New High-Rise Residential Complex to Be Built in Downtown
Mayor Bob Buckhorn announced today that the Intown/Framework Group, LLC will invest $85 million to create a new high-rise, 350-unit residential complex in downtown Tampa. The parcel of land is currently the right-of-way between Cass and Tyler streets, and as part of the development, the City of Tampa will sell that land and reconfigure the streets, allowing both to become two-way.
“Our partners, from the Straz Center and the team at Intown/Framework, share a vision for downtown, and I could not be more excited about how this project will transform the area. The project allows us to make a strong physical and important visual connection between Curtis Hixon and the Arts District to the Straz Center and North Downtown,” said Mayor Bob Buckhorn. “Reconfiguring the streets will make all of those amenities and the Hillsborough River more accessible.”
The project includes 350 residential units and approximately 10,000 sq. ft. of retail space on the ground floor in a high rise construction of 36 stories. InTown/Framework will purchase the land, currently part of the right-of-way between Tyler and Cass streets, for $4 million from the City of Tampa. Construction is anticipated to be complete by the end of 2014.
The team who will develop the project include intowngroup, Framework Group, LLC, Baker Barrios Architects, Moss and Associates, and the Beck Group.
The City of Tampa will make Cass and Tyler streets two-way, restoring the street grid in downtown and transforming Cass into a central spine throughout the city as outlined in the InVision Tampa Center City plan.
“The Straz Center is very excited about the new development,” said Judith Lisi, President and Chief Executive Officer of the Straz Center for the Performing Arts. “Our guest experience is very important, and all of the enhancements included in the project, in particular the improvements to the road network and to our arrival plaza, will ensure that they do.”
The Straz Center Board of Directors approved the project this afternoon, and the agreement will go before a special call meeting of the Tampa City Council on Thursday, January 17, 2013 after the Community Redevelopment Agency meets.
To view and download renderings of the design, please visit tampagov.net/PAO.
In July 2012, the City of Tampa released a Request for Proposals for development of the proposed site. The intent was to help create activity along the Tampa Riverwalk and in the adjacent parks and museums as well as to stimulate the redevelopment of the Downtown Tampa Community Redevelopment Area.