City leaders celebrate groundbreaking for new Tampa Ritz-Carlton condos on Bayshore
TAMPA, Fla. - Tampa city leaders joined developers on Monday for a groundbreaking ceremony at the Ritz-Carlton Residents Tower along Bayshore Boulevard.
The Residences, also known as Tower II, will feature more than 90 condominium homes and six villas, with floor plans spanning up to 5,600 square feet. Although construction hasn't yet begun on the building, developers said they've sold 60 percent of the units, which start at $1.7 million.
Jorge Perez, CEO of the Related Group, discussed why he's poured more than $1 billion into Tampa properties, including some targeting lower-income families.
"I think we're bringing a level of luxury and service amenities that Tampa has never seen," said Perez. "We bought a lot of land there, invested in investing hundreds of millions of dollars in Tampa because we think it's one destined to be one of the great cities of the world."
The Residences offers high-end amenities, including spa service treatment rooms, pickleball and tennis courts, a golf simulator, and an expansive viewing deck.
Mayor Jane Castor said this is the latest example of Tampa being in high demand.
"You go down to Water Street, look at Midtown, look at what's happening in our urban core, what's planned for Ybor City, Tampa Heights - We really have seen some incredible growth, and it's wonderful that we have developers that are interested in growing Tampa in a very thoughtful and inclusive way," Castor said.
Future residents have been told it could take 18 months to a year before they'll be able to move into the new tower. Tower I, which is nearly completed, is sold out.