BH3 Management and U.S. Development Select FirstService Residential to Manage Viceroy Residences Clearwater Beach Florida

FirstService Residential (NASDAQ:FSV) has been chosen by BH3 Management and U.S. Development to manage Viceroy Residences Clearwater Beach, a new luxury waterfront condominium at 551 Gulf Boulevard.

Rhea-AI Summary

FirstService Residential (NASDAQ:FSV) has been chosen by BH3 Management and U.S. Development to manage Viceroy Residences Clearwater Beach, a new luxury waterfront condominium at 551 Gulf Boulevard.

The project includes two nine-story towers with 86 luxury residences, extensive resort-style amenities, and hurricane-resilient design. Sales are underway, with vertical construction expected to begin this autumn.

Argus Jun 5 session

+0.76% close to close Open Argus

Details

News Market Reaction – FSV

On Jun 5, the day this news came out, FSV closed 0.76% above the previous close.

Data tracked by StockTitan Argus for the Jun 5 session.

Key Figures

Residential towers: Two nine-story towers Residence count: 86 luxury residences Beach club size: 3,000 square feet +3 more

Residential towers

Two nine-story towers

Viceroy Residences Clearwater Beach design

Residence count

86 luxury residences

Viceroy Residences Clearwater Beach project size

Beach club size

3,000 square feet

Restaurant and pool bar space at private beach club

Building elevation

18.6' NAVD

Engineering elevation for resilience

FEMA standard

12' NAVD

Referenced FEMA elevation standard

Wind design rating

165 miles per hour

Missile-impact glass wind resistance design

Historical Context

5 past events · Latest: Jun 02

5 events

1. Jun 02

   NCIB expansion

   24h Move

   +3.0%

   Expanded share repurchase authorization and automatic share purchase plan.

2. May 28

   Service program launch

   24h Move

   +2.9%

   New hospitality-style program with Forbes Travel Guide at Stoneleigh.

3. May 28

   Tuck-in acquisitions

   24h Move

   +2.9%

   Century Fire Protection acquisitions expanding U.S. Sun Belt services.

4. May 27

   Luxury residence program

   24h Move

   +0.7%

   Sun Rose Residences added to hospitality-level service initiative.

5. May 27

   Luxury residence program

   24h Move

   +0.7%

   PIER 4 Residences joins new hospitality-driven service program.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

fema, missile-impact glass

2 terms

fema regulatory

"elevated at 18.6' NAVD – significantly above FEMA's 12' NAVD standard"

A federal agency responsible for coordinating government response and recovery after major disasters and emergencies. Think of it as the nation's emergency manager who organizes rescue, relief funding, temporary housing, and rebuilding support; investors watch its actions because disaster declarations, grants, and recovery timetables can directly affect a company’s costs, insurance payouts, supply chains, local demand and the pace of rebuilding in affected areas.

missile-impact glass technical

"full concrete construction and missile-impact glass designed to withstand winds"

Missile-impact glass is heavy-duty window glazing built from tough layers of glass and plastic that stay intact when struck by flying debris or strong blows, similar to how a car windshield resists shattering. It matters to investors because it influences building safety, regulatory compliance, insurance costs, and upgrade demand; products or projects that use it can affect construction expenses, property values, and the risk profile of real estate and manufacturing companies.

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FirstService Residential tapped to deliver property management and lifestyle services for Clearwater Beach's first new luxury waterfront condominium in over a decade

CLEARWATER BEACH, Fla., June 5, 2026 /PRNewswire/ -- FirstService Residential, North America's leading property management company, has been selected as the management partner for Viceroy Residences Clearwater Beach, a landmark luxury condominium development at 551 Gulf Boulevard, further expanding its portfolio of premier luxury communities along Florida's Gulf Coast.

Developed by BH3 Management and U.S. Development, Viceroy Residences Clearwater Beach will rise across two nine-story towers comprising 86 luxury residences, directly along the water and minutes from downtown Clearwater and Sand Key. The development marks the first new luxury condominium to launch on Clearwater Beach in more than a decade, bringing a new standard of waterfront living to Florida's Gulf Coast through a branded partnership with Viceroy Hotels & Resorts.

"From the beginning, our vision for Viceroy Residences Clearwater Beach has been to deliver a level of luxury living and personalized service that is unprecedented for the market," said Dustin Salzano, CFO of U.S. Development. "Partnering with FirstService Residential allows us to further elevate the ownership experience by aligning with a team that shares our commitment to operational excellence and white-glove service."

Future residents of Viceroy Residences Clearwater Beach will enjoy an extraordinary collection of indoor and outdoor amenities, including an owner's restaurant with direct service to the pool and beach, a private beach club with approximately 3,000 square feet of restaurant and pool bar space, a full-service spa featuring sauna, steam rooms, and interior and exterior plunge pools, a state-of-the-art fitness center with Gulf views, media lounge, and resident clubhouse. Outdoors, residents will have access to a resort-style pool with private cabanas, a beach bar with sand firepit lounges, and a tranquil sunset deck framed by a botanical banyan tree. The development is also engineered for resilience, elevated at 18.6' NAVD – significantly above FEMA's 12' NAVD standard – with full concrete construction and missile-impact glass designed to withstand winds up to 165 miles per hour.

"At FirstService Residential, we are always focused on aligning with best-in-class partners, and Viceroy is synonymous with excellence in hospitality and design," said Sheriff Masry, vice president of FirstService Residential. "We're proud to support BH3 Management and U.S. Development on this landmark development in Clearwater Beach, and look forward to delivering a seamless, elevated living experience for future residents."

Sales for Viceroy Residences Clearwater Beach are now underway from the onsite presentation gallery, with vertical construction expected to begin this autumn. For more information, visit viceroycwb.com.

Discover how FirstService Residential is simplifying property management for boards and developers at LifeSimplified.com.

About FirstService Residential
FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.

Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial, FirstService Energy, and special districts teams deliver additional levels of support.

Boards and developers select FirstService Residential to realize their vision and drive positive change for residents in the communities in their trusted care.

FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.

About BH3 Management
BH3 is a vertically integrated real estate investment, operations, and development firm, led by co-founders Daniel Lebensohn and Gregory Freedman, and Executive Chairman Eric Edidin, along with 27 additional professionals between its offices in South Florida, New York City, and Denver. The company's core focuses include: Development, CRE Debt Investing, Opportunistic CRE Equity, and Growth Equity for operating businesses in real estate, construction, and adjacent sectors. The firm and its partners place a strong emphasis on value creation and making a positive impact on the communities where they invest. For more information, visit www.bh-3.com.

About U.S. Development, LLC
U.S. Development, LLC is a dynamic real estate development and construction management firm specializing in multi-family and mixed-use projects across the East Coast. The firm excels in identifying unique development opportunities, leveraging its expertise to transform underperforming real estate into iconic landmarks. U.S. Development's portfolio includes notable projects such as 1625 Ocean, a boutique oceanfront development in Delray Beach, and Salato, an exclusive 40-residence luxury project in Pompano Beach. These projects exemplify the firm's dedication to creating exceptional oceanfront living experiences. For more information, visit www.usdevelopmentllc.com.

About Viceroy Hotels & Resorts
With hotels and residences in Algarve (Portugal), Los Cabos (Mexico), Snowmass (Colorado), and St. Lucia (West Indies), and hotels in Riviera Maya (Mexico), Kopaonik (Serbia), Santa Monica (California), Chicago (Illinois), and Washington, D.C., Viceroy offers a fresh take on hospitality, centered on the richness of experiences and genuine connection. Viceroy is committed to creating unique and immersive experiences that allow guests to craft unforgettable narratives during their travels. Viceroy is a member of the Global Hotel Alliance (GHA) DISCOVERY, a unique loyalty program offering exclusive benefits and experiences to its members at over 550 hotels around the world. Learn more at www.viceroy.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/bh3-management-and-us-development-select-firstservice-residential-to-manage-viceroy-residences-clearwater-beach-florida-302792903.html

SOURCE FirstService Residential

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did FirstService Residential (FSV) announce about Viceroy Residences Clearwater Beach?

FirstService Residential announced it has been selected to manage Viceroy Residences Clearwater Beach. According to FirstService Residential, the company will provide property management and lifestyle services for the new luxury waterfront condominium development on Clearwater Beach, supporting BH3 Management and U.S. Development.

Where is Viceroy Residences Clearwater Beach managed by FirstService Residential (FSV) located and how large is it?

Viceroy Residences Clearwater Beach is located at 551 Gulf Boulevard in Clearwater Beach, Florida. According to the developers, the project features two nine-story towers comprising 86 luxury residences, directly along the water and minutes from downtown Clearwater and Sand Key.

What amenities will Viceroy Residences Clearwater Beach offer under FirstService Residential (FSV) management?

Viceroy Residences Clearwater Beach will offer extensive indoor and outdoor amenities. According to the developers, features include an owner’s restaurant, private beach club, spa, fitness center with Gulf views, media lounge, clubhouse, resort-style pool with cabanas, beach bar, and a sunset deck with a botanical banyan tree.

How is Viceroy Residences Clearwater Beach designed for resilience under FirstService Residential (FSV) management?

The development is engineered for elevated storm resilience. According to the developers, it is raised to 18.6' NAVD versus FEMA’s 12' NAVD standard, uses full concrete construction, and incorporates missile-impact glass designed to withstand winds up to 165 miles per hour.

When will construction start and sales begin for Viceroy Residences Clearwater Beach managed by FirstService Residential (FSV)?

Sales for Viceroy Residences Clearwater Beach are already underway from the onsite presentation gallery. According to the developers, vertical construction for the two-tower luxury condominium is expected to begin this autumn, with information available through the project’s dedicated website.