ARC Tampa Development and Prosper Group have reached a major milestone. The companies have secured more than $200 million in presales for Hotel ORA + Private Residences, a $675 million luxury condo-hotel planned for downtown Tampa.
Located at 1101 East Jackson Street near Water Street, the project will bring a five-star experience to the city’s core. Construction is set to begin in the first half of 2026.
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What we know
Sales for Hotel ORA, launched nine months ago, have already surpassed $200 million. The project includes 627 hotel suites and 31 private residences, each with private elevator access, terraces, high ceilings and wide city views.
Prices start at $742,000 and range up to $1.5 million for condos, featuring eight penthouses and one $10 million residence designed by Miami-based designer Maricarmen Castillon.
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“We’re bringing a South Beach-inspired experience to Tampa,” said Luigi Novembre, co-founder and COO of ARC Realty Group. “The response shows how much demand there is for this type of investment.”
The development is the first in Tampa to introduce a true condo-hotel model. Owners can generate income while enjoying professional management and low fees.
What’s happening now
The Hotel ORA team has been promoting the project across Japan, Korea, Mexico, California and New York to investors and agents who see Tampa as a growing luxury market.
“Hotel ORA offers flexible ownership, low management fees and income potential,” said Jay Roberts, CEO of Prosper Group. “There’s no other short-term rental property like it in Tampa, and ORA fills that need.”
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The project will feature a rooftop pool with hot tubs, live music and private cabanas. Guests will have access to a lobby bar and patisserie, a full-service spa, a fitness center and a national steakhouse with 10,000 square feet of restaurant space. It will also include 15,000 square feet of convention space and a rooftop helipad.
What this means for Tampa Bay
Hotel ORA highlights Tampa’s continued growth as a destination for high-end development and investment. The $675 million project builds on the city’s recent wave of mixed-use and luxury projects in Water Street and beyond.
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For buyers, it offers a new type of real estate opportunity. For Tampa, it reflects the confidence developers and investors have in the city’s future.
Hotel ORA + Private Residences is being developed by ARC Realty Group, Prosper Group and Sunwest Construction. Groundbreaking is expected in 2026.
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