James Nozar has been busy planning the future of downtown Tampa
By Justine Griffin
Tampa Bay Times
Published: Jul 27, 2016

LAKEWOOD RANCH - James Nozar has had a busy five months.

Since being hired as chief executive of Strategic Property Partners in February, the 37-year-old real estate developer has been busy going through plans his predecessors created for downtown Tampa. SPP, the private real estate company owned by Tampa Bay Lightning owner Jeff Vinik and Bill Gates' Cascade Investment, is responsible for designing and implementing a plan to transform 40 acres of downtown Tampa into a new walkable, sustainable district.

The plan includes developing the area west of Channelside Bay Plaza into six residential towers, two office space buildings and a slew of retail and park-like spaces. The development does not yet have a name, but Nozar said it will next year.

Nozar described it as "creating a city within a city" while speaking to a business luncheon at Lakewood Ranch, just south of Hillsborough County in Manatee County, on Wednesday.

It was among the first of likely many speaking engagements for Nozar, who as the CEO overseeing a $2 billion major overhaul of downtown Tampa, is still finding his footing in Tampa Bay.

"The plan is evolving," Nozar said. "We're paying a lot of attention to air quality and views. This place can be everything for a lot of different people."

At the event, Nozar talked in detail about the first phase of the project. He used Powerpoint slides to show the layout of the project. One map called for six separate residential towers, which Nozar said will range from studio apartments for millennials to "basically senior living."

Nozar is expected to present a more detailed plan for what comes next for Bay Plaza to the Tampa Port Authority later this summer. Some existing tenants were given eviction notices earlier this month.

Nearly $35 million in roadway and infrastructure improvements is set to begin on Aug. 29, which is the first major step in preparing the 40-acre southeast corner of downtown for vertical construction.

Building permits have not yet been filed and that date is subject to change. But SPP officials have already met with local subcontractors this summer.

The road work, which will widen sidewalks, change traffic patterns and add more on-street parking to the region, will likely be a 12- to 18-month process, Nozar said. The construction will be done in phases as to not affect day-to-day traffic in the area.

"We want to build as fast as possible," Nozar said. He anticipates the project being done by mid to late 2020.

SPP is expected to announce major tenants later this year, which could include a flagship for a second 400-room hotel the real estate company wants to open across the street from the existing Marriott Waterside Hotel & Marina. SPP is hoping to lure at least one major office tenant.

Nozar told the crowd that SPP has been talking with out-of-town companies and many that are already in Florida who "have plans to bring thousands of more workers into the state."

"We are designing the new hotel now and expect construction to start next year," he said. Around that time Nozar said SPP will announce new branding for the project, which will include a name and updated images.

The recently approved University of South Florida Morsani College of Medicine is expected to host its first class of students in the spring semester of 2019 once the new facility is built downtown, Nozar said.

He added that the project will have a "huge focus" on the 300,000 square feet of retail and restaurant space.

"We want it to play a big role in the core of the city," he said.

Reach Justine Griffin at jgriffin at tampabay.com. Follow @SunBizGriffin.