Related Group scores deal with Ritz-Carlton on Bayshore residential development
The hospitality group will oversee the maintenance and upkeep of the project

By Natalie Weber
Tampa Bay Times
Published: Jul 8, 2020

TAMPA — The Miami-based Related Group announced Wednesday that its planned five-acre residential development on Bayshore Boulevard would be managed by the Ritz-Carlton.

The project — the Ritz-Carlton Residences, Tampa — will include condominiums and townhouses, with two high-rise buildings with about about 100 units each. Related Group said that the Ritz-Carlton Hotel Company, L.L.C. and its affiliates do not own the project, nor are they involved in its development or sale.

However, the hospitality group will oversee the maintenance, operations and upkeep of the residential development. This partnership will allow residents access to leading services from a luxury brand, Related senior vice president Mike Hammon said.

“Basically, you’re buying into the Ritz lifestyle,” he said in a phone interview with the Tampa Bay Times.

The project will be presented for approval from the Tampa City Council on July 16. Related Group first filed plans for the development in February. Townhouse and condominium pre-sales for phase one of the project will begin in late 2020. Hammon said units range in price from about $1.7 million to $5 million. Construction for this phase is expected to begin in late 2021 and finish in 2024.

“Tampa is emerging as a vibrant, next-generation city and after seeing this maturation first-hand, we feel the market is ready for a project of this caliber,” Hammon said in a news release.

The residential development, which will be located just south of W Bay-to-Bay Boulevard, includes private elevator entries, views of the Bay and open floor plans. The Tampa Bay Times previously reported that the development will also include a 378-space parking garage with an amenities deck, surrounded by 17 ground-level homes. This will allow the development to scale down as it approaches neighborhood roads, such as W Santiago Street.

Related Group’s sixth project in the Tampa Bay area is planned to replace Bay Oaks Apartments. The 1970s era complex has 176 apartments and is located south of W Bay-to-Bay Boulevard.