Most Anticipated Tampa Bay Real Estate Projects
Tampa Bay is becoming a prime target of national commercial real estate investors!
There are lots of reasons why TAMPA BAY is suddenly bursting with huge commercial real estate projects. With an abundance of talented work force, affordable cost of living, innovative city government, easy access to world-renowned Gulf beaches, amenities-filled master-planned communities, Port of Tampa, McDill Air Force Base, University of South Florida, start-up support networks, it’s easy to see why an increasing number of big and well-funded real estate developers have been looking and buying Tampa Bay properties for their development projects.
Here are some of the biggest mixed-use real estate projects in Tampa Bay:
1. Channelside Project by Tampa Bay Lightning owner Jeff Vinik
There’s no doubt that the single development vision that sparked recent projects in Tampa Bay was the more than $ 2 billion 50-acre Channelside waterfront multi-use project announced by Tampa Bay Lightning owner Jeff Vinik. People have already seen how Vinik revived the Lightning franchise and how he continues to seek ways to help the Tampa Bay community so his real estate vision for the Channelside district was fully embraced and has inspired other big projects.
The association of Bill Gates in the project through his investment company, Cascade Investment LLC, has also added gravitas to the vision. The project’s developer Strategic Property Partners is a joint venture between Jeff Vinik and Cascade Investment.
The project will be the world’s WELL certified district, a development that promotes wellness through a sustainable,
walkable, healthy environment for all. When completed, the project will be a nine-million square feet of commercial,
residential, educational, medical, cultural, entertainment, sports and retail spaces.
The area is already a vibrant destination with these popular facilities: Amalie Arena, Florida Aquarium, Port Tampa Bay, Tampa Riverwalk, Tampa Convention Center, Tampa History Center, Marriot Waterside Hotel and Marina, and the Channelside Bay Plaza.
The University of South Florida has already dedicated the site of its new Morsani College of Medicine and USF Health Heart Institute in the Channelside district.
2. Heights Market Project by SoHo Capital LLC
SoHo Capital will transform the 68,0000-square-foot historic brick Armature Works building into the heart of the Heights district. It will be a multi-use destination that will include an in-house market, co-work space, two restaurants and event hall space. The in-house market will be the most unique feature of the project. An area of 22,000 square feet will be turned into an open market hall that will offer different restaurants and boutiques in vendor-like food-hall-concept stalls operated by local chefs and entrepreneurs like Ichicoro Ramen.
3. Tampa International Airport Expansion
This expansion project consists of three phases, aimed at serving 35 million passengers per year. The first phase is already being completed, and it includes the expansion of the main terminal, the construction of a 1.4-mile automated people mover and a 2.6-million-square-foot consolidated rental-car center near the airport’s entrance.
The existing area of the main terminal’s third floor that’s being renovated is equivalent to 4.5 football fields. An additional 55,000 square feet of space will be added to the main terminal. The airport’s elevators and escalators are also being replaced or renovated.
4. Crescent Riverwalk apartment complex near the Tampa Riverwalk by Crescent Communities
The developer will build a five-story 400-unit apartment complex on a five-acre vacant property north of the Straz
Center for the Performing Arts.
5. Mixed-use tower on city-owned 405 E. Kennedy by HRI
HRI will build a 21-story mixed-use tower that will include a 225-unit residential complex, a 223-room Hyatt Centric
Hotel, a 7,000-square-foot commercial and retail facility, and a 408-car garage.