JV Purchases Former Trump Tower Site in Downtown Tampa
A JV of Feldman Equities and Tower Realty Partners has closed on the last remaining undeveloped parcel of waterfront land in downtown Tampa.
The JV paid $12M for the 1.47-acre site at the intersection of South Ashley Drive and Brorein Street and the adjacent CapTrust office building, the Tampa Bay Business Journal reports. The site was once slated to be a 52-story condo tower bearing the Donald Trump name and developed by Simdag/Robel, but those plans failed to materialize when the developer filed for bankruptcy in 2008.
The JV plans to develop Riverwalk Tower, a 31-story building that will include 203 luxury apartments and 215k SF of office space, two waterfront restaurants, a rooftop garden and a seven-story parking garage with high-speed elevators. The tower is scheduled to begin construction in late 2016 with completion slated for 2018.
Riverwalk Tower is the latest luxury apartment project to join the crowded South Florida construction pipeline. On Thursday, Bisnow will hold its 4th Annual South Florida Residential Development Forum, which will feature an all-star lineup focused on what’s new in the design and construction of high-end luxury development. [TBBJ]
