Developer closes financing for downtown Tampa Publix, 21-story tower
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Sep 26, 2016

All of the pieces for a long-awaited Publix Super Markets Inc. store and accompanying 21-story residential tower in downtown Tampa are finally in place.

Canyon Partners Real Estate LLC on Monday announced that it has funded $14.3 million of preferred equity to a joint venture between ECI Group and Mercury Advisors to develop the Channel Club, which is between East Twiggs and East Madison streets along Meridian Avenue.

"We are glad for the opportunity to team up with Canyon and Mercury as we break ground in one of the fastest-growing real estate markets in the region,” Seth Greenberg, CEO of ECI Group, said in a statement. "The Channel Club is our third partnership with Canyon, and we look forward to continuing to invest and build together in the future.”

KAST Construction, the general contractor on the project, confirmed Monday that it officially signed an agreement with the developers to build the project.

The Tampa Bay Business Journal reported that construction on the long-awaited project was underway on Friday.

The Channel Club includes a 21-story residential tower with 323 units as well as a 38,233-square-foot Publix grocery store.

The tower will be built first; once it has topped out, construction will begin on the Publix store.

"This project has been a long time coming," Publix spokesman Brian West said in a statement. "We're very excited to see a tangible beginning, and our customers in the Channel district will be excited, as well. We're looking forward to providing them with a more convenient Publix shopping experience.”

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