LD&D Purchases Tampa Site for $200M Mixed-Use Project
In addition to 369 multifamily units, the development will include retail space and a hotel.
Tampa project rendering. Image courtesy of LD&D
LD&D has acquired a 2-acre site in Tampa, Fla., which will be the site of a new $200 million mixed-use development. Situated at 1101 East Harrison St., the land was purchased for $10 million from the Tampa Housing Authority.
A 28-story luxury multifamily community is set to be included in the project, alongside 45,000 square feet of amenity space, 32,500 square feet of ground-floor retail space, a 178-room hotel and a 586-car parking podium.
Located in Tampa’s central business district, the development will feature 369 apartments. Residents will be located in the ENCORE! redevelopment district featuring dining, entertainment and shopping options.
Amenities in the tower will include a wellness area, pickle ball court, sky lounge and 10,000 square feet of co-working space. Upon its completion, it will be the tallest building in the area, with 360 degree views.
Pedestrian walkway rendering. Image courtesy of LD&D
LD&D’s future multifamily site is in an Opportunity Zone in Tampa’s downtown. Nearby neighborhoods and employment hubs Ybor City, Tampa Heights and the Channel District are located nearby.
Designed by Baker Barrios Architects, the project includes the construction of a pedestrian alleyway, with restaurant and retail space, between the residential and hotel buildings. Groundbreaking is expected to take place in the last quarter of 2023.
The firm secured an acquisition loan of $7.13 million for the land, provided by Maxim Capital Group. The deal was facilitated by Luis Flores and Saul Ewing on behalf of the buyer.
Downtown Tampa is booming
The historic area of Ybor City and Downtown Tampa is continuing to rise in popularity. Recently, GMF Capital sold a Ybor City 240-unit Class A property for $90.7 million. The project, sold to a private investor, had multiple bids from multiple lenders.
Another large multifamily project has also broken ground in the area recently. Located west of the new development is the Ybor Gas Worx, a 50-acre mixed-use development set to include 5,000 residences, 140,000 square feet of retail space and 500,00 square feet of office space.
