Downtown Tampa apartment land sells for $12.75 million
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Oct 9, 2023

An apartment developer has picked up a prime site in downtown Tampa for $12.75 million.

Richland Capital Holdings, an affiliate of Tampa-based Richland Investments, closed on .68 acres at 127 N. Tampa St. on Friday, according to Hillsborough County property records. The seller was an entity linked to Walton Street Capital.

Patrick DuFour, vice chairman with Newmark in Tampa, represented the seller in the transaction. DuFour marketed the property as a "high-rise site."

Development plans are still in the works, Troy Newberg, Richland's director of development, wrote in an email. Several skyline buildings surround the property; it is across the street from 100 North Tampa, where Regions Bank has signage rights, and sits catty-corner from the Wells Fargo Center.

“Our goal is to bring life to an underutilized block of downtown by activating the ground floor with retail and creating a special place for residents and visitors alike. Through high quality, thoughtful and intentional design, we look forward to delivering a world-class asset that will change the skyline of Tampa and withstand the test of time.”

Richland Capital has over 1,000 multifamily developments under development in Central Florida as well as over 500,000 square feet of industrial projects. In Tampa, its assets include The Gray apartments in South Tampa and Jetport Commerce Center near Tampa International Airport.