American Momentum Bank to provide financing for Blue Line Residential’s first project.
TAMPA, Fla. (Sept. 26, 2018) — Blue Line Residential – a new development company owned by former National Hockey League player Ruslan Fedotenko and custom homebuilder Paul Wiezorek – will break ground on its first project this month. The speculative luxury waterfront townhome property on Treasure Island will include two units, each of which will be listed for $1.75 million.
As the only bank involved, American Momentum Bank is providing all of the financing for this exciting new project.
The contemporary property is located at 255 110th Avenue on Treasure Island, close to the John’s Pass inlet and public beach access. Each three-story unit will have approximately 3,900 square feet of air-conditioned space, a three-car garage, four bedrooms, four-and-a-half bathrooms and a game room. High-end features include a gourmet appliance package, hardwood floors and an elevator in each unit. The property also features a shared pool and a dock on the intercoastal, offering one slip per unit.
“This is a high-end, luxury property with quality products and finishes,” said Wiezorek. “These units will be built to the same standards as the custom homes my company builds in Pinellas County."
Wiezorek has more than 28 years’ experience in the homebuilding industry. In addition to Blue Line Residential, Wiezorek owns Wiez Design & Construction, a residential custom design and construction company operating in Tampa and St. Petersburg. Wiez Design & Construction will design and build Blue Line Residential’s Treasure Island townhomes.
Fedotenko, a two-time Stanley Cup champion and former Tampa Bay Lightning player, rather recently entered real estate investment. He and Wiezorek had known each other for 12 years before deciding to establish Blue Line Residential. “Blue Line” is in reference to both the blue line on the ice in the hockey rink as well as the lines on architectural blueprints.
“Ruslan had an accomplished NHL career and Paul has an outstanding reputation as one of the top custom homebuilders in the Tampa Bay area,” said Aaron Sherwood, Senior Vice President/Commercial Relationship Manager at American Momentum Bank. “Needless to say, we are thrilled about working with Blue Line Residential on this opportunity and future ones, as well.”
Wiezorek was introduced to American Momentum by a client who had worked with and had a good experience with the bank. Blue Line Residential contacted American Momentum about its townhome project.
"American Momentum has been easy to work with, has provided good communication and our personalities have aligned well,” said Fedotenko. “Everyone has been great to work with so far.”
The Treasure Island townhome property is expected to be completed in 14 to 16 months. Blue Line Residential is also currently working on plans to build two additional multifamily properties in South Tampa.