Tampa City Council will vote Jan. 15 on whether the historic Mirasol property on Davis Islands can be redeveloped into a boutique hotel.
The proposal would allow the nearly 100-year-old waterfront building to return to its original use as a hotel, with a limited condominium component, after more than six decades operating as private apartments.
For owners Frank and Lindsey Carriera, the decision is not about scale or speed. They describe it as a question of stewardship.
“This building has been here almost 100 years,” Frank said. “We want it to be here for the next 100.”
A disappearing landmark
The Mirasol was built in 1926 as a Mediterranean Revival hotel and served for decades as a social and lodging hub for Davis Islands.
It was converted to apartments in 1962 and has remained largely closed off from the broader community since.
Frank, who has spent more than 20 years in real estate focused on multifamily investment sales, was involved in two prior transactions involving the building before purchasing it with Lindsey in 2021.
READ: PREVIOUS MIRASOL COVERAGE
The couple lives on Davis Islands with their children and passes the building daily.
“It’s not just an asset,” Frank said. “It’s a landmark.”
At the time of purchase, the building was not protected by local historic designation and could legally be demolished under existing zoning. That reality factored heavily into their decision to buy.
“We didn’t want to see it knocked down,” Frank said. “Most buildings like this have already been.”
Why is redevelopment being considered?
The idea of restoring the Mirasol predates recent storms. Planning began more than two years ago with consultants, land use attorneys and architects exploring long-term options for the property.
The building’s age and design created growing challenges. Concrete construction has become porous over time, and a rare basement houses major mechanical systems in a flood-prone location.
Back-to-back storms in 2024 accelerated the timeline.
READ: TAMPA BAY BUSINESS NEWS
Thermal scans conducted after the storms showed moisture throughout the structure, and the basement flooded multiple times.
“The building was wet from top to bottom,” Frank said. “That was the moment it became clear we didn’t have the luxury of waiting.”
Under the proposal, mechanical systems would be relocated above grade and the building upgraded to modern flood and wind standards, changes the owners say are essential for long-term resilience.
Why a hotel
The redevelopment plan calls for converting the existing apartments into an upscale boutique hotel with approximately 110 to 118 rooms, along with a small number of condominiums.
“It lends itself to being a hotel,” Frank said. “You walk into the lobby and it already feels like one.”
The owners emphasized that the project is intentionally limited in size.
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“This is not a convention hotel,” Frank said. “It’s a quiet place for people to stay.”
No hotel operator or brand has been selected. That decision would come only after rezoning approval, with a hotel developer and capital partner brought in to shape operations.
Lindsey said the goal is to restore the building’s original purpose rather than introduce something foreign to the neighborhood.
“For decades, this place hasn’t really been part of Davis Islands life,” Lindsey said. “That always felt like a loss.”
Growing demand
Today, the property operates eight short-term rental units within the apartment complex.
Even with restrictions like a seven-night minimum stay, the owners say they regularly turn away guests.
“About 20 a month,” Lindsey said.
Much of the demand comes from families connected to Tampa General Hospital, including long-term medical stays, visiting relatives and hospital staff attending conferences or rotations.
READ: Tampa Bay’s growth is no accident: 2026 outlook
Davis Islands residents hosting extended family also rely on the property.
“That need already exists,” Lindsey said. “We just can’t meet it right now.”
The proposed hotel would also be designed to remain operational during storms, providing a secure place for displaced residents of Davis Islands.
Community feedback
The plan going before City Council reflects more than two years of community meetings, open houses and revisions.
According to the owners, the project has been revised four or five times based on neighborhood feedback.
The current version is 37% smaller than earlier concepts, a reduction of roughly 50,000 sq ft.
Building height was lowered, setbacks were increased and hotel massing was shifted toward Davis Boulevard rather than residential streets.
Deliveries, trash pickup and loading would be consolidated into a single access point off Davis Boulevard, removing those functions from neighborhood roads.
“Some of the changes cost us square footage,” Frank said. “But they mattered to the neighbors.”
Not all opposition has disappeared. Some resistance remains tied to broader concerns about development.
“But the conversations are different now,” Lindsey said. “They’re more grounded.”
Preserving Tampa’s identity
Garrett Greco, host of the podcast Tampa Bay Developer, said the owners’ approach reflects a broader challenge facing Tampa.
“I was impressed at how much they have researched the history of the building,” Greco told TBBW on Monday. “Honoring that history and returning the Mirasol to its original use is exactly what this city needs. It’s how Tampa retains its identity as we grow into the future.”
The Carrieras said any future restaurant or commercial space would prioritize local operators.
“We want this to feel like Davis Islands,” Lindsey said. “Not something dropped in from somewhere else.”
What’s next
City Council will vote Jan. 15 on a planned development rezoning request. The decision is final, though appeals are technically possible.
If approved, redevelopment would not begin immediately. Capitalization and final entitlements could take at least 18 months, followed by an estimated two to three years of construction.
According to Frank, Current residents would receive significant notice before any transition.
“With a building this old, you don’t know everything until you open the walls,” Frank said.
A personal stake
Both owners acknowledged that the process has been demanding.
“We live here,” Lindsey said. “We’re raising our kids here.”
She said that matters regardless of the outcome.
“If it passes, we’ll move forward carefully,” he said. “If it doesn’t, we’ll know we did everything we could.”
For now, the future of the Mirasol rests with City Council and with how Tampa chooses to balance growth with memory.
Community note
Mirasol Open House
January 8 from 5:00 to 7:00 pm
Open to the public. RSVP available on the property’s website.
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