Key financing has now been secured for infrastructure upgrades tied to Ybor Harbor, a massive mixed-use development planned to replace an aging shipyard in Tampa’s Channelside district. On May 14, the Tampa City Council unanimously approved $35 million in funding for the improvements, marking another major milestone for the long-anticipated waterfront project led by local developer Darryl Shaw.
The project represents Shaw’s next large-scale redevelopment effort in the urban core. Just north of the site, Shaw is already leading construction on Gasworx, a similarly ambitious mixed-use development transforming former industrial land into a dense, walkable district.
The approved funding will cover only a portion of the infrastructure work ultimately required at Ybor Harbor. Total infrastructure costs are currently expected to exceed $200 million. Shaw’s team initially requested $50 million from the CRA, though staff later recommended reducing that figure to $35 million, which ultimately became the amount approved by City Council.
Funding will be distributed incrementally, with $7 million allocated annually between 2029 and 2033. The financing will come through the CRA, which is intended to address blight and support redevelopment within the surrounding district. Planned improvements include upgrades to sewer and water infrastructure, sidewalks, seawalls, and other public facilities needed to support the project’s large-scale buildout.
According to Tampa Monitor, the infrastructure package also includes approximately 1,100 linear feet of new public waterfront access and roughly 2,500 feet of overall outdoor public space integrated throughout the site plan.
Momentum around the project accelerated last summer after plans were unveiled for a new 15,000-seat soccer stadium anchored by Tampa Bay Sun FC, the metro’s professional women’s soccer team. In addition to hosting matches, the stadium is expected to function as an entertainment venue capable of accommodating concerts, festivals, sporting events, and other large gatherings.
At full buildout, Ybor Harbor is planned to include approximately 800 hotel rooms, 150,000 square feet of street-level retail space, 500,000 square feet of office space, and 4,750 residential units. Plans also call for 10% of rental units to carry rent restrictions.
According to Avi Friedman Shaw, vice president of development at Darryl Shaw’s firm, the current annual tax revenue generated by the 32-acre site totals roughly $400,000 today, though projections estimate that figure could eventually exceed $47 million annually once the development is fully built out.
While finalized plans for individual blocks have not yet been submitted to the city, the broader master development is continuing to advance toward construction. Groundbreaking is currently targeted for next year.