Core Spaces, RD Management to Develop 3,000 Beds in Tampa

Construction on the first phase will start this fall.

Core Spaces has partnered with RD Management to develop the student housing component of Rithm, an approximately 100-acre mixed-use project in Tampa, Fla. Construction on the first phase will begin this fall.

The project will comprise up to 3,000 student housing beds, 150 conventional units and 10,000 square feet of retail space.

The first phase is dubbed Hub II, as it is the second student housing community that Core Spaces will build within Rithm. Hub II will include more than 400 units and 1,300 beds, as wells as an 800-stall parking garage. Completion is scheduled in 2027.

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The community will consist of three four- and five-story buildings, with a unit mix ranging from studios to five-bedroom layouts, a Core Spaces representative told Multi-Housing News. Planned common-area amenities include a swimming pool, fitness center and study spaces.

Hub II will rise at 12202 Club Drive, within walking distances of the University of South Florida’s campus and 2 miles from the Yuengling Center arena and the USF Track & Field Stadium. Downtown Tampa is 9 miles away, while Tampa International Airport is 12 miles southwest.

The remaining two phases, Hub III and Hub IV, will include more than 700 and 800 beds, respectively, and will come online before 2030. In 2022, Core Spaces completed the first Hub-branded student housing community in Tampa, a 359-unit, 890-bed property.

Part of a mixed-use development

RD Management’s Rithm is a mixed-use development set to measure more than 7 million square feet upon full build-out. The project will be a hub for life sciences, technology, and innovation and include research facilities, retail and entertainment spaces, residential units, corporate offices and medical facilities.

The master plan also involves the redevelopment of University Mall, a 1.3 million-square-foot retail center that opened in the 1970s. RD Management acquired the last parcel of the site in 2018.

Additionally, Rithm will include a 250-key Marriott-branded hotel, to be constructed in two phases. Last year, the developer also completed the conversion of a 240,000-square-foot medical office building as part of the project.

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