Commercial Real Estate, Capital, Insurance, Leasing & Management

Vinik-backed mixed-use development breaks ground in South Tampa

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"I don’t think there’s better real estate in town," said Andrew, CEO and Managing Partner for Franklin Street. "It has great demographics, and it's already a destination street around Tampa."

The former Xtreme Athletix site in South Tampa is giving way to a mixed-use development that will bring new retail, residential and office space to the neighborhood.

Demolition on the Xtreme Athletix building, at the intersection of South Howard and West Morrison avenues, started last week. Vertical construction will begin soon on a mixed-use development to include 13,890 square feet of retail, 6,950 square feet of office space and 46 residential units, said Andrew Wright, CEO of Franklin Street.

The development will include a parking garage and surface parking with a total of 240 spaces. It’s not yet been decided whether the residential units will be condominiums or apartments, Wright said. All but one are being built as 1,300-square-foot units with two bedrooms and two bathrooms — a size Wright said is more typical of condominiums than apartments.

The development should be complete in 12 to 18 months, Wright said.

Franklin Street is handling the management and leasing on the project for Metis Property Group Inc., the developer. Tampa developer Anthony Everett is a partner in the project, Wright said, and Tampa Bay Lightning owner Jeff Vinik is a “minority investor” in the project.

Wright and Everett are leading the redevelopment of Channelside Bay Plaza for Vinik’s Strategic Property Partners.

The group is “very, very close” to announcing a retail tenant, Wright said. One of the retail spaces will be for a restaurant with an elevator to a private terrace, Wright said. The group is targeting more daytime-oriented retailers for the remaining spaces, Wright said, such as a salon or coffee shop.

The South Howard area is arguably Tampa’s most urban, walkable neighborhood, with thousands of residences within walking distance of restaurants and retailers.

“I don’t think there’s better real estate in town,” Wright said. “It has great demographics, and it’s already a destination street around Tampa.”


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