TAMPA, FLA. — Strategic Property Partners LLC (SPP) has unveiled plans for a pair of office towers within the $3 billion Water Street Tampa project. The multi-phased development will comprise more than 9 million square feet of commercial, residential, hospitality, educational, entertainment, cultural and retail space upon completion scheduled for 2027.
The office towers will total approximately 1 million square feet and will be the first ground-up office buildings to be constructed in downtown Tampa in nearly 25 years.
“With Tampa’s population growing daily and sustained job creation happening within the community, we saw a tremendous opportunity to build new and efficient office space within the initial phase of the Water Street Tampa neighborhood,” says David Bevirt, executive vice president of corporate leasing and strategy for SPP.
One of the buildings, 1001 Water St., will rise 20 stories and span 380,000 square feet. COOKFOX Architects designed the speculative property. Construction is expected to begin in the spring, with completion slated for the second quarter of 2021, according to the Tampa Bay Times.
Building features will include a rooftop terrace, conference space, flex rooms and a wellness community center. A Nelson Byrd Woltz Landscape Architects-designed plaza area will link the building to the adjacent Morsani College of Medicine at the University of South Florida.
The other building, 400 Channelside, will rise 19 stories and span 500,000 square feet. A construction start will depend on activity at 1001 Water St. Gensler designed the building, which will include a 30,000-square-foot “sky garden.” The fourth-floor space will enable tenants to have outdoor meetings, informal gatherings, events and fitness activities.
JLL will handle leasing efforts for both 1001 Water St. and 400 Channelside.
Additional commercial office space is planned as part of future phases of Water Street Tampa, including a commercial campus designed by Pickard Chilton.
SPP broke ground in April on the first buildings at Water Street Tampa, including a 519-room J.W. Marriott hotel and a two-tower residential property.
SPP is a real estate investment joint venture between Cascade Investment LLC and Jeff Vinik, owner of the Tampa Bay Lightning, a professional hockey team. The partnership will own and operate Water Street Tampa.
— Kristin Hiller