Channel district apartment towers get first Tampa City Council nod
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 7, 2022

A dual-tower apartment development on the northern end of downtown Tampa's Channel district has received preliminary approval from Tampa City Council.

The developers behind the project, VeLa Development Partners and Post Road Group, have asked the city to rezone about 1.5 acres north of East Twiggs Street at 1242 Channelside Drive. The rezoning request makes way for two towers — one 17 stories, the other 27 stories — totaling 532 apartments along with 8,000 square feet of commercial space.

Ten percent of the project — 54 units — have been dedicated to affordable housing. Council approved the rezoning request 6-0; councilman Luis Viera was absent.

The development is in a rapidly changing stretch of downtown Tampa between the Channel district and Ybor City. Once a moribund few blocks punctuated by parking for cruise passengers and decrepit warehouses, the area has two multifamily projects underway: The redevelopment of the J.H. Williams Oil Co. property and The Mav Channelside, a 19-story tower that is preleasing apartments. Irish pub Four Green Fields recently opened in a warehouse on North 12th Street.

VeLa plans to add to that dynamic: The developer wants to work with the Channel district Community Redevelopment Agency to improve pedestrian infrastructure along North 12th Street. CRAs are state-designated areas that retain all new or incremental tax money generated within their boundaries to fund future development.

"This is an important milestone for us, and we look forward to continue working with the City of Tampa to refine the plans for 1242 Channelside Drive and ultimately bring a remarkable project to this site," Nick Benjamin, VeLa Development Partners principal, said in a statement. "Tampa is one of the top growth markets in the U.S. and one in need of a mix of new housing options, and we're excited to bring new opportunities to the Channel District so that a wide range of future residents can live, work and play in this unique neighborhood."

Tyler Hudson, a partner with Gardner Brewer Hudson in Tampa, leads the project's legal team. Kimley-Horn is the engineer; Smallwood is the architect. Dark Moss is the arborist on the project and Lincks & Associates Inc. is the transportation engineer.