Group unveils first residences in $3B development

TAMPA — Strategic Property Partners LLC, the joint venture between Tampa Bay Lightning owner Jeff Vinik and Bill Gates' Cascade Investments, has unveiled plans for the first residences within the planned $3 billion Water Street Tampa development in downtown Tampa.

The twin-towered development will feature both rental units and for-sale condominiums and be tied together with amenities and a full-service grocery store, SPP says. The 26-story and 21-story project is slated to break ground next year and be completed in 2020, from a design by famed architectural firm Kohn Pedersen Fox Associates in conjunction with Raymond Jungles Inc. and Cecconi Simone. The 815 Water Street towers will be Kohn Pedersen's first in the Tampa Bay area.

SPP says the residences will be built adjacent to Amalie Arena and the Tampa Bay History Center, at the intersection of Water Street and Channelside Drive. It is expected to be the second building to undergo construction in the district, following the $130 million USF Morsani College of Medicine and Heart Institute. The developer also has unveiled plans for a 700,000-square-foot office tower within Water Street Tampa and a new 500-room, upscale hotel that will be connected to the Marriott Waterside Hotel.