Channel district apartment tower developers tweak project
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: May 11, 2015

Developers who have been working on an apartment tower in the Channel district for years are tweaking the project slightly, which could signal that construction is imminent.

Tampa-based Mercury Advisors has filed a substantial change request with the city that would remove two stories from the tower, add seven apartments and about 1,400 square feet of space. It would lower the building from 275 feet to 261 feet.

The current proposal would have 323 units in 21 stories and 38,233 square feet of retail space as well as 613 parking spaces. The retail space has long been speculated as a potential site for Publix Super Markets Inc., though the grocer has never confirmed that.

What it will take to build a truly 'walkable life' in Channelside At more than 38,000 square feet, the retail space would be large for an urban Publix, though the figure could include a grocery anchor and some small-shop space.

Most of Publix's urban stores are around 30,000 to 32,000 square feet. Mercury Principal Ken Stoltenberg was not immediately available for comment late Sunday.

In late March, real estate sources told the Tampa Bay Business Journal that Mercury was courting a new partner for the project after the deal it was working on with Atlanta-based Daniel Corp. fell apart.

The filings could indicate the tower is about to break ground, especially if that deal came together. The majority of downtown apartment buildings are more than 90 percent occupied and seeing substantial growth in rent - two signs that demand is up and the market can support new development.

Several other apartment buildings proposed in or around downtown Tampa should start construction in the coming months. The Atlanta developers of a 23-story tower on North Franklin Street's Grant block plan to break ground this summer.

Ashley Gurbal Kritzer is a reporter for the Tampa Bay Business Journal.