New York developer moves forward with apartments near downtown's Floridan hotel
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Nov 29, 2022

A New York developer who bought a vacant block in downtown Tampa earlier this year is moving forward with a mixed-use project on the property.

Silverstein Properties, which paid $19.75 million for the .78 acres at 505 E. Tyler St., has submitted plans to the city for a 450-unit residential building with 11,500 square feet of amenity space and 9,430 square feet of commercial space on the ground floor. The initial filing did not specify the tower's height.

Kimley-Horn is the engineer on the project.

Representatives from Silverstein were not immediately available for comment Tuesday.

The development plans have changed only slightly since Silverstein bought the land in May and announced plans for 430 apartments, 15,000 square feet of retail space and 600 parking spaces. Silverstein acquired the land from South Florida-based 1754 Properties and its partner Triangle Capital. Those firms sold off the vacant lot after acquiring the adjacent Floridan Palace Hotel.

Silverstein's plans are part of a wave of residential development in the central business district that's just beginning to take shape. For the last decade, the majority of Tampa's urban multifamily boom has been in the neighborhoods that ring the central business district — Water Street Tampa, The Heights and the Channel district.

X Tampa, a 28-story co-living tower that offers rent-by-bed living arrangements, is under construction at 701 N. Florida Ave. Kolter Urban is planning a luxury condo tower, ONE Tampa, at the intersection of East Twiggs and North Tampa Street.