Gas Worx developers secure construction loan for apartments in first phase
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 20, 2022

The developers behind Gas Worx, a mixed-use project between the Channel district and Ybor City, have secured a construction loan for the district's first apartments.

Washington, D.C.-based Kettler and Tampa developer Darryl Shaw have taken out a $67.4 million loan from Valley National Bank, according to Hillsborough County property records.

The loan is for the construction of the first 315 apartments in the Gas Worx master plan, a representative for the developers told the Tampa Bay Business Journal. A groundbreaking ceremony will be held in early 2023.

Juneau Construction Co. has been hired as the general contractor for the first phase.

There are 719 apartments, 904 parking spaces and 20,000 square feet of retail space in the first phase of Gas Worx. At full buildout, the development will total 5.9 million square feet across 34 acres — generally north of Adamo Drive, west of North 15th Street, South of East Fifth Avenue and east of East Scott Street.

Gas Worx will help bridge the gap between the Channel district and Ybor City and provide an anchor on the northeastern corner of downtown Tampa. Read more about developer Darryl Shaw here.