On September 29, the City of Tampa announced that HRI Properties of New Orleans submitted the winning bid for the downtown block between East Jackson Street and East Kennedy Boulevard on North Florida Avenue.
HRI will pay around $7.5 million for the block and plans to develop a 21 story building that will include a 223 room Hyatt Centric Hotel, 225 residential units, 7,000 square feet of retail space and a 408 car garage. Construction is set to begin in late 2017 with occupancy planned for May 2019.
“The city received very attractive proposals from three very qualified teams and after careful analysis, HRI’s proposal offered exactly what the City of Tampa was looking for,” said Mayor Bob Buckhorn. “HRI offered not only a vision that would add to Tampa’s burgeoning downtown but also offered an attractive purchase price, density and innovative design.”
Tampa put out a request for bids at the beginning of August. This announcement follows Crescent Communities $8.1 million acquisition of a 5 acre piece of land along the Riverwalk. They plan to build 400+ apartments on the site. The developers are also behind the Crescent Westshore, the 374-unit luxury apartment community which officially opened the second week of September.