A major downtown Clearwater residential and mixed-use development is getting a financial boost as its developers secured a financing package worth more than $150 million.
The Gotham Organization and The DeNunzio Group, the developers, announced late Thursday afternoon that they had secured $160 million in construction financing for The Bluffs, a project to be built on the site of the city’s former city hall building.
According to the firms, $115 million of the money will come in the form of a senior loan from Wells Fargo. The additional $45 million will be mezzanine debt and preferred equity from Schroders Capital and Lionheart Strategic Management…