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.