Related Group inching toward vertical construction in downtown Tampa's Riverwalk district
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Aug 2, 2023

Three towers in downtown Tampa's next mixed-use district are moving toward breaking ground in 2024.

Miami-based Related Group, which has changed the name of the Riverfront district to the Riverwalk district, plans to begin construction on three towers next year:

the 24-story District Flats, which has 362 units

the 38-story Icon Riverwalk, which has 269 units

an eight-story student housing building with 209 units and 606 beds

Exact unit counts and tower heights are subject to change, a representative for Related said.

This phase of construction will also include a Riverwalk on the west bank of the Hillsborough River as well as 30,000 square feet of retail space.

District Flats, which has also been called The Parkview, will be in front of the Hillsborough County Aviation Authority on Aug. 3 to seek a height variance. A hearing officer previously found that the tower would not interfere with operations at Peter O. Knight Airport on Davis Islands, according to the airport authority's meeting agenda.

If the aviation authority approves that tower, Related expects "to submit for the master permit in September of this year and break ground in the first quarter of 2024," Arturo Pena, senior vice president of development, said in a statement.

The developer applied for a foundation permit in June, Pena said. Related paid $55.5 million for the Riverfront district site in July 2022.

Related Group has become one of Tampa Bay's most prolific developers. It is behind the Ritz-Carlton Residences, Tampa, which is under construction on Bayshore Boulevard. Icon Riverwalk will be the third Icon-branded tower Related has built in Tampa Bay; Icon Harbor Island and Icon Central in St. Petersburg both sold for top-of-market pricing.

Arabelle Riverwalk, also on the west bank of the Hillsborough River, was developed by Related as Manor Riverwalk. Its sale was the first time in Tampa Bay history that a market-rate apartment property sold for more than $500,000 per key.