Tampa developer buys land for second phase of Place at Channelside
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: May 22, 2023

A Tampa developer has acquired a half-acre of land along Channelside Drive where plans have long called for a second phase of The Place at Channelside.

An entity linked to Framework Group LLC paid $7.85 million for the .54-acre parcel at 940 Channelside Drive on May 15, according to Hillsborough County property records. The same entity secured a $5.725 million mortgage from SJP Investment Properties LLC, which is based in Holiday.

Phillip Smith, Framework president, was not immediately available for comment Monday.

The previous owner of the land, a Chattanooga hotel developer, paid $4.73 million for the property in late 2020.

The hotel developer, Dynamic Group, sought to rezone the land in 2022 to make way for a 32-story, 280-unit residential tower. Now, Framework Group is seeking a substantial change approval from city staff to make way for a 32-story tower with 262 multifamily units and 770 square feet of commercial space. Substantial change determinations do not require public hearings.

The second phase of The Place was originally approved in 2006. The property is currently approved for "a total buildable square footage of 311,360 square feet," according to the substantial change request.

The 32-story tower now proposed on the site would total less square footage than that.

"The property was sold and the development intent has varied, though non-substantially," the document states.