New mixed-use building coming to Water Street Tampa development

The developers behind Water Street Tampa have taken the first official step toward putting up a new building in the neighborhood just outside the city’s downtown.

Strategic Property Partners filed plans for the building with the city Friday that calls for 38,000 square feet of retail space, 675 parking spaces and a signature rooftop area. The building will be 124 feet, which unofficially translates to about 10 or 11 stories.

It will be built at the northwest corner of Water Street and East Cumberland Avenue and expected to be completed by late 2027.

SPP is also building a 1-acre park in the development which is also expected to be completed late 2027.

Water Street is a $3 billion, 56-acre, mixed-use development just south of downtown Tampa. The nine million-square foot district includes commercial, residential, hospitality, entertainment and retail space.

SPP announced last year that it was expanding Water Street with three new projects including a new office building, residential tower and entertainment venue as it entered into a new phase. The new building will continue to push the neighborhood to the north.

SPP’s CEO Josh Taube says in a statement that the new building “is grounded in our commitment to thoughtful, strategic growth.”

“We are seeing immense national and local retail demand and look forward to adding shopping along with new restaurant options.”