5 game-changing multifamily developments in the works for Tampa
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 3, 2015

Multifamily has been the darling of Tampa Bay commercial real estate for close to half a decade at this point, but five of the most recent developments to emerge could be the most meaningful of this real estate cycle.

Plans are in the works that will redefine the waterfront in downtown Tampa and Rocky Point and continue the revitalization of North Hyde Park.

Some of them are expensive construction projects that will be built on expensive land, which means two things: The apartment market is getting close to peak, as some experts in this region suggest, or Tampa's economy is on its way to better days, in which rents that were once unthinkable are within reach. ( Here's why some developers are betting big on an affluent renter pool in Tampa.)

Here's a look at five game-changing multifamily developments in the works for Tampa:

The Chart House: ZOM USA, based in Orlando, confirmed to the Tampa Bay Business Journal in early July that it is under contract to buy the 4.57-acre Chart House Seafood Restaurant site on Rocky Point and redevelop it into a four- or five-story apartment building on the water.

This project, combined with a boutique hotel on the former Crawdaddy's Restaurant site and a 14-story residential tower proposed next to the Westin Tampa Bay, has the potential to help Rocky Point live up to its potential as a waterfront destination to live, work and play.