Clearwater and its connection to Coachman Park highlight the role of public-private partnerships in reshaping civic corridors. With construction financing in place and site work underway, The Bluffs represents a significant step in the ongoing repositioning of this area from single-purpose municipal use toward a denser, mixed-use urban fabric. The involvement of multiple capital providers and a dedicated development team underscores the scale and complexity of the project as it advances from planning into active construction.
