On November 8, the development project commenced construction on a pair of apartment towers, rising 21 and 26 stories respectively. The apartments won’t only be for wealthy people – some smaller, more affordable apartments will be included in the mix of units, which will hopefully attract younger, up-and-coming buyers into the project.
Developer Strategic Property Partners’ CEO – James Nozar – plans to take up residence there himself. He says: “What we’re really trying to target is not only some more exclusive homes for move-downs, move-ups, for professionals living downtown, but also homes that are more affordable to those that are priced out of being in downtown. Of course, we’re going to fill in the middle as well, but we think that there’s opportunity on both ends of that, that we’re really trying to hit."
What they will all have in common is a sought-after address – 815 Water Street – right in the middle of the huge Water Street development.
The two towers are due to open in late 2020 and will include 420 apartments and 35,000 square feet of ground-floor retail. They are being designed by global architecture firm Kohn Pedersen Fox Associates.
Mayor Bob Buckhorn said of Water Street Tampa: "This is going to change the landscape. Not just in a physical sense, but in an emotional sense. It’s going to square off our downtown, activate our waterfront and connect downtown to Ybor City. It is, I think, the most important private development project that has occurred in our city in decades."
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