Tampa, Florida developer Luigi Novembre has announced that his new $675 million Hotel ORA + Private Residences project is on track to achieve its sales milestone before the end of this year. Novembre, who is COO and co-founder of ARC Realty Group, anticipates construction will commence in late January or early February 2026 for the luxury development at 1101 East Jackson Street in Tampa. The unexpected role of cryptocurrency in driving early sales success has been a notable development for the project.
Novembre highlighted that a collaboration with Propy Title and Escrow Agency has opened new opportunities for customers interested in utilizing cryptocurrency for their real estate investments. Propy, identified as a leading U.
S. AI-powered, blockchain-driven real estate platform, has facilitated over $4 billion in transactions to date. Its technology aims to enhance security against wire fraud and accommodate buyers seeking to leverage their digital assets. Through Propy, Hotel ORA buyers have the option to purchase directly with cryptocurrency, pay in U.
S. dollars, or secure an instant, crypto-backed loan, thereby avoiding traditional bureaucratic processes and delays, and negating the need to liquidate their crypto holdings.
Hotel ORA + Private Residences is located near Tampa’s Water Street district and features 31 private residences alongside 627 hotel units. Amenities include a rooftop heliport, a steakhouse, an infinity-edge pool with live music, a luxury spa, and VIP access for residents and guests. Novembre noted that the condo-hotel model is particularly suited for income-oriented buyers. Approximately one-third of the initial sales for the project have been completed using cryptocurrency, signaling a shift in buyer demand.
Through the Propy Crypto-Backed Real Estate Loan program, buyers can maintain the value of their digital assets while acquiring luxury property. For those who prefer not to use financing, direct purchases with either cryptocurrency or traditional dollars remain an option, offering flexibility for a diverse range of buyers. Novembre views this trend as more than a mere payment shift, characterizing cryptocurrency as a “dynamic, expanding asset class and a powerful diversification tool, aligned with modern portfolio theory to optimize returns and manage risk.”
This partnership between Hotel ORA + Private Residences and Propy has introduced a new sales mechanism, leveraging blockchain security and a flexible settlement framework. The collaboration is intended to demonstrate a future model for real estate transactions that is instant, secure, and responsive to the expectations of modern buyers seeking both speed and choice.
