Tampa Channelside Downtown, South Tampa

Tampa

The word is out, Tampa was once a well-kept secret, but now developers from all over are undertaking ambitious projects all over the area. The area is seeing a transformation, not only from the beautiful Riverwalk winding through downtown Tampa which is drawing locals and visitors alike, but also from a corporate and medical center perspective.  Tampa, incorporated in 1849, was long known for little more than phosphate mining, cigar factories and Ybor city.

One of the most prominent of new developments is "Water Street Tampa", it is a $3 billion multipurpose undertaking covering 16 blocks on and around the Tampa downtown waterfront.  Underwritten by Strategic Property Partners, a joint venture called Cascade Investment, owned by Mr. Gates, the Microsoft co-founder, and Jeffrey N. Vinik, the owner of the Tampa Bay Lightning hockey team.  The more than 50-acre development will comprise of 3,500 residential units, two new hotels and renovations of another, as well as 17 buildings, restaurants, bars and retail centers.  From a business perspective, the project will add 2 million square feet of new downtown office space  -- an expansion that has not taken place in over 25 years. Planned improvements include new parks, sidewalks, bustling cafes, shade trees and areas for children to run through fountains.

Construction is well on its way of the Morsani College of Medicine and Heart Institute, near the Amalie Arena, the home of the Tampa Bay Lightning hockey team, and the Towers of Channelside a luxury condominium complex. The 325,000-square foot facility is part of University of South Florida.  Thanks to the support from outside investments and help from both the city of Tampa and Hillsborough County this $100 million addition is even causing the street grids to be revamped to make way for the project.