Imagine, some major infill updates for downtown–and Jeff Vinik isn’t involved. It’s a reminder that some other folks with business acumen, a vision and financial wherewithal want in–or want a bigger stake.
First–because it’s as symbolic as it is synergistic–are the announced plans for a 52-story, $200-million, downtown building along the Hillsborough River on the erstwhile Trump Tower Tampa site. “Riverwalk Towers” will be a mix of office space and upscale condos.
Feldman Equities and Tower Realty Partners just paid $12.1 million to Brownstone Tampa Partners for the 1.5-acre site and don’t plan to sit on it. Market dynamics dictate no less. They plan to break ground on the luxury office-and-condo project in 2016.
“It’s our goal to provide an iconic building that’s going to change the skyline of Tampa,” exclaimed developer Larry Feldman.” Mayor Bob Buckhorn couldn’t have said it better.
“We intend to build the best building ever built in the Tampa market,” added Feldman. Donald Trump couldn’t have said it any better.
Speaking of, it’s hard to estimate the worth of a high-profile piece of riverfront real estate no longer enclosed with chain-link fencing and no longer used as a construction staging area. Its impact ripples will be area-wide. Moreover, for a lot of folks, it’s impossible to calculate the value of not having the Trump brand on permanent, prominent downtown display.
Timing, indeed, is everything, whether real estate cycles or political candidacies.
The second major announcement is that finally–after all those rumors and false starts–Publix is coming to downtown.
No sooner had Mercury Advisors of Tampa applied for a building permit, than it was posted on the city’s web site. It’s that welcomed as the critical amenity to support the rapidly ratcheting, downtown residential population.
Plans call for a two-story, 37,600-square-foot store at the corner of E Twiggs Street and N Meridian Avenue in the Channel District. With rooftop parking. Mercury’s grocery plans call for the store to be paired with a 21-story apartment tower and parking garage in a project known as the Channel Club.
Mercury, headed by veteran Channel District developers Ken Stoltenberg and Frank H. Bombeeck, expects to begin construction in the first quarter of the coming year.
“It’s the last missing piece of a downtown that is about ready to explode,” rhapsodized Mayor Bob, who couldn’t have said it better.
It’s actually such an important piece that it has been a priority target of Vinik for the “live, work, play and stay” downtown community he’s developing on those 40 acres around Amalie Arena.
So, do Mercury’s announced plans subtract one major recruit from the Vinik bucket list? Would seem so. Ali Glisson, communications director for Vinik’s Strategic Property Partners LLC, was in non-committal mode and didn’t want to distract from the big-picture, good vibe.
“We’re just excited that Publix will have a presence,” said Glisson, who previously held a similar communications position at City Hall. “This is a community amenity. It’s a good day for downtown.”
To be sure.
The point is that a grocery of Publix’s stature will be in the hood–on the east side of the river not far from downtown. Two years ago Publix backed off interest in Encore Tampa. Today they want in at Twiggs and Meridian.
Timing, indeed, is everything.