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Water Street Tampa tops out largest apartment building, 1050 Water Street

The building is on track for completion this year.
This aerial view shows 1050 Water Street in the foreground of the Water Street Tampa development.
This aerial view shows 1050 Water Street in the foreground of the Water Street Tampa development. [ Strategic Property Partners ]
Published Mar. 12, 2021|Updated Mar. 12, 2021

The cranes aren’t coming down at Water Street Tampa anytime soon. But the downtown Tampa development just hit a notable milestone.

The largest building in the first phase of the $3.5 billion project, 1050 Water Street, has officially topped out, developers Strategic Property Partners said Friday.

At 22 stories and 495,000 square feet, 1050 Water Street is also the largest residential building in the Water Street development, with 490 apartments in the works.

Shown is a rendering of 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021.
Shown is a rendering of 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021. [ Strategic Property Partners ]

The building, which sits at the southeast corner of Water Street and E Cumberland Ave., will have an expansive rooftop pool space, fitness facilities, screening lounge, co-working space and 24-hour concierge service. The building will also have 32,000 square feet of retail space on the ground.

“The topping off marks a significant step for the team, and we are now focused on finishing the building’s unique facade and interior work,” Josh Christensen, the general manager of Suffolk Construction, which is handling the build, said in a statement.

Shown is a rendering of an interior of an apartment at 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021.
Shown is a rendering of an interior of an apartment at 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021. [ Strategic Property Partners ]
Related: Midtown Tampa's first luxury apartments now leasing; here's what's inside

At least two other Water Street residential projects are coming in 2021. Heron, a 420-unit apartment tower, began pre-leasing in December and will have its first move-ins by March 31. A group of 37 luxury residences at the Tampa Edition, part of a 26-story five-star hotel project, is scheduled to wrap construction by the end of the year.

Shown is a rendering of the pool area at 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021.
Shown is a rendering of the pool area at 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021. [ Strategic Property Partners ]
Related: Water Street Tampa's first Heron apartments hit market, and they aren't cheap

Construction on 1050 Water Street is expected to wrap by the end of the year, with move-ins expected in 2022. The building is also the final component of the first phase of Water Street Tampa, led by Tampa Bay Lightning owner Jeff Vinik and Bill Gates’ investment firm Cascade Investment. The building’s second phase will kick off in 2022.

Shown is a rendering of the lobby at 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021.
Shown is a rendering of the lobby at 1050 Water Street, the largest building in the first phase of the Water Street Tampa development. The building topped out in March and is scheduled for completion by the end of 2021. [ Strategic Property Partners ]
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Related: Water Street's Tampa Edition hotel tops out at 26 floors, aims to open this year

Vinik is part of a local investment group that has loaned $15 million to the Times Publishing Company, which owns the Tampa Bay Times.

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