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$35M construction job for Vinik-Cascade real estate team up for bid
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 8, 2015

Strategic Property Partners is moving forward with the first portion of major construction work in its $2 billion district in downtown Tampa.

SPP, the real estate company controlled by Tampa Bay Lightning owner Jeff Vinik and Cascade Investment LLC, said Friday that it has issued an invitation to bid on the infrastructure and roadway improvements for its district.

The improvements are slated to cost about $35 million. SPP will be refunded a portion of those costs by Tampa's Community Redevelopment Area funds. CRAs have a state designation that allows them to use locally generated money to fund projects within the CRA. The city would reimburse half the costs from its share of the CRA; the other half is expected to come from Hillsborough County's share of the CRA revenue.

The work will be done in phases, scheduled to begin in mid-2016 and take about two years. The start date is contingent upon approvals by the city and Tampa Hillsborough Expressway Authority.

Here is a breakdown of the improvements:

Conversion of Channelside Drive from Meridian to Jefferson Street from a one-way, eastbound only roadway into a two-way roadway

Extension of Old Water Street north from Channelside Drive to Cumberland Avenue, creating a new north-south connection throughout the district

On street parking and new bike infrastructure

Streetscape enhancements including wide sidewalks for pedestrian experience as well as outdoor dining opportunities; improved lighting; and, landscaping

New water, sewer, and stormwater infrastructure to support the area's redevelopment

Additional infrastructure to support a centralized district cooling facility

A pre-bid conference will be held at 2 p.m. Jan. 19 in the Port Tampa Bay board room.

"The successful firm may be requested to suggest ways to accelerate the overall schedule," SPP said in advertising the bid. "The successful firm must be able to self-perform majority of the work as well as be an approved Contractor on behalf of private/franchise utility companies."

Advertisements for the invitation to bid will run in the Tampa Bay Times, Tampa Tribune, Florida Sentinel Bulletin, La Gaceta and Tampa Bay Business Journal. For solicitation documents, email contactus@spprealestate.com.

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