These three big moves set the stage for downtown Tampa's next era
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jan 6, 2023

From the throngs of people crowded into Heights Public Market to Water Street Tampa’s new skyline, the last five years have been a transformational time for downtown Tampa.

Three big deals of 2022 could change the face of downtown even more in the next five years.

Miami-based Related Group purchased 6 acres on the west bank of the Hillsborough River — what will become the Riverfront district — for $55.5 million. Ybor City developer Darryl Shaw is assembling roughly 25 acres of closely watched waterfront land along the Ybor Channel. Strategic Property Partners, the developer of Water Street Tampa, has demolished the former Ardent Mills flour plant between the Channel district and downtown Tampa to make way for Water Street’s second phase.

Tyler Hudson, a land-use attorney and partner at Gardner Brewer Hudson Law in Tampa, refers to the current iteration of downtown Tampa development projects as “connective infill.”

“They’re mutually reinforcing each other, which hasn’t happened in the past,” Hudson, whose firm counts Related and Shaw among its clients, said of the projects.

The three developments are building on the momentum in the Channel district, Water Street and Tampa Heights, but they also fulfill a demand Tampa hasn’t previously seen. An influx of new residents from Chicago, New York and Washington, D.C., is creating more opportunities for urban development, Hudson said.

“We have a lot of people who are moving here who want to live in neighborhoods that don’t exist in sufficient numbers yet,” Hudson said, “and that’s why we’re seeing the enthusiasm for those types of projects.”

Here’s a look at three deals that are defining downtown Tampa’s next era:

The Riverfront district

Related Group is one of the Tampa Bay region's most prolific developers, and in the Riverfront district, it will embark on one of its biggest projects here yet. In July, Related paid $55.5 million for 6 acres on the west bank of the Hillsborough River, mostly at the intersection of South Parker Street and West Kennedy Boulevard.

The developer's proposal for the site includes 1,079 residential units with 32,760 square feet of retail space and 10 boat slips.

Why it's a game changer: Related will expand and enhance the Riverwalk on the west bank of the Hillsborough River. Plans are already underway to extend the west bank Riverwalk northward; Related's expansion will help better connect the Riverwalk to South Tampa.

Ybor Channel

Ybor City developer Darryl Shaw is assembling a closely watched piece of the downtown Tampa waterfront — the land ringing the Ybor Channel, smack-dab between Ybor City, Shaw's forthcoming Gas Worx development and the Channel district. The Business Journal broke this news in August; Shaw closed on the first piece of land in late November.

Shaw hasn't yet said exactly what his plans are for the property, which is roughly 25 acres. He will close on the land in phases, and some closings, contingent on the relocation of maritime jobs, may not happen for up to five years. It will include office, residential and commercial space; The Wharf in Washington, D.C., is among the inspirations for the project.

In mid-December, the Tampa Bay Business Journal obtained renderings of a Tampa Bay Rays stadium on the property. Shaw has declined to comment on the renderings or a public officials' assertion that he is negotiating with the team.

Why it's a game changer: Developing this portion of the downtown waterfront will better connect the Channel district to Gas Worx and historic Ybor.

Ardent Mills demolition

The developer of Water Street Tampa began dismantling the Ardent Mills flour mill on a sweltering July day under the watchful eye of business and civic leaders who attended a ceremony to mark the occasion. Water Street's second phase will expand north onto the flour mill property. Strategic Property Partners hasn't yet disclosed exactly what will be built there, it will be similar in nature to the district's first phase.

Why it's a game changer: The dismantling is far more significant than a site clearing. It will create a better-connected street grid between Water Street, the Channel district and the central business district.