Strategic Property Partners is simultaneously working on multiple projects for Jeff Vinik’s billion-dollar project, but some may come to fruition as soon as this summer.
Renovations to the Tampa Marriott Waterside and Marina should start to take shape in the coming months.
Plans in the works include redoing the pool deck and extending the terraces toward the water and providing covered, outdoor seating. The restaurants inside the hotel will be rebranded and a total room renovation is being discussed.
SPP is also considering breaking ground on the office components of its district without a tenant in place. Speculative office construction is downtown Tampa would be impossible for a traditional developer – it’s too risky for investors and lenders.
But SPP isn’t dependent on traditional financing. Its partner in the district is Cascade Investment LLC, the fund controlled by Microsoft Founder Bill Gates.
SPP is also working with Franklin Street on plans for Channelside Bay Plaza, which are expected in the coming weeks.
There’s talk of demolishing the southwest wing of the plaza, behind the recently opened Hablo Taco, as a way to open the property up to the water. The plan will have to win the approval of Port Tampa Bay, which owns the ground the mall is built on.
