Tampa’s Water Street will get new condo, office tower, hotel and more

Three new projects are coming to Tampa’s Water Street neighborhood including an office complex, a mixed-use entertainment destination and a condominium tower set to be will be the tallest building in the district.

The developer, Strategic Property Partners, announced the plans in a media release on Monday. The company did not give details about the square footage, number of condo units, pricing or the construction timeline for Water Street’s next phase.

The entertainment component will be located between S. Morgan St and S. Jefferson St, just north of Amalie Arena. It will include a hotel, a parking garage and a live performance venue or other attraction that could help bring in crowds said CEO of Strategic Property Partners, Josh Taube.

In a statement, he said the anchor would “build on the vibrant atmosphere at Amalie Arena by providing a complementary and unique experience.”

The offices and the condo will be located north of the 900 and 1000 blocks of E. Cumberland Ave.

The office building will be “build to suit” meaning it will be designed to accommodate around whichever companies sign on to lease the space. Taube said he hopes this will appeal to large corporations who are considering a move to the Tampa Bay area.

“Florida’s seen huge successes, not necessarily in our area,” he said. “I think we need to tell the world we’re open for business.”

The office building will have retail on the ground floor. The plans also call for new green space along Water Street that could be used for open-air markets, outdoor concerts, and other activities.

Parking will be a big component of the second phase.

“We wore pretty rose colored glasses on parking the first time around,” Brad Cooke, executive vice resident at Strategic Property Partners. “Tampa has structural issues related to transportation that are bigger than us so we know we need more parking.”

The road and utility infrastructure work for these additions to WST has already begun and is expected to be completed by the spring of 2025.

Cooke said the company does not have projected end date for construction but that in the past it’s taken around three years for buildings to get off the ground.