HRI To Build New $120 Million Mixed-Use Tower In Downtown Tampa

by • October 3, 2016 • NewsComments (0)1679

Rendering of the new Tampa Tower via tampabay.com.

Rendering of the new Tampa Tower via tampabay.com.

New Orleans-based HRI Properties won an auction last week to purchase an entire block in downtown Tampa from the City of Tampa, according to TampaBay.com.

The one acre city-owned block has sat vacant for 20 years and sits next to City Hall at the corner of E Kennedy Boulevard and N Florida Avenue.  According to the article, this is HRI’s first foray in to Florida.

HRI offered to pay $7.5 million for the site and give the city use of 127 parking spaces.  HRI’s plans include the construction of a 21-story tower with a 223-room Hyatt Centric Hotel, 225 apartments, 7,000 square feet of retail and a 408-car garage.

Tampa put out a request for proposals in July, and HRI responded with its proposal for a $120 million tower that will rise 258 feet in the air.  Construction will create 527 jobs and a permanent staff of 174.

Renters and hotel guests will both have access to the rooftop pool, be able to order room service or dry cleaning, and charge food and beverages to their rooms.  Apartment will go for $1,900 a month for one bedrooms, $2,900 a month for two bedrooms and $3,700 a month for penthouse apartments.

The development team includes Baker Barrios Architects, general contractor DPR Construction, Capital One and Tampa real estate broker Jeannette Jason of Cushman & Wakefield.

You can read the full article from TampaBay.com here.

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