Three-building, mixed-use development proposed for downtown Tampa
By Frances McMorris
Tampa Bay Business Journal
Published: Oct 24, 2016

A new mixed-use development is being proposed for downtown Tampa at the former Lafayette Street Bridge, that will add to the city's skyline and aims to bring in new office, hotel, retail and residential space.

Tampa-based real estate firm Hillsborough River Realty Company (HRRC) is applying for a mixed-use development rezoning of six acres near the Kennedy Boulevard Bridge that will be known as "Lafayette Place,” according to a release.

The three-parcel development plan will provide for a blend of residential, hotel, office and retail uses and will total approximately 1.7 million gross square feet. See renderings of the project in the photo gallery.

"Lafayette Place is an exciting, thoughtfully planned and attractively designed mixed-use development that will significantly impact the future of downtown Tampa," said John Avlon, president of HRRC. "HRRC is a long-term investor who always had great faith in downtown Tampa's future. HRRC believes now is a good time to invest money in conceptual design because Tampa is on a positive trajectory."

Construction and financing costs will be under analysis pending rezoning approval from the city of Tampa, the company said in a statement.

Lafayette Place will offer three new structures:

Lafayette Tower, with 355 linear feet of Hillsborough River frontage, will include office, hotel and retail uses. Lafayette Parkview will offer extraordinary high-end residential homes, retail, and parking.

Lafayette Central will offer high-end residences, retail, and parking.

A sky bridge is planned to connect Lafayette Tower with Lafayette Parkview.

Additionally, the development Lafayette Place will also expand the Riverwalk to the west bank of the Hillsborough River.

The name recognizes the historical significance to the City of the Lafayette Street Bridge, completed in 1889 and the first general traffic bridge across the Hillsborough River. Its name was changed to Kennedy Boulevard Bridge in 1963, according to the release.

HRRC, which has been doing business in Tampa for over 30 years, owns the three parcels, two of which are located on the southwest bank of the Hillsborough River and the Kennedy Boulevard Bridge, intersected by Parker Street. The third parcel is proximately located in the nearby Grand Central District. The Lafayette Place mixed-use plan furthers the objectives of InVision Tampa, the city's master plan for Tampa Center City that confirmed Mayor Bob Buckhorn's vision of the Hillsborough River as the center of downtown Tampa.

There will be parking well in excess of requirements, HRRC said. The original plan contemplated a high-rise office tower with ancillary retail space and two 10-story parking structures devoted to the office tower.

In August, the Tampa City Council granted final approval to Altman Cos., which is planning a mixed-use building near the Oxford Exchange. That project include 9,750 square feet of retail space and 314 residential units on a 2.5-acre site bound by Grand Central Avenue to the north and Cleveland Street to the south, Cedar Street to the east and Magnolia Street to the west. Construction is slated to begin by the end of the year, and the first residents should move in by spring 2018.

Additionally, construction has begun on a long-awaited 36,900-square-foot Publix Super Markets Inc. store, which will have an accompanying 22-story residential tower in downtown Tampa's Channel Club. Canyon Partners Real Estate LLC has funded $15.4 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.

Frances is a reporter for the Tampa Bay Business Journal.