STRATEGIC PROPERTY PARTNERS MAKES BIG IMPACT IN 2020 WITH WATER STREET TAMPA
TAMPA, FL (November 9, 2020) – Since beginning construction in 2016, the first phase of Water Street Tampa is progressing closer to completion every day. Approximately 5 million square feet of residential, hospitality, office, retail and educational space has been delivered or is currently under construction, including over 70 unique retailers and restaurants, Tampa’s first downtown trophy office building in more than 25 years, a diverse range of over 1,300 new rental apartment homes in four distinct buildings, the first four and five-star hotels in Tampa Bay, the first hotel-branded residences available for sale in Tampa Bay, the University of South Florida’s Morsani College of Medicine and Heart Institute, and the creation of the world’s first WELL-certified community as designated by the International Well Building Institute.
“Since we introduced the vision of Water Street Tampa, much of the past five years has been dedicated to planning for what we are now seeing – a real, forward-thinking, urban neighborhood. All of the ten buildings that are a part of the first phase of Water Street Tampa will be completed by early 2022 and we continue to be excited about supporting the economic growth of the Tampa Bay region while offering new opportunities to experience and enjoy downtown Tampa. Over the next year, we’re planning for a number of project milestones: opening the new JW Marriott, opening the much-anticipated Cumberland Avenue connection between downtown and the Channel District, welcoming our first residents to live in the neighborhood, and continuing to bring in new retail and office tenants, while actively planning for future phases,” says Charlie Rollins, EVP and Director of Development and Construction at SPP.
At Sparkman Wharf, façade work is complete and new retailers are opening their doors to visitors. F45 recently announced their opening and JoToro, the Mexican eatery concepted by Michelin-star Chef Joe Isidori, opens in early November. Upstairs, the build-out of the loft-style office space with views of the waterfront is nearly complete.
With construction nearing completion as furniture and finishings are steadily put into place, the JW Marriott Tampa Water Street encompasses 519 hotel rooms across 26 floors with four new restaurants, a full-service spa,100,000 square feet of new ballrooms and meeting space, and multiple other social spaces and amenities.
Construction is on schedule to begin removing the existing railway crossing at Meridian Avenue in early November, with East Cumberland Avenue opening between Channelside Drive and downtown in early 2021, providing a long-awaited east-west connection through the downtown core to Port Tampa Bay, and an additionalpoint of access for people coming to and from Water Street Tampa
Opening in early 2021, Cumberland Garage will provide parking for visitors, residents, office workers, and staff of the University of South Florida Health’s Morsani College of Medicine. It is connected to the residences at 1011 E Cumberland via a plaza, which envisions the street as a social space, where pedestrians, cyclists, and drivers co-exist in a curbless environment while offering a streetscape with outdoor dining and activities for residents and visitors.
Heron, located at 815 Water Street, is a dual-tower residential building designed by Kohn Pedersen Fox Associates and Cecconi Simone, with inspired landscaping by Raymond Jungles, includes a new eastern gateway to the Tampa Riverwalk and GreenWise Market. Pre-leasing for the 420 new rental homes will begin in late 2020 and the first move-ins will be in March 2021, and the GreenWise Market grocery store will open in spring 2021.
The 20-story mixed-use building features approximately 380,000 square feet of trophy office space and ground-floor retail, located at the intersection of Water Street and Channelside Drive. Designed by COOKFOX Architects, 1001 Water Street will deliver in the summer of 2021.
Rising 23 stories at the southeast corner of the intersection of Water Street and Cumberland Avenue, the residences at 1011 E Cumberland recently topped out. The 388 new rental homes, designed COOKFOX Architects in partnership with Miami-based ODP Architects and Edit Lab at Streetsense, are oriented around a biophilic design philosophy inspired by lush landscaping by Future Green Studios, to positively impact the health and wellbeing of the building’s residents. The building is planned to deliver in late 2021.
Through a partnership with Marriott International and the Ian Schrager Company, The Tampa EDITION will be the city’s first five-star hotel, featuring 172 hotel rooms and 37 for-sale, hotel-branded residences on floors 10 through 27, the only offering of its kind in Tampa Bay. The Tampa EDITION Hotel & Residences is planned to top out in January 2021, with construction completion on schedule for the end of 2021.
Located along Water Street north of The Tampa EDITION, 1050 Water Street broke ground in 2019 and will top out in early 2021. The 497 rental residences, designed inside and out by Morris Adjmi Architects in partnership with Florida-based firm ODP Architects, is on schedule for completion in early 2022.
Strategic Property Partners, LLC (“SPP”) is a partnership between Cascade Investment LLC, and Jeff Vinik. SPP is a full-service commercial real estate development firm focused on world-class execution, innovation, and creating high-quality and experiential places. SPP’s first project, Water Street Tampa, is being developed on over 50 acres of contiguous waterfront land the company controls in downtown Tampa. The phased Water Street Tampa development project is revitalizing a currently underutilized tract of land into an urban, mixed-use waterfront district consisting of approximately 9 million square feet of new commercial, residential, hospitality, cultural, entertainment, education, and retail uses, totaling over $3 billion in private investment from SPP. Integrating principles of walkability, sustainability, connectivity, design quality, and wellness, SPP is developing and will own and operate this new world-class neighborhood in Tampa, while also working to elevate the city’s national prominence. For more information on Water Street Tampa, visit www.waterstreettampa.com.