WATER STREET TAMPA TOPS OUT LARGEST AND FINAL BUILDING IN DEVELOPMENT’S FIRST PHASE
TAMPA, FL (March 12, 2021) – Leading Tampa-based real estate development firm Strategic Property Partners, LLC (“SPP”) today announces the official topping out of 1050 Water Street, the largest and final building in Phase One of Water Street Tampa, the transformative mixed-use project re-shaping downtown Tampa. Standing at 22 stories and spanning 495,000 square feet, 1050 Water Street is also the largest residential development in the neighborhood, comprising 490 rental residences. Water Street Tampa’s first phase of construction is on track for completion by the end of this year and SPP will begin construction on the second phase in 2022.
“With the topping out of our final Phase One building and largest residential offering, we are one step closer to achieving the goals we set for this development since day one: creating a well-rounded and people-centric urban neighborhood in the heart of Tampa,” said Charlie Rollins, Executive Vice President of Development and Construction for SPP. “We are thrilled to celebrate this milestone and continue significant construction progress throughout the next year as we watch the first phase of this historic project come to life.”
Located along the neighborhood’s namesake and main thoroughfare, 1050 Water Street will feature thoughtfully-designed rental residences ranging from studio to two-bedroom homes. The homes, designed inside and out by renowned architect Morris Adjmi Architects, offer warm, inviting interiors inspired by Tampa’s industrial history. The building will also be pioneering a select number of short-term rental residences, to be revealed at a later date.
Each home at 1050 Water Street is complemented by extensive amenity spaces designed to foster community among residents and create a new residential lifestyle centered around shared social experiences. Embracing Tampa’s natural environment, 1050 Water Street is home to Water Street Tampa’s largest pool deck, a dynamic rooftop space complete with cabanas, outdoor kitchens, an indoor-outdoor bar and an entertainment lawn. The expertly-programmed rooftop terrace will provide resort-style amenities in the center of the city. Inside, an expansive amenity suite includes spaces such as a state-of-the-art fitness facility, private party rooms, screening lounge and a co-working space with private conference rooms. Residents at 1050 Water Street will also enjoy 24-hour concierge service, a residential lobby accessed via a private drive and 32,000 square feet of ground-floor retail space.
Construction on 1050 Water Street is being handled by Suffolk Construction, one of the Southeast’s premier construction companies.
“Suffolk is thrilled to reach this important milestone alongside our trade partners who have truly gone above and beyond,” said Suffolk’s General Manager Josh Christensen. “The topping off marks a significant step for the team, and we are now focused on finishing the building’s unique façade and interior work. Throughout the process, our partnership with SPP has been tremendous, and we look forward to continued collaboration as we move closer to project completion.”
First move-ins at 1050 Water Street will begin in early 2022. Built around wellness, connectivity, walkability and sustainability, Water Street Tampa is creating a balanced urban experience offering sparkling waterfront views, publicly-accessible green space and world-class dining, shopping, cultural attractions,
entertainment venues, residences and offices in the heart of one of the country’s fastest-growing cities. For more information, please visit www.waterstreettampa.com.
Strategic Property Partners
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 56 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 nine 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 in Tampa, while also working to elevate the city’s national prominence. For more information on Water Street Tampa, visit www.waterstreettampa.com.
Suffolk is a national enterprise that invests, innovates, and builds. Suffolk is an end-to-end business that provides value throughout the entire project lifecycle by leveraging its core construction management services with vertical service lines that include real estate capital investment, design, self-perform construction services, technology start-up investment and innovation research/development.
Suffolk is a national company with $4.0 billion in annual revenue, 2,500 employees and main offices in Miami, West Palm Beach, Tampa, Estero, Boston, New York, Dallas, Los Angeles, San Francisco, and San Diego. Suffolk serves clients in every major industry sector, including healthcare, science and technology, education, gaming, transportation/aviation, and commercial. Suffolk is privately held and is led by founder, chairman and CEO John Fish. Suffolk is ranked #23 on the Engineering News Record list of “Top 400 Contractors.”