Miami's Related Group is making its biggest bet yet on Tampa Bay — this time with a waterfront property in downtown Tampa that's been closely watched for nearly 40 years.
Related on Friday paid $55.5 million for 6 acres on the west bank of the Hillsborough River, mostly at the intersection of South Parker Street and West Kennedy Boulevard, the developer exclusively told the Tampa Bay Business Journal. The following parcels are included in the acquisition:
Related also plans to honor an agreement with the city under the current entitlements for the site, under which the developer will spend $8 million on expanding and enhancing the West Riverwalk. The acquisition comes as the expansion of the West Riverwalk takes a key step forward: On Thursday, Tampa City Council executed an agreement to accept $24 million in federal funding to extend and connect the West Riverwalk to the north. Related's new project, combined with Arabelle, could become a southern anchor for the West Riverwalk.
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"Then each time Fleetwood would be not so much overcome by remorse as bedazzled at having been shown the secret backlands of wealth, and how sooner or later it depended on some act of murder, seldom limited to once."
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