Tuesday, May 22, 2018
Real Estate

Massive Midtown Tampa project signs Crescent Communities to build 390 apartments

TAMPA — Crescent Communities has built hundreds of high-end apartments around Tampa in recent years and will build 390 more above a base of ground-floor stores and restaurants as part of the $500 million Midtown Tampa project, developers announced Thursday.

Construction on the Novel Midtown Tampa apartments is scheduled to begin late this year, with completion expected in the second half of 2020.

Neither unit sizes nor rental rates have been determined yet, said Margie Martin, spokeswoman for The Bromley Companies, the New York-based master developer for Midtown Tampa.

The apartments will be part of Midtown Tampa’s 1.8 million square feet of office, residential, retail, entertainment and hospitality development on 22 acres at the southeastern corner of Interstate 275 and Dale Mabry Highway.

PREVIOUS COVERAGE: Developer plans $500 million Midtown Tampa project near Westshore

Based in Charlotte, N.C., Crescent has developed 60-plus master-planned communities of single-family homes, more than 20 million square feet of commercial space and 32 multifamily projects, including the 394-apartment Novel Riverwalk near the David A. Straz Jr. Center for the Performing Arts.

The Novel Riverwalk, which recently started leasing, has about the same number of apartments as the project planned at Midtown Tampa. It includes studio, one-, two- and three-bedroom apartments with 528 to 1,510 square feet of space, a parking garage, fitness center and two saltwater pools.

Locally, Crescent also developed and sold the Crescent Bayshore, Crescent Crosstown and Crescent Westshore apartments.

"Tampa has really evolved into an attractive market, with strong employment growth and an active, livable environment, making it ripe for the first truly-integrated, walkable, mixed-use development in this region," Crescent senior managing director Jay Curran said in a statement released by the Bromley Companies.

The Novel Midtown Tampa apartments will be within walking distance of a recently announced 48,000-square-foot Whole Foods Market and 4 acres of activated outdoor space.

"The vibrant, walkable environment at Midtown Tampa is the ideal location for Novel, where residents will have access to experiences and spaces with a vibrant energy day and night," Bromley Companies CEO Nicholas Haines said in announcing Crescent’s involvement with the project.

MORE: Go here for more Business News

Contact Richard Danielson at [email protected] or (813) 226-3403. Follow @Danielson_Times

Comments
One of Ybor City’s most historic blocks about to see construction of four-story boutique hotel

One of Ybor City’s most historic blocks about to see construction of four-story boutique hotel

TAMPA — Developers are poised to launch construction this week on one of Ybor City’s biggest new projects in years — a four-story, $50 million boutique hotel being created by a Chicago company that seeks out neighborhoods rich in color and character....
Published: 05/21/18
Updated: 05/22/18
Lawsuit over Riverwalk Place tower in downtown Tampa settled

Lawsuit over Riverwalk Place tower in downtown Tampa settled

TAMPA — A lawsuit over the mix of residences and offices in the planned $350 million Riverwalk Place tower has been dropped.Last August, Riverwalk Tower Investment-Intown LLC, which had been expected to be one of the developers in the project, filed ...
Published: 05/18/18
Surge of home starts in Hillsborough, Pasco still can’t meet demand

Surge of home starts in Hillsborough, Pasco still can’t meet demand

APOLLO BEACH — Every weekend, scores of prospective buyers stream through the dazzling model homes at Waterset, admiring the high-end lighting, the glass-tile backsplashes, the plank-tile floors For prices ranging from the $200s to the $800s, lookers...
Published: 05/17/18
Updated: 05/18/18
Good news for Realtors — more home buyers moving to Tampa Bay

Good news for Realtors — more home buyers moving to Tampa Bay

Put out the welcome mat — more people are on their way to Tampa Bay. Judging from loan applications, the bay area ranks sixth among the 10 metro areas where prospective home buyers are most likely to move in the next few months. Colorado Sprin...
Published: 05/17/18
Tampa-based HG Management books $120 million sale in South Florida

Tampa-based HG Management books $120 million sale in South Florida

TAMPA — HG Management of Tampa on Friday said it has sold a 32-acre apartment and townhome project, The Quaye at Wellington, in Palm Beach County for $120 million.The Quaye at Wellington was completed in spring of 2017 with a total of 350 units, incl...
Published: 05/11/18
Massive Midtown Tampa project signs Crescent Communities to build 390 apartments

Massive Midtown Tampa project signs Crescent Communities to build 390 apartments

TAMPA — Crescent Communities has built hundreds of high-end apartments around Tampa in recent years and will build 390 more above a base of ground-floor stores and restaurants as part of the $500 million Midtown Tampa project, developers announced Th...
Published: 05/10/18
South Tampa to get first large, new, Class A office building in 30 years

South Tampa to get first large, new, Class A office building in 30 years

TAMPA — The family that developed Tampa’s Sunset Isles and Beach Park Isles is planning South Tampa’s first significant Class A office Space in 30 years.The project, called Crown Tower, will include an eight-story, 102,355-square-foot building; a se...
Published: 05/09/18
Updated: 05/10/18
Tampa’s first luxury condo tower with just one residence per floor planned on Bayshore Boulevard

Tampa’s first luxury condo tower with just one residence per floor planned on Bayshore Boulevard

TAMPA — Fresh off their success with a condo tower in downtown St. Petersburg, a husband-and-wife development team now plan a luxury high-rise on Tampa’s Bayshore Boulevard. The Sanctuary at Alexandra Place will have just 15 units — 14 covering an en...
Published: 05/08/18
Colliers International names new director of Tampa Bay, Central and Southwest Florida operations

Colliers International names new director of Tampa Bay, Central and Southwest Florida operations

TAMPA — Colliers International announced a new director of its Tampa Bay, Central and Southwest Florida operations on Monday. Danny Rice, 34, who got his start at Colliers in Orlando before leaving to pursue other real estate ventures, will return to...
Updated one month ago
Three big new apartment projects underway in Tampa Bay

Three big new apartment projects underway in Tampa Bay

Tampa Bay’s apartment boom is continuing unabated with three big, mid-priced projects coming out of the ground. In a joint venture, the giant Carlyle Group and Ohio-based NRP Group are clearing ground for the 274-unit Allure at Gateway on U.S. 19 in ...
Updated one month ago