34-story tower near Straz Center to break ground in coming months
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Mar 31, 2016

A residential tower in the works for years could break ground in the coming months, its developer said Tuesday.

The tower, named Arts and Entertainments Residences and adjacent to the Straz Center, was first proposed in 2013. The city is spending millions to reconfigure Tyler and Cass streets to create a 1-acre parcel where the tower will be built.

Granvil Tracy, president of American Land Ventures, said Tuesday that he anticipates the tower will break ground in late summer.

"The market's responded favorably, and we have financing interest," Tracy said.

ALV, based in Miami, is partnering with Tampa's Intown Group LLC and Framework Group LLC. Intown Principal Greg Minder did not respond to requests for comment.

Bob McDonaugh, the city's administrator of economic opportunity, has said the tower is on track for a "summer 2016 groundbreaking."

The tower is an eye-grabbing feature of renderings the Straz Center released Tuesday, which show the center's conceptual master plan for redeveloping its waterfront real estate. Straz officials said the tower rendering is based off the most recent public renderings available, from about one year ago.

The AER tower will join a wave of new residential construction in downtown Tampa. Nine 15, a 23-story tower, is under construction on North Franklin Street. Crescent Communities is working on another project, north of the Straz, and a South Florida developer has resurrected plans for a mixed-use development near Oxford Exchange.

Richman Group is building a low-rise apartment building on the southern fringe of downtown, and Florida Crystals is under construction on a mid-rise in the Channel district. A 23-story tower in the Channel district, adjacent to a planned Publix Super Markets Inc. store, is also in the works.

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