South Florida developer Altman Cos. has paid $8 million for a 2.5 acre development site near Oxford Exchange in Hillsborough County. The development that’s planned for the land is the Altis Grand Central apartment community is located to the south of Grand Central Avenue and north of Cleveland Street. In addition to this acquisition, the firm also bought Grand Central Place, a 43,200 sqf mixed use office building built in 1925 for $5.25 million. The developer secured two separate mortgages from Seacoast National Bank, one for $4.6 million and another for $3.5 million to fund the purchases. Plans for Altis Grand Central call for 314 residential units and 10,000 square feet of retail space.
