Stock Development Files Plans for Tampa’s Tallest Skyscraper at 601 N Ashley Drive
An ambitious proposal that would redefine Tampa’s skyline was unveiled today, as Florida-based Stock Development revealed plans for what would become the city’s tallest skyscraper. Rising 631 feet above downtown, the 48-story tower would eclipse Tampa’s current tallest building by a wide margin while transforming a site that has long been viewed as one of the city’s most significant redevelopment opportunities. The proposal comes just months after the demolition of the historic GTE Financial Building, a landmark completed in 1925 that occupied the property for a century. Located at 601 N Ashley Drive, the approximately one-acre site has undergone years of planning before reaching this stage. TLR Group assembled the property in 2021 and spent several years advancing its own vision for a high-rise development before Stock Development acquired the site in 2025 for $40 million, marking one of the largest property transactions in Tampa’s history. With demolition now complete, the developer has unveiled a project that would introduce more than 1 million square feet of residential and hospitality space to the downtown core. Plans submitted to Tampa’s Design District Review Board call for a mixed-use tower containing 220 condominium residences and 240 hotel rooms, alongside a variety of ground-floor hospitality uses. While the hotel operator has yet to be announced, the plans point toward a luxury brand, with accommodations ranging from king rooms and double-queen rooms to several suite configurations. The residential component would include two-bedroom, three-bedroom, four-bedroom, and penthouse residences, although both the hotel and condominium layouts are expected to evolve as the project advances through the approval process. The tower has been designed to function as two distinct uses within a single structure. Hotel guests would have access to a resort-style pool deck, spa, meeting rooms, ballrooms, restaurants, outdoor terraces, and a grand lobby, while residents would enjoy a separate array of amenities, including their own pool deck, a dog park, golf simulator, and additional recreational spaces. Rather than activating the ground floor with retail, Stock Development has instead prioritized expansive lobby spaces, amenity areas, and dedicated drop-off zones for both residents and hotel guests. Even without storefronts, the project proposes several improvements to the public realm. Plans include significantly wider sidewalks surrounding the property, along with a modernized bus stop on North Tampa Street. Beneath the tower, a 400-space parking podium would accommodate residents and hotel guests, exceeding the amount of parking currently required under city regulations. Architectural elevations prepared by Ziegler Cooper Architecture depict a modern 48-story tower organized into three distinct sections. Parking would occupy the lower levels, hotel rooms would fill the middle floors, and luxury residences would crown the upper portion of the building. At 631 feet tall, the structure would become Tampa’s tallest building by a considerable margin. The architectural elevations showcase floor-to-ceiling glass wrapping nearly the entire tower. The parking podium would be screened behind spandrel glass to minimize its visual presence, while stone accents and other contemporary materials would add depth and contrast to the facade. Although the proposal remains in the early stages of the city’s review process, several important milestones have already been reached. Earlier this year, the developer secured FAA approval for a structure reaching 635 feet, with the FAA determining that it would pose no hazard to navigable airspace. A separate application for a 687-foot tower crane remains under review, and construction timelines included in that filing indicate crane operations between July 1, 2030, and January 1, 2031, meaning groundbreaking may not occur until sometime in 2029. For now, activity on the site remains limited to demolition. Aside from the permit issued to remove the former GTE Financial Building, no vertical construction permits have yet been filed with the city, meaning the project must still navigate Tampa’s review process before work can begin.
Plans Submitted for 154-Unit Gwen Cherry Residences Redevelopment in Miami-Dade
Miami-Dade County’s effort to modernize its aging public housing portfolio is continuing, with new plans submitted for the redevelopment of Gwen Cherry 7. The project, known as Gwen Cherry Residences, is being developed by Redwood Development Co. and Magasi in partnership with Miami-Dade County. Redwood has become an increasingly active participant in the metro area’s affordable housing development, with other major projects including the large-scale redevelopment of Claude Pepper in North Miami. Located at 170 NE 67th Street, Gwen Cherry 7 occupies a 1.6-acre site currently developed with several two-story apartment buildings constructed in 1970, totaling 24 public housing units. The property is one of several Miami-Dade housing communities named in honor of Gwen Cherry, the Miami-born educator, civil rights advocate, and the first African American woman elected to the Florida Legislature. The redevelopment effort dates back to 2023, when Miami-Dade County issued a solicitation seeking development partners for several aging public housing communities. Gwen Cherry 7 was paired with the nearby Lemon City property as a single redevelopment opportunity. Magasi Redwood Urban LC, LLC (a partnership between Redwood Development Co. and Magasi) submitted the sole proposal for the package. Following negotiations, the Miami-Dade County Commission authorized a 99-year Lease and Development Agreement, subject to approval by the U.S. Department of Housing and Urban Development (HUD), allowing the team to move forward with the redevelopment of both sites. Although the broader agreement includes both Gwen Cherry 7 and Lemon City, the latest filing pertains only to Gwen Cherry 7, marking the first detailed development plans submitted under the redevelopment agreement. Plans for Lemon City have not yet been filed and are expected to move through a separate review process at a later date. What’s Planned? According to plans submitted to Miami-Dade County earlier this month, Gwen Cherry Residences will deliver 154 homes, representing nearly a sevenfold increase over the site’s existing housing stock. The development will consist of two buildings connected by a shared two-story podium. The larger of the two buildings will rise 11 stories and contain 54 affordable family-oriented residences, with unit layouts ranging from one-bedroom to five-bedroom apartments. The second building will rise 10 stories and provide 100 units, consisting primarily of studio and one-bedroom apartments. The shared podium will incorporate approximately 7,700 square feet of ground-floor retail space, while a podium amenity deck will provide recreational and open space for residents. Parking will be accommodated through 214 garage spaces and an additional 19 surface spaces, providing capacity well above what is typically required for a development of this size. While final architectural elevations have not yet been released publicly, both buildings are expected to exceed 100 feet in height, making them among the taller structures in the surrounding neighborhood. Preliminary renderings depict a contemporary design featuring brown, gray, and white exterior finishes, expansive glazing, generous landscaping, and a mix of facade textures intended to add depth and visual variation. The filing represents another step in Miami-Dade County’s broader initiative to replace aging public housing communities with higher-density mixed-income developments through long-term public-private partnerships. As Gwen Cherry Residences advances through the approval process, its companion redevelopment at Lemon City is expected to follow with its own development application in the future.