Advertisement
  1. News
  2. /
  3. Business

CapTrust demolition to clear site for Tampa’s Riverwalk Place tower

The site was once the proposed location for Trump Tower Tampa before that project collapsed.
The CapTrust building located on the Riverwalk in downtown Tampa is slated for demolition starting this week. [OCTAVIO JONES  |  Times]
The CapTrust building located on the Riverwalk in downtown Tampa is slated for demolition starting this week. [OCTAVIO JONES | Times]
Published Sep. 24, 2019
Updated Sep. 25, 2019

TAMPA — A wrecking ball is scheduled to start bringing down the old CapTrust building near the Hillsborough River Wednesday, clearing the way for the planned 50-plus floors of the Riverwalk Place condominium tower.

Demolition of the existing six-story building is expected to begin around 7 a.m. No explosives will be used, but the Riverwalk will be closed while work is under way. Traffic detours around the site at W Whiting Street and Ashley Drive may be in place for several weeks:

• Southbound traffic on Ashley Drive will be routed east onto Whiting Street and then to Tampa Street to go south.

• Northbound Ashley Drive traffic will be routed one block east to Franklin Street to go north.

• Pedestrians on the Riverwalk will be rerouted during weekdays. The Riverwalk may be opened nights and weekends as safety allows.

A developer’s representative said he had no update Tuesday on when construction of the tower might begin. In July, developers stopped taking reservations for the condos. They said the halt was temporary while they revised floor plans for the project, which had been changed from a mix of office and residential space to all residential with restaurants on the ground floor. Once the new floor plans were ready, they said, prospective buyers could reserve units with the updated design.

Riverwalk Place is being developed by Feldman Equities of Tampa in partnership with Two Roads Development, based in South Florida. Late last year, developer Larry Feldman said buyers already had put down deposits of $25,000 to reserve nearly $70 million worth of units in the tower. Model rooms were designed by Thom Filicia of TV’s Queer Eye for the Straight Guy, who also designed the tower’s lobby and other common areas.

“That’s a beautiful, beautiful project,” said Mayor Jane Castor, who said she hoped construction on Riverwalk Place would begin soon. “I do not have a current timeline on that particular project.”

The project site, which Feldman bought for $12.05 million in 2015, once was touted by a different local development group as the future home of Trump Tower Tampa.

In the 2000s, Donald Trump, then years away from his history-making run for the White House, licensed his name for use by the project in exchange for a $2 million fee and a percentage of condo sales.

But the 52-story tower, which Trump said would be “so spectacular that it will redefine both Tampa’s skyline and the market’s expectations of luxury,” never got built after construction costs rose, financing dried up and the real estate market collapsed. Dozens of would-be residents had put down deposits, with some losing more than $250,000.

RELATED STORY: Buyers still feel burned by Donald Trump after Tampa condo tower failure

Contact Richard Danielson at rdanielson@tampabay.com or (813) 226-3403. Follow @Danielson_Times

ALSO IN THIS SECTION

  1. A beer is pictured in the outdoor games area of Park & Rec on Wednesday, May 22, 2019 in St. Petersburg. [LUIS SANTANA  |  Tampa Bay Times]
    The Towers of Channelside condo association has filed a lawsuit against the bar, as residents complain about noise.
  2. Yacht StarShip, a dining and water taxi company, has added the Lost Pearl pirate ship to its fleet just in time for Gasparilla. [Yacht StarShip]
    After years entertaining tourists in Virginia Beach, the Lost Pearl is settling into its new Tampa Bay home.
  3. Bank OZK CEO and chairman George Gleason, left, and managing director Greg Newman are photographed at the OZK Wynwood branch in Miami on November 13, 2019. [CARL JUSTE | Miami Herald] [Carlt Juste | Miami Herald]
    In fact, Bank OZK has emerged as a powerhouse in commercial lending generally.
  4. Flooding from an October king tide in Miami Shores fills streets, sidewalks and driveways at its peak. [Miami Herald]
    And it could lose up to 35 percent of its value by 2050, according to a new report.
  5. Delta Air Lines said Friday it will launch five new round-trip routes a day between Tampa and Miami starting May 4. (AP Photo/Mark Lennihan, File) [MARK LENNIHAN  |  AP]
    Delta says the daily nonstop Miami service will create new connections for Tampa travelers to fly to Latin America and other international destinations.
  6. The Undercroft — the new home to a branch office of TheIncLab, an artificial intelligence firm — provides work space for several cybersecurity companies in one of Ybor City’s most historic structures, the El Pasaje building on E Ninth Avenue. RICHARD DANIELSON | Times [Richard Danielson]
    The Washington, D.C.-area company expects hiring 15 developers and engineers in the next twelve months and partnering with bay area universities to augment its staff with student interns.
  7. FILE - In this Dec. 17, 2019, file photo Amazon packages move along a conveyor prior to Amazon robots transporting packages from workers to chutes that are organized by zip code, at an Amazon warehouse facility in Goodyear, Ariz. Cashless shopping is convenient, but it can be a budget-buster. This year, make it more difficult to spend money online. This could help cut out some of your impulse purchases. (AP Photo/Ross D. Franklin, File) [ROSS D. FRANKLIN  |  AP]
    Here are some tips to avoid wasting money when you shop.
  8. Lori Baggett, managing partner of Carlton Fields in Tampa. [Carlton Fields]
    The Carlton Fields firm announced her promotion earlier this month.
  9. A new Publix in the Channell district located on the corner of E Twiggs Street and N Meridian Avenue in Tampa. [OCTAVIO JONES   |   Times] ["OCTAVIO JONES   |   TIMES"  |  Tampa Bay Times]
    Meanwhile in Tampa, the Westshore store could open soon.
  10. The Sears at University Mall near the University of South Florida in Tampa is in the process of being torn down to make way for a new mixed-use development project. [RD Management]
    This is what developers plan for the old Sears stores at University Mall and Citrus Park.
Advertisement
Advertisement
Advertisement