Construction is anticipated to commence in the coming year and is projected to span approximately three years for completion.
Plans have been unveiled for a new Davis Islands mansion that will replace the former residence of the ex-New York Yankees shortstop Derek Jeter.
Last year, the fate of the property at 58 Bahama Circle became uncertain when a demolition permit was submitted to the city. A news release from Ellison Construction on Friday confirmed that the original structure would be demolished to make way for an even more extensive 30,000-square-foot home.
Construction is slated to commence next year, with an estimated three-year timeline for completion.
The current 22,000-square-foot dwelling is already one of Tampa’s largest. It was tailor-made for Jeter and his family, who took up residence shortly after its 2011 completion but later relocated to Miami. In 2020, NFL star Tom Brady and his family began renting the mansion from Jeter.
In 2022, Jeter sold the property for a staggering $22.5 million, marking it as the most expensive sale ever in the Tampa Bay area.
Speculation swirled around the mysterious new owner, identified as “Zebb.com Trust” on the deed.
Zebb.com is a cryptocurrency application facilitating investments of Indian rupees into bitcoin, with links to Zebpay, a major cryptocurrency exchange headquartered in Singapore, as mentioned on its website.
The property may find itself under the ownership of healthcare entrepreneur and philanthropist Siddhartha Pagidipati. Both he and his wife, Ami Pagidipati, have registered 58 Bahama Circle as their primary address on voter registration records.
Pagidipati was not immediately available for comment.
“We know this is one of the most-watched pieces of real estate in Tampa Bay, and we’re excited to give everyone a first look at the special family home coming to this unique location,” said Casey Ellison, CEO of Ellison Cos., in a statement. “As a company, we love to be involved with projects that have exceptional design, and this is a unique opportunity to showcase world-class design on Tampa’s waterfront.”
The forthcoming residence, designed by Landry Design Group with interior aesthetics curated by Annette English, will boast an impressive six bedrooms, nine full bathrooms, 11 half-bathrooms, a fully-equipped gym, and a luxurious swimming pool.
Furthermore, the design will introduce significant additional green space, with the intent of crafting a picturesque park-like environment.
“The forms of the home are arranged to create courtyards and garden spaces throughout, surrounding the structure with lush landscaping,” said Richard Landry, founder of Landry Design Group. “This softness finds its way onto the facade, where the classical stone elements are complimented by more contemporary green walls and bronze detailing.”
The homeowner has made a philanthropic gesture by committing to donate materials from the existing residence, such as cabinets, appliances, furniture, and lighting, to Habitat for Humanity of Hillsborough County. This charitable organization will sell these donated items at its ReStore and allocate the proceeds towards the construction, rehabilitation, and repair of affordable housing projects.