Pendry Tampa Lands Record-Breaking $520 Million Construction Deal
Pendry Tampa, a luxury hotel and condominium tower planned by Two Roads Development, has just secured $520 million in construction financing. The deal, announced Monday, includes funding from Sculptor Real Estate and Nuveen Green Capital. Construction, led by Florida-based general contractor Coastal Construction, has been at the topic of discussion in the region for weeks. The project has recently overseen slowed on-site activity; now, with financing achieved, the project is back on-track. While the financing is historic for its size, another aspect of the deal is equally noteworthy. Of the $520 million granted, $290 million came from the largest C-PACE transaction in the nation’s history. C-PACE transactions provide developers with long-term financing for energy-efficient and resiliency-focused building improvements, such as water and energy conservation measures, storm infrastructure, and more. In the case of Pendry Tampa, this financing likely supports the tower’s mechanical systems, sustainable energy features, and resiliency upgrades, helping Two Roads Development finance construction costs. According to Hotel Investment Today, Nuveen Green Capital highlighted the significance of the deal, with Ryan Doyle, senior director of originations, saying, “We are thrilled to have closed the largest C-PACE transaction in history, partnering with Two Roads Development and Sculptor Capital on this transformative luxury property that will redefine Tampa’s skyline. This historic milestone showcases the growing sophistication and scale of C-PACE financing and its capacity to support major developments.” The news is both exciting and reassuring for many local real estate enthusiasts, especially given the lot’s history. Over the years, multiple projects on the site have fallen through, including the cancelled Trump Tower Tampa. Pendry Tampa broke ground and began foundation work in late 2023, but construction only reached a few floors above ground before slowing. With financing now in place, the project is set to return to its regular pace. According to Floridian Development’s database, the historic project will rise 38 stories, reaching 444 FT, making it one of Tampa’s tallest developments. Plans call for 200 condominium units, 220 hotel rooms, 656 parking spaces, extensive commercial space, and amenities.
Developers Submit High-Rise Plans for ‘The Gaspar’ in Downtown Tampa
One of Downtown Tampa’s most distinctive residential developments is on the way: The Gaspar. Led by developer Berts Real Estate in partnership with consultant Flamingo Homes, the 23-story tower is planned for one of the city’s most size-constrained lots. Located at 1307 N. Jefferson Street, the 0.33-acre site will feature 188 residential units, along with commercial space, office space, and one of the most innovative parking systems on Florida’s West Coast. The project, scheduled for administrative review by Tampa’s Design District Review, may signal the start of a broader trend toward compact developments as developers seek new land opportunities in the city, a shift already visible in South Florida. According to plans released yesterday, the 188-unit building will offer a mix of studio, one-, two-, three-, and four-bedroom residences. Studios and one-bedrooms will make up the majority of units, followed by two-bedrooms. Studio layouts will range from approximately 400 to 600 SF, while the largest residence will be a 4,885 SF penthouse. Despite the limited footprint of the site, residents will have access to a full suite of amenities, including a pool, gym, lounge, and amenity deck. One of the most notable features of the development is its podium, which will include the residential lobby, 2,424 SF of commercial space, 5,327 SF of office space, and a structured mechanical parking system. The system will provide 88 automated parking stall spaces, three accessible spaces, and 72 bicycle parking spaces, equivalent to 18 additional parking spots under Tampa code, bringing the total parking supply to 109. By utilizing automation, the podium design is more efficient and compact, while also reducing risks typically associated with conventional garages, such as ‘tight ramps, dark stairwells, and vehicle theft or damage’ Designed by MGBA Architecture, the tower will rise 23 floors to a height of 281 FT, presenting a tall, slender structure in gray and white. Its facade incorporates fiber cement panels, frosted glass, perforated screening, and other modern design elements. According to the architect, ‘The tower’s massing is artfully broken into distinct volumes unified by a sculptural black steel feature that performs multiple roles: it offers solar shading, structural expression, and vertical coherence. This multipurpose architectural gesture ties together disparate programmatic elements and introduces a kinetic, tactile identity to the building.’ Due to the lot’s constraints, the development team is requesting several variances. One relates to parking: while zoning regulations require 114 spaces, the project is proposing the equivalent of 109. Because the City of Tampa’s code encourages reduced parking ratios and development near transit, the team is confident this variance aligns with the city’s goals. Among other requested variances is a concern for street wall transparency. Although traditional regulations require parking to be concealed, the design instead showcases the mechanical parking behind glass curtain walls at the podium level, creating an intentional visual for pedestrians. According to Anchor Real Estate, the project’s head of sales, prices start at $399,000. While the current sales status is unclear, reservations were reported to be strong when they opened on September 12th of last year.
McKibbon Hospitality to Bring Dual-Branded AC Hotel and Moxy to 111 N Meridian Ave, Channelside
A new hotel is set to rise in Tampa’s Channelside district, becoming the largest by both height and room count. Developed by McKibbon Hospitality, a veteran hotel operator and developer, the project will introduce a dual-branded AC Hotel and Moxy by Marriott. The site at 111 N. Meridian Avenue was once planned for a storage facility by UDR, but McKibbon acquired the property for $9 million earlier this year and shifted the plan toward hospitality. With plans coming to fruition, the development will be the second dual-branded hotel in Channelside. Approved by City Council, the development will include 175 hotel rooms under the AC Hotel flag and 135 rooms under Moxy by Marriott. Plans also feature ground-floor retail, a large lobby, and guest amenities such as a pool, bar, and meeting and event space. According to a planning document provided last month, the current proposal provides 57 parking spaces, though that number could change as the design advances. The building, which will rise 13 floors or 170 FT, was lauded as a great addition architecturally for the area. Councilman Charlie Miranda called it “a nice addition and a beautiful design” in which it “fits the area”. Renderings and elevations provided by the architect show a unique roofline, blue and white accents, and a masked podium intended to improve the streetscape along Meridian Avenue. According to the Tampa Bay Business Journal, the project is still in the design phase, with permitting and financing to follow. McKibbon is aiming for a February 1, 2026 groundbreaking. “We have really great hospitality lender relationships, and we have a few earmarked for this deal that have already expressed interest,” said J.B. McKibbon, president of McKibbon Equities. Speaking before City Council, he added, “We have been trying very hard to build a new product in downtown for quite some time.” The rezoning received unanimous approval from City Council, with a second hearing scheduled for September 18. Because UDR demolished the site prior to this proposal, McKibbon has to do little site preparation before moving forward with foundation work and vertical construction.
FAA Filings Advance The Bluffs in Clearwater Toward 2026 Groundbreaking
The Bluffs in Downtown Clearwater is taking another step forward towards construction. Developers Gotham Organization and the DeNunzio Group recently submitted FAA filings for crane use and building height evaluation, key early steps toward their targeted January 2026 groundbreaking. The move follows land acquisition and City Council approvals earlier this year, and will be an early measure of whether the developers can deliver on their promise to complete the apartments on schedule. The project is aiming to erect one 400 FT crane for the project. According to the general contractor, Moss Construction, the crane will initially stand at 250 FT before climbing to its full height as the project nears topping out. FAA evaluation of the crane filing is still underway. For a brief period, from June 1, 2026, to December 23, 2027, it will be the tallest structure in Clearwater. Also filed was a building height evaluation. As per the filing, the structure will rise to 302 FT to its tallest point, or about 337 FT when factoring in the site’s 35-foot elevation. The filing notes that the height comes from a two-floor podium topped by a 28-story residential tower. Touted as the largest investment in Downtown Clearwater to date, the project will span 620,000 SF and include 400 rental units, more than 10,000 SF of retail space, and 440 parking spaces, about half of which will be underground. The Bluffs in Clearwater did not reach this point without challenges. Last year, the developers scaled the project back from two towers to one and revised several agreements. In fall 2022, voters approved plans for roughly 600 apartments, but the developers later cited rising interest rates and other external factors as reasons to reduce the scope to 400 units in a single tower. Additionally, the original $15.4 million sale price for the lot was reduced to $3.45 million following negotiations. While the City of Clearwater lost out on certain benefits from the deal, the developer’s steadfast commitment to moving forward on the project, indicated by these recent FAA filings, will hopefully push this investment further to reality. According to TBN Weekly, former council member Mark Bunker was optimistic for the project despite setbacks: “I’m excited that we’re actually getting this done,” “I think it’s an important next step to taking back the downtown”.
Integral Development Secures $9.7M for 100% Affordable Ashley East Tampa Project
The East Tampa Live-Learn development, a transformative project combining job training with 100% affordable housing, has just cleared a major milestone. On July 24th, Tampa’s Community Redevelopment Agency Board approved $10 million in funding to support the development of the housing component: bringing the long-envisioned community center one step closer to breaking ground. Developed by Atlanta-based Integral Development, the project, coined Ashley East Tampa, will feature 118 affordable units atop city-owned land at 3105 E. Columbus Drive. All units will be restricted for incomes earning at or below 80% of the Area Median Income. More specifically, there will be 23 units placed for those at 30% AMI, 15 at 50% AMI, 43 at 60% AMI, and 37 at 80% AMI. With a mix of studio, one-bedroom, and two-bedroom floor plans, the development is designed to feature both individuals and families: ensuring every unit meets the definition of true affordability. The ground floor of Ashley East Tampa will include over 200 parking spaces, serving both residents and visitors to the nearby future job training facility. Along East Columbus Drive, a landscaped linear park will also buffer the building from the street. While the development itself includes no retail or commercial space, a separate commercial facility, developed by the Tampa Bay Economic Development Council, will rise to the west. This neighboring space will house areas for local businesses, provide vocational training opportunities, and serve as a hub for workforce development. The $9.7 million in CRA funding approved for Ashley East Tampa will support soft costs, site acquisition/parking infrastructure costs, and construction costs. This funding represents approximately 22% of the project’s total development cost. While the project was largely well received by board members, a few concerns were raised around the parking supply and the distribution of affordable units. For instance, Lynn Hurtak, an advocate for reduced parking minimums in Tampa, questioned the need for the parking count. In response, development representatives noted that the parking amount was carefully designed to meet resident demand without creating overflow onto nearby streets. In a city like Tampa, where driving is often the only practical mode of transportation due to the lack of mass transit options, parking remains a controversial issue. Though higher parking requirements drive up the cost of construction, developers are often left with no choice. While Ashley East Tampa secured CRA funding, the project still awaits rezoning approval from Tampa’s planning department. As per a timeline shared during the meeting, construction is expected to begin in May 2026. Kareem Brantley, representing the Integral Group, noted the importance of moving forward with the project: ‘Time is of the essence’, ‘if you don’t move projects forward, the only thing that’s going to happen is the cost is going to go up’.
Water Street Proposes a Mixed-Use Garage as the District Looks for More Parking
Water Street’s latest addition in its second phase has just been revealed, signaling a major departure from earlier plans. Announced last Friday, the newly unveiled project is a mixed-use parking garage that will take the place of a previously proposed office tower. Originally, the site was intended to host a Class A office building with thousands of square feet of build-to-suit workspaces. Instead, it will now feature a garage offering 675 parking spaces, retail space, and a rooftop area. In a design review board application submitted amidst the press release, the project plans for “the construction of a 10-story mixed parking garage with +/- 19,000 SF of retail and +/- 5,000 SF of restaurant on the first floor and roof deck with +/- 8,500 SF of restaurant totaling +/- 317,885 gross square feet of developed area.” The team behind Water Street Tampa has further clarified these numbers, indicating the building will have 38,000 SF of retail in total and stand 124 FT tall. Alongside the announcement were plans for a one-acre park designed to serve as a hub for concerts, community events, and retail markets. Although the exact location hasn’t been confirmed, it’s likely to be located at Water Street’s 400 Channelside lot, as earlier statements had suggested the area would feature an entertainment venue and community gathering space. Other possible locations include parcels north of E Cumberland Avenue. Although the announcement may come as a surprise, discussions about addressing parking demand have been ongoing for several months. The Tampa Bay Business Journal previously reported that Brad Cooke, executive vice president of development, admitted that SPP “rose-colored glasses on parking” during phase one’s development. Initial hopes for the district imagined a future centered around walkability, with a range of accessible transit options reducing the need for cars and making parking garages like the Cumberland garage unnecessary. However, with transit funding in Tampa now depleted, that vision has dimmed, and the team behind SPP has shifted to a more pragmatic approach. Both the parking garage at 302 S Nebraska Ave and the community park have an anticipated completion in 2027. The design review board submission filed with the City of Tampa on Friday marks the first step toward making that vision a reality.
4th Avenue Apartments Moves Forward, Set to Replace the Historic Tamborello Bros. Service Station in Ybor City, Tampa
After nearly three years of working through Tampa’s Barrio Latino Commission, the development team behind ‘4th Avenue Apartments’ is advancing with a revised proposal for their five-story residential project in Ybor City, with eventual construction in the near future. The development, spearheaded by James Hettinger, LLC and Clendenon Properties, LLC, features an updated design by GROH Architecture with significant adjustments to the building’s height and layout. While original plans approved in March 2024 included a 56-FT facade along 4th Avenue, the revised version lowers that to only 44 FT. This visual setback introduces a private balcony for residences but also creates a visual improvement of the facade along 4th Avenue. Because the setback removed a large portion of interior space, the building will be pushed further back on the site to preserve the original unit count of 93 apartments, maintain the total parking count, and retain the corner bodega. This shift allows for larger floor plates and the integration of a mechanical lift parking system. The update eliminates the need for off-site parking leases originally planned for in the old proposal, as 97 spaces will now be accommodated on-site. Additionally, the corner bodega will be slightly expanded from 803 to 883 SF. While the overall unit count remains steady, the updated design adjusts the apartment mix slightly, increasing the number of studio and two-bedroom units while reducing one-bedroom units. The project also retains its commitment to high-quality materials, featuring red brick facades, metal railings, mosaic flooring, and Cuban tiles at the bodega entrance, elements encouraged in Ybor City. Poised to occupy nearly half of the block between E 4th Avenue and N 17th Street, the new development will involve the demolition of the former Tamborello Bros. service station: a significant part of Ybor’s history that operated from 1946 to 2016. Although the building’s official name has yet to be finalized, renderings feature the word “Tamborello” displayed at the top, suggesting both a tribute to the site’s past and a possible name for the future residence. The development has already been in a public hearing, with another taking place on July 31st at 10:30 AM. No construction permits, including foundation work or demolition, have been filed for the property at 1715 E 4th Ave.
Floridian Development Introduces ‘Floridian Advanced’, a Free Service Providing Comprehensive Development Info Across Florida
Floridian Development is proud to introduce Floridian Advanced, a free, easy-to-use tool designed to help anyone stay informed about the major developments shaping Florida’s future. From towers rising in downtown Miami to mixed-use communities planned in Tampa or Fort Lauderdale, Floridian Advanced brings all the details together in one centralized platform, no paywalls, no sign-ups, no stress. Florida’s real estate landscape is constantly evolving, with hundreds of new developments proposed, approved, or breaking ground every year. For many, keeping track of these projects means sifting through complicated planning documents or relying on hidden, outdated reports. Floridian Advanced changes that. It offers a clear, well-organized view of the latest projects with data pulled directly from official sources and presented in a clean, simple format. But this isn’t just a site about unit counts. Each listing on Floridian Advanced is thoroughly researched to provide enhanced context, including details like total square footage, floor count, proposed height, number of parking spaces, retail/commercial components, and more. Most entries also include site plans, elevations, or architectural renderings when available, offering visual insight without needing to go through city PDFs or planning agendas. Getting started is simple. Just click the Floridian Advanced tab in the header. You’ll be greeted by a home screen that explains how the system works and how to navigate it. From there, select the city you’re most interested in, and explore away. Each project is categorized by status or type, from multifamily to office or planning to construction so you can filter based on what matters most to you. Who’s this for? Floridian Advanced was built for anyone with a stake or interest in Florida’s growth. Whether you’re a broker trying to understand the local pipeline, a journalist seeking accurate project data, or a resident curious about what’s being built down the block: this platform is for you. This release marks an exciting step forward in Floridian Development’s ongoing mission: to make Florida’s evolving real estate environment more understandable, transparent, and accessible to those who care about it most. Today’s update is just a start to an exciting evolution for the website. Stay tuned for updates including a development map, added cities, and cosmetic/technical updates designed to make your life easier.
Alexander Goshen Proposes Five-Story Apartment at 5802 N Florida Ave in Seminole Heights, Tampa
Fort Lauderdale–based Alexander Goshen is the latest developer to zero in on Seminole Heights. The firm recently filed a rezoning request for 5802 N. Florida Ave that would clear the way for a five-story building at the corner of Florida and Henry Avenue. The move adds momentum to a neighborhood already reshaped by new capital and infrastructure upgrades, from updated streetscapes to the introduction of mid-rises such as Notch, Hite and Avenue Lofts. Details of the project remain preliminary, but early plans envision a promising development that would bring 67 homes, retail, and further pedestrian activation to one of Florida’s fastest-changing areas. At street level, the proposed development aims to further expand upon Florida Avenue’s commercial scene with 5,269 SF of ground-floor retail space. Behind the storefronts, plans call for 56 parking spaces to serve both residents and retail patrons alike, a figure that falls short of the 73 spaces typically required under city code. The building will also include 35 bicycle parking spots, although only 5 are required. Designed by Goode Van Slyke Architecture based in Atlanta, elevations showcase the 5-story apartment measuring 57 FT. The building’s facade is expected to include a blend of materials, including white stucco finishes, aluminum balcony railings, and vertical plank accents for added texture. Preliminary renderings also suggest a rooftop deck may be included at the corner of Henry and Florida, though detailed floor plans haven’t been released yet. Before Alexander Goshen entered the picture, the site had a proposal for a series of three-story townhomes by Middle Bay Homes. It’s unclear why those plans never moved forward, but all associated commercial construction permits were eventually withdrawn, leaving the property vacant and well-positioned for new development. With minimal site preparation required, aside from limited clearing of existing greenery, the property offers a relatively quick work schedule in the case that construction begins. Still, the proposed project must first receive site plan approval from Tampa planners before any work can officially begin.
Darryl Shaw’s Ybor Harbor Will Soon Call Home to a New Stadium for the Tampa Bay Sun FC
Set between Ybor City and the Port of Tampa, the Ybor Harbor development will soon call home to one of the only soccer stadiums in the U.S. built for a women’s professional soccer team. The 15,000-seat stadium, designed by The Beck Group and spearheaded by Darryl Shaw, is trying to ride the momentum wave of the Tampa Bay Sun’s impressive season, as the team just won the USL Super League’s championship. Women’s soccer in particular is gaining traction across the United States, and the USL along with Darryl Shaw want to be part of the movement. “By collaborating with Darryl Shaw and Tampa Bay Sun FC, we’re accelerating the growth of women’s soccer while creating lasting benefits for Tampa Bay” according to Alec Papadakis, USL Chief Executive Officer. “The growth of women’s soccer” is evident: just a few months ago, the CPKC Stadium in Kansas City became the first soccer stadium “purpose-built for a women’s professional sports team”. The USL, which is already based in Tampa, will soon gain a new state-of-the-art headquarters integrated into the stadium complex. Renderings reveal an office building with direct views overlooking both Ybor Harbor and the stadium itself. Plans also feature a boutique hotel positioned along the waterfront as part of the overall development. Although the stadium’s main purpose is to host women’s soccer, Darryl Shaw has emphasized that it will also serve as a venue for other sporting events, concerts, festivals, and community gatherings. Aside from Amalie Arena, inner-city Tampa lacks a flexible space of this kind, and the new stadium is expected to create a more active community. Ybor Harbor is planned to include over 100,000 SF of open space, and this development emphasizes that priority. Renderings/plans outline large sidewalks, potential retail venues, and greenery that compliment the stadium. Once completed, Ybor Harbor will include 800 hotel rooms, 150,000 SF of street-level retail space, 500,000 SF of office space, and 4,750 residential units with 10% put forth for affordable housing. Ybor Harbor is an ongoing initiative, and while a construction timeline has not been released, it will take some time before the first groundbreaking. What about the Tampa Bay Rays? Although a potential stadium for the team was envisioned in late 2022, documents for Ybor Harbor submitted to City Council in 2023 made no mention of a baseball venue. In fact, incorporating one would require slashing several planned high-rises due to the already tight footprint of the Ybor Harbor site. This update comes as Darryl Shaw recently stated that finding enough land within inner Ybor for a baseball stadium is no longer feasible. Meanwhile, foundation work for multifamily developments, historic restoration, and other construction efforts have been long ongoing in the region. Cost and a construction timeline have not been released, but according to the Tampa Bay Times, the goal may be to develop the Tampa Bay Sun’s stadium through a “public-private” partnership common with recent stadium construction.