Water Street Phase One Development

As phase one of Jeff Vinik’s vision for the Water Street Development reaches its completion point, we look back at what has been accomplished since the ground broke for the project. In 2014, Jeff Vinik had a 40-acre vision at a cost of over $1 billion, now that development is more than 70 acres, and with more than 9 million SF of space being under development with an overall cost of $3.5 billion.

Strategic Property Partners (SPP) which is a partnership between Jeff Vinik and Cascade Investments (Controlled by Bill Gates) oversaw the development of Water Street Tampa. 4 residences were developed during phase one. These are The Residences at The Tampa EDITION, Heron, Asher, and Cora. Heron includes 420 leasing apartments which range from 1 bedroom to penthouse suites. Asher provides Tampa residents with 393 operating apartments ranging from studio to 2 bedrooms. The remaining 97 units are used as extended-stay rooms for ROOST Tampa. The Residences at The Tampa EDITION are exclusive condos that tower over Tampa’s first 5-star hotel The Tampa EDITION with 37 total units available. Altogether nearly 800 rooms have been added to Tampa’s hotel options thanks to ROOST Tampa, JW Marriot Tampa Water Street, and The Tampa EDITION. Water Street has also added plenty of new office space in Sparkman Wharf (180,000 SF +), Thousand & One tower (375,000+) , and 400 Channel Side (500,000 SF+).

Exact plans for phase 2 have still not been released to the public but with the demolition of the old Ardent Mills flour plant being underway, it can be expected that plans will start coming public soon. The water street project is still hoped to be fully completed by 2027.

Information Source:

Water Street Site

Water Street Tampa’s Phase 1 is almost done. Here’s what Phase 2 holds

For more information regarding the Tampa Office Market or for analysis and valuation services contact

Mike Cliggitt, MAI, MRICS, CCIM

813-405-1705 - Direct Line

findvalue@cliggitt.com

Office Appraiser Tampa Florida