Advertisement

Editorial: Vinik's promising vision for downtown Tampa

 
This artist’s rendering shows what the southern end of downtown Tampa would look like once Jeff Vinik’s new project is complete, bringing 3 million square feet of new development around Amalie Arena.
This artist’s rendering shows what the southern end of downtown Tampa would look like once Jeff Vinik’s new project is complete, bringing 3 million square feet of new development around Amalie Arena.
Published Dec. 18, 2014

Jeff Vinik laid out an exciting plan Wednesday that promises to reshape the look and economics of downtown Tampa. His village concept for the Channel District would bring a barren landscape to life, create jobs, build tourism and bring more energy to a reimagined portion of the city. Unlike previous entrepreneurs with big dreams and few assets, Vinik has the land, money and vision to be successful. The challenge now is to get it right.

The Tampa Bay Lightning owner unveiled his long-awaited vision for the 40 acres he owns or manages around the Amalie Arena. Before an audience of several hundred at the Marriott Riverfront he owns, Vinik sketched out a broad but aggressive development plan that includes a new hotel, shops, condominiums, restaurants, office towers, parks and a new medical school for the University of South Florida.

None of the many pieces are a surprise, and several will increase visitors to Vinik's hotel and entertainment venues. The medical school, if approved by the state, would bring a new population and revenue base that could attract higher-paying industries to the office complexes. But the private business end of this plan blends well with many public advantages, from creating a lively destination and a more competitive convention market to building new public parks and a livable community, to opening up the waterfront.

Vinik estimated the $1 billion build-out would occur over 10 years, perhaps sooner. His plan, which could get under way next summer, calls for straightening the street grid on downtown's east side, extending roads and pedestrian paths to the water, creating a water shuttle to serve downtown's island communities and opening up new park space. Vinik said the project could have an annual economic impact of nearly $1 billion, supporting 3,700 direct jobs and paying $35 million annually in state and local taxes.

This development is the most ambitious ever for downtown Tampa, and it presents many public benefits, from a boost in jobs, wages and taxes to the opportunity to build a more livable, sustainable and exciting city center. And it would build the critical mass necessary to bring a grocery, better mass transit and other vital amenities to downtown at the very time that more people and industries nationwide are returning to the urban core.

Still, there are many details to answer: How would the project be affected if the state rejects or delays a downtown medical school? How would local government and Vinik's private investment group divide the cost of improving public services and infrastructure? How would the city keep Vinik to a reasonable timetable on the build-out? And how does the project affect the emerging debate over what to do with Tampa's working port?

Vinik's proposal puts into play a city vision for the Channel District that dates back for decades. It gives new life to a historic and underused part of downtown where the waterfront has as much to offer the public as it does to Vinik's group. The city should continue to work with him, and Vinik should continue his commendable efforts to solicit public input on his still-evolving vision.