After a five-year delay, Citrus Park Crossing is coming to life near Gunn Highway and the Veterans Expressway.

Christopher Daye and Ryan Companies said they are starting construction of a three-story, 80,000-square-foot office building that will open by the end of the year.

Daye said the building is 60 percent pre-leased by a financial services company that wants to double its Tampa footprint. He would not name the tenant.

The former Beck Group project manager said the anchor tenant is critical to demonstrating his vision of a mixed-used development aimed at suburban residents who don't want to travel into downtown Tampa or Westshore.

Daye unveiled his $45 million, 252,000-square-foot, mixed-used development in 2008, just as the housing market and the economy began to crash.

"This is the first step in that same direction,” said Doug Dieck, Ryan's Southeast region president.

He described the project as Tampa's first speculative office construction in years. The building will cost about $14 million.

A formal groundbreaking ceremony is scheduled for May 1.

Mark Holan's beats include commercial real estate and residential real estate.