Tampa Mayor Bob Buckhorn announced yesterday that Intown/Framework Group, LLC will invest $85 million to build a 350-unit, high-rise residential complex in Downtown Tampa.
The parcel of land where the complex will be built sits on the right-of-way between Cass and Tyler streets. Once finished, the 36-story complex will neighbor the Downtown Tampa arts district, Curtis Hixon Waterfront Park, and the David A. Straz Jr. Center for Performing Arts.
Along with its 36 stories and 350 units, this new section of real estate in Downtown Tampa will house 10,000 square feet of retail space on the first floor for shops, restaurants, and other businesses to rent out.
Intown/Framework Group, LLC purchased the parcel of land on the right-of-way between Cass and Tyler streets from the City of Tampa for $4 million and plan to construct the complex for a price tag of $81 million. Construction is expected to be finished by the end of 2014, according to a written statement by the city.
The Tampa City Council plans to discuss the sale of the property as well as grant approval to the complex's developers this upcoming Thursday, January 17.
