Thursday, June 21, 2018
Real Estate

Developer plans $500 million Midtown Tampa project near Westshore

TAMPA — In what would be one of Tampa Bay’s biggest developments, a New York company plans a 1.8 million-square-foot project designed to help link downtown Tampa with the city’s booming Westshore area.

Midtown Tampa, a potential half-billion dollar project at the southeast corner of 1-275 and North Dale Mabry Highway, would include 240,000 square feet of retail and entertainment space; 750,000 square feet of Class A office space; 400 condos or apartments and a 225-room boutique hotel.

A full-color rendering released today by the developer, the Bromley Companies, shows mid-rise buildings situated around a landscaped pedestrian plaza with pond and fountain.

"Our vision is to inspire a transformative, truly walkable district connecting downtown Tampa and (the) Westshore Business District," Nicholas Haines, Bromley’s chief executive officer and master developer, said in a statement. "The site will be recognized for its dynamic combination of office, retail, hotel and four-acre pedestrian-friendly public spaces."

RELATED COVERAGE: More people calling West Shore business district home sweet home

Once known primarily for its malls and office buildings, Westshore has become an increasingly popular place to live with hundreds of new apartments and condos being built in the last few years.

Bromley has owned the 22-acre Midtown site, bounded on the east by Himes Avenue and on the south by Cypress Street since the early 1990s. Earlier, it was known as the Tampa Bay One site. The only structure now on the property is an office building that the company owns and manages.

An estimated 250,000 vehicles a day pass by the site, which at one point Hillsborough County pitched as a potential ballpark for the Tampa Bay Rays.

"Bromley Companies’ substantial investment and decades-long commitment to developing this prime location is a huge economic win for the city’s continue growth," Tampa Mayor Bob Buckhorn said in a statement.

RELATED COVERAGE: Optimistic 2018 construction forecast tempered by worker shortage

City staffers currently are reviewing a rezoning application for the property. If approved, the development could be completed by 2021.

At an estimated cost of $400 million to $500 million, Midtown Tampa joins a list of mega projects that are transforming Tampa. Among them:

• A $1 billion update of Tampa International Airport with an already completed people mover and rental car center;

• The $3-billion-plus Water Street development in the downtown Tampa-Channelside area with up to 9 million square feet of offices, hotels, residences, shops, entertainment venues and the University of South Florida Medical School;

• The $1.7 billion Port Tampa Bay mixed-use redevelopment of 45 acres in the Channelside area;

• The $350-million West River Redevelopment project along the Hillsborough River near downtown Tampa;

• The $200 million Westshore Marina District with apartments, condos, shops and restaurants.

MORE: Go here for more Business News

Bromley owns and manages several million square feet of office, retail, residential and industrial space throughout the Northeast, South and Midwest. Among its holdings are office buildings on Manhattan’s prestigious Fifth Avenue that include the global headquarters of Barnes & Noble, the design studios for Carters/OshKosh children’s clothing and offices of Chanel and Green Mountain Coffee. Retail tenants include The GAP and GAP Kids.

Contact Susan Taylor Martin at [email protected] or (727) 893-8642. Follow @susanskate

Comments
Romano: Intrigue behind all those manicured lawns

Romano: Intrigue behind all those manicured lawns

I’ve always thought homeowners associations had a lot in common with cops.People love to complain about them and often accuse them of abusing their power. And yet as soon as a neighbor paints his house a hot shade of fuchsia, you’re screaming for the...
Published: 06/21/18
A tight supply cuts into Tampa Bay home sales while prices keep rising

A tight supply cuts into Tampa Bay home sales while prices keep rising

Tampa Bay’s two largest counties showed anemic home sales in May as prices continued to rise due to a tight supply. In Pinellas, sales of single-family home plunged nearly 12 percent from the previous May, the second-worst showing in a year. P...
Published: 06/20/18
Updated: 06/21/18
Demolition looms for old Bromley office building at Midtown Tampa

Demolition looms for old Bromley office building at Midtown Tampa

TAMPA — Over the past month, demolition crews have gutted the old five-story Bromley office building at the future site of the $500 million Midtown Tampa project.On Sunday, the remaining skeleton of the building is scheduled to come down.The demoliti...
Published: 06/20/18
What historically high lumber prices mean for Florida home buyers

What historically high lumber prices mean for Florida home buyers

Blame a lack of rail cars in Canada or not enough semi trucks in the United States. Forest fires didn’t help. Tariffs played a big role, too. Even the buoyant economy takes part of the rap for frothy lumber prices, which hit all-time highs las...
Published: 06/20/18
What historically high lumber prices mean for Florida home buyers

What historically high lumber prices mean for Florida home buyers

Blame a lack of rail cars in Canada or not enough semi trucks in the United States. Forest fires didn’t help. Tariffs played a big role, too. Even the buoyant economy takes part of the rap for frothy lumber prices, which hit all-time highs las...
Published: 06/20/18
Report: 40 percent of Florida property will be ‘highly exposed’ to flooding

Report: 40 percent of Florida property will be ‘highly exposed’ to flooding

One of Florida’s biggest draws is also one if its biggest liabilities — its coastline. A new report projects that Florida is at the greatest risk of any state for tidal flooding caused by rising sea levels. And Tampa Bay faces some of the greatest ri...
Published: 06/18/18
Developer Grady Pridgen buys St. Pete’s shuttered Edward White Hospital

Developer Grady Pridgen buys St. Pete’s shuttered Edward White Hospital

ST. PETERSBURG — Edward White Hospital, closed four years ago because of declining revenues, has been sold to developer Grady Pridgen for $2.7 million.Pridgen could not be reached Monday for comment. City officials said he has submitted plans for rem...
Published: 06/18/18
St. Petersburg home becomes finalist in HGTV contest

St. Petersburg home becomes finalist in HGTV contest

ST. PETERSBURG — A house in St. Petersburg’s Old Northeast is a finalist in HGTV’s Ultimate House Hunt contest. Built in 2007 in the Mission Revival style, the 4,000-square-foot home a block from Coffee Pot Bayou is among 12 nationwide in the "curb a...
Published: 06/15/18
Updated: 06/18/18
Tampa-based Robbins Property Associates pays $43-million for Boynton Beach apartment community

Tampa-based Robbins Property Associates pays $43-million for Boynton Beach apartment community

Tampa-based Robbins Property Associates, has bought Aventine at Boyton Beach, a 216-unit apartment community, for $43 million.Aventine, garden-style apartments that are 95 percent occupied, will be renovated and renamed "Verona at Boynton Beach."It i...
Published: 06/15/18
‘Co-buyers’ account for a good chunk of Tampa Bay homes sales

‘Co-buyers’ account for a good chunk of Tampa Bay homes sales

More than 17 percent of Tampa Bay homes sold in the first three months of this year went to "co-buyers,’’ non-related persons whose names are on the deed, ATTOM Data Solutions found. That reflects a nationwide trend as rising home prices make it hard...
Published: 06/14/18