Downtown Tampa tower with $358M in sales nears the top

Construction crews are nearing the top of the new Pendry Tampa & Pendry Residences, the luxury hotel and residential project under construction on the city’s Riverwalk.

The developer, Palm Beach Based-Two Roads Development, says to mark the occasion it is holding a ceremony Oct. 9.

The topping-off comes as the residential portion of the project is 75% sold, with a total value topping $385 million according to a spokesperson.

The 38-story luxury hotel and condominium complex is expected to open in 2027. When complete, it will have 220 hotel rooms, 10,000 square feet of meeting and ballroom space and a 14,000-square-foot spa. There will also be four dining concepts.

On the floors above the hotel will be 200 condos that will have a dedicated residential staff as well as a private entrance, lobby and elevator and access to hotel amenities. Units will begin at $1.7 million.

The project was first announced in 2021 when luxury hotelier Pendry and Two Roads said they planned to build the tower on a vacant piece of property between Ashley Drive South and the Riverwalk and Whiting Street and Brorein Streets.

Construction began in 2023.

Pendry Hotel & Resort is a luxury brand which was founded in 2002. It currently operates properties in San Diego, Baltimore, Chicago, Manhattan West and Washington, D.C. In addition to Tampa, it is working on projects in Barbados, Mexico City and Nashville.

The company is part of Montage International, a chain of ultra-luxury hotels, resorts and residences.