Construction Underway on The Bluffs at Former City Hall Site

The Gotham Organization and The DeNunzio Group secured $160 million in construction financing in February 2026 for The Bluffs, according to a joint announcement from the developers. The package includes a $115 million senior loan from Wells Fargo, plus $45 million in mezzanine debt and preferred equity from Schroders Capital and Lionheart Strategic Management. Groundbreaking occurred in April 2026, with completion targeted for April 2028, per the developers' statement and city project listings on myclearwater.com. Spanning 630,000 square feet, the development features 400 luxury rental units, over 10,000 square feet of ground-floor retail and an underground garage with 440 spaces. Located at 150 S. Osceola Ave. adjacent to Coachman Park and the BayCare Sound, it replaces the former city hall, now relocated to a new $31.6 million, 40,000-square-foot facility on South Myrtle Avenue set to open in August or September 2026, as detailed on the city's Business Development projects page. Clearwater leaders, including Mayor Bruce Rector, describe the flurry of downtown projects as an 'urban renaissance.' Nearby, the 158-room Ballad Hotel — a 10-story Hilton with 20,000 square feet of retail, an underground garage and rooftop bar overlooking Coachman Park — began construction in early 2026 and is slated to open next year, according to city officials cited in local reports. The project aligns with broader downtown revitalization efforts, including a proposed Planned Redevelopment District overlay for the North Greenwood Community Redevelopment Area, which faced initial City Council review on March 30, 2026, at the Main Library Council Chambers, 100 N. Osceola Ave. The overlay aims to enable denser housing and mixed-use builds, per the council agenda. The Clearwater CRA continues initiatives like ARTours Clearwater, an augmented reality tour of downtown murals, to boost foot traffic amid challenges from Church of Scientology-owned properties on Cleveland Street. Residents can track progress via the city's official projects page at myclearwater.com/Business-Development/Projects-in-Clearwater, which lists The Bluffs among active developments transforming the urban core.