New apartments by Tampa Riverwalk moving forward
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Sep 27, 2016

A Charlotte, North Carolina developer has closed on a site near downtown Tampa's Riverwalk where it plans to build nearly 400 apartments.

Crescent Communities paid $8.1 million for a 5-acre site at 109 W. Fortune St. in a deal that closed Friday, according to a Hillsborough County deed filed Tuesday.

Crescent also closed on a $51.2 million loan from JPMorgan Chase on Friday, according to public records.

Eshenbaugh Land Co. represented the seller, Denholtz Associates, in the transaction.

The apartments will be built in two five-story buildings, according to plans filed with the city of Tampa. A six-and-a-half-story parking garage will also be part of the development.

A Crescent executive recently told the Tampa Bay Business Journal that the company is bullish on Tampa. It recently opened Crescent Westshore and in 2014 sold Crescent Bayshore for a record-setting $111 million.

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