Water Street Tampa unveils expansion plans
TAMPA, Fla. - Water Street Tampa released plans on Monday for three new projects as part of the area’s continued development.
Plans include a condo building, an office tower, and "an entertainment destination."
A map released Monday by real estate developer Strategic Property Partners, LLC shows a "mixed-use entertainment destination" will be built just north of Amalie Arena. It will include a select service hotel, a parking garage, and "a variety of entertainment-oriented uses," according to a news release.
Courtesy: Strategic Property Partners LLC
"We look forward to capitalizing on the energy and draw of Amalie Arena while creating a preeminent retail and entertainment destination for the Tampa region," said CEO of SPP Josh Taube. "This dynamic project, complete with new restaurants, retail, live performance venue, and a hotel, will build on the vibrant atmosphere at Amalie Arena by providing a complementary and unique experience."
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Two towers -- a residential condo building and office complex -- will be built off Cumberland Ave. in the area where the old Ardent Mills flour mill used to sit. Demolition on the old flour mill began in 2022 to make way for the Water St. development.
Courtesy: Strategic Property Partners LLC
According to developers, the new residential building will be the tallest building in Water Street Tampa and will include ground-floor retail and parking.
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Conceptual renderings released Monday offer an idea of how the office building could be built to suit a future tenant, which could be an out-of-state corporate relocation, the developers told FOX 13.
"It's a really different moment than when we were trying to sell this opportunity six or eight years ago," SPP’s executive vice president of development Brad Cooke said. "I mean, I think everyone in the room here has seen what we've done with Water Street. It's a lot easier to sell now."
The map released Monday also shows the addition of road infrastructure, connecting the city street grid north of Cumberland Ave. near the office and condo towers. Construction has already begun and is expected to be completed by spring 2025, according to officials.
Courtesy: Strategic Property Partners LLC
The developers said Monday that work on the office and condo towers will likely start after the road construction is complete. The entertainment venue "could be in that same timetable," according to Cooke.
They also said that additional parking is a priority.
"We know we need more parking," Cooke said. "And that's something we're intending to tackle in this next phase."
Plans also call for green and pedestrian spaces along Water St., allowing for outdoor concerts and open-air markets.
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