Ritz-Carlton's first Tampa presence breaks ground on Bayshore Boulevard
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 13, 2022

A Miami developer has started construction on Tampa's first Ritz-Carlton — a branded condominium tower on Bayshore Boulevard in South Tampa.

Related Group held a groundbreaking ceremony Wednesday to mark the official start of the Ritz-Carlton Residences, Tampa. Related executives and Mayor Jane Castor were in attendance.

"It’s an exciting, top-notch development that underscores how much Tampa is in demand," Castor said in a statement. "And every high-end development announcement like this reminds us that we also need to redouble our efforts to grow our supply of affordable housing."

The project, which includes 170 condos in two towers as well as 12 townhouses, is 85% presold, according to a representative from Related Group.

The Ritz-Carlton flag has been notably absent from Tampa Bay for several years. The development will have Ritz-Carlton branding and does not include hotel rooms, though the developer's agreement also includes Ritz-Carlton's management services.

Related paid $26.25 million in 2019 for the aging Bay Oaks apartments complex that previously occupied the nearly 5-acre site. Among the presales is an $11 million penthouse.