Tomlin Commercial Real Estate
Related Group continues to expand its presence in Tampa's red hot real estate market
Image by the Related Group
Rendering of the apartment tower planed at the Related Group's recently-purchased property along the river walk.
CHRISTOPHER CURRY | 83 DEGREES MEDIA
Miami-based development giant Related Group continues to expand its presence in Tampa’s red hot real estate market.
In July, the company purchased a prime waterfront property on the west side of the Hillsborough River for $55.5 million, with plans to develop a mixed-use project overlooking the Tampa Riverwalk. This summer, Related Group launched sales for the second tower of its The Ritz-Carlton Residences, Tampa luxury condominium project along Bayshore Boulevard. The first tower sold out shortly after the start of construction, with one penthouse going for more than $11 million.
As the master developer of the West River redevelopment, Related Group and the Tampa Housing Authority recently marked the start of construction on Canopy at West River, a mixed-income rental project that will include 196 total units of public, affordable and workforce housing spread across two towers.
Future plans in the West River redevelopment include a market-rate rental project along the river and the $500 million Rome Yard mixed-use project, a pedestrian-friendly neighborhood with multiple modes of public transportation, a workforce training center, a cultural center and an art pavilion highlighting West Tampa history.
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