Strategic Property Partners announced the unveiling of Tampa’s hotly anticipated 50-acre mixed-use waterfront neighborhood, Water Street Tampa. The neighborhood is named for the historic street that will soon be the heart of downtown.
More than $3 billion will be invested in this multi-phased urban development project that includes more than 9 million SF of commercial, residential, hospitality, educational, entertainment, cultural and retail space that will be built over a 10-year period.
Surrounded by major entertainment anchors
The neighborhood is surrounded by existing cultural entertainment and community anchors the Tampa Convention Center, Amalie Arena, Tampa Bay History Center, and the Florida Aquarium.
Water Street Tampa is a story of opportunity and wellbeing, with culture, community, and character on each block. At every level, we aspire to create a well-crafted place that attracts people to come to discover, create, and live their own life stories.
James Nozar, CEO of SPP
SPP is bringing Water Street to life with the assistance of 10 award-winning architectural firms on the design of 18 distinct buildings and 12.9 acres of new and enhanced public space.
Water Street Tampa by the numbers
Water Street Tampa will include more than two million SF of office space, the first new office towers in downtown Tampa in nearly 25 years; one million SF of new retail, cultural, educational, and entertainment space that complements the pedestrian experience at the street level.
There will also be 3,500 new rental and for sale residences and two new hotels with over 650 new rooms, including the city’s first 5-star hotel. SPP estimates that 23,000 people will live, work and play in Water Street Tampa daily.
Construction is expected to begin later this year. One acre in the new district was donated to USF, which will relocate the Morsani College of Medicine and Heart Institute downtown into a 380,000 SF world class facility. Its scheduled to open in the fall of 2019.
Infrastructure enhancements planned
Water Street Tampa also includes over $200 million in new infrastructure, of which roadway and public utility work began in the summer of 2016. A new central cooling facility will break ground in fall 2017.
The centralized cooling will free up the rooftops of the new buildings, where individual cooling towers would typically be located, allowing for lushly landscaped rooftop amenity terraces with panoramic views of Downtown Tampa and Hillsborough Bay. Who’s ready for rooftop season in Tampa?