Water Street Tampa's Phase II is under construction, and a new 33-story tower just entered the pipeline
Water Street Tampa, the 3.5 billion dollar, 50-plus-acre master-planned district led by Strategic Property Partners, is genuinely mid-construction on its second phase. That phase includes a newly announced entertainment destination and a mixed-use retail and parking development now under construction, adding more than 2 million square feet of development and representing nearly 1 billion dollars in additional investment layered onto the district's original scope.
Strategic Property Partners submitted updated plans for a new luxury residential tower at the intersection of Water Street and Cumberland Avenue, a 400-foot, 33-story building with 452 homes and retail space, targeting a spring 2027 groundbreaking and completion in late 2029. Separately, SPP revealed design plans for a new entertainment district that could begin construction in early 2027 pending city approval. Honest read: with the residential tower not breaking ground until 2027 and completing in 2029, and the entertainment district similarly pending approval, a rendering brief for these specific components should reflect their genuinely future, not-yet-under-construction status, distinct from Phase II's work already actively underway.