Sunday, June 16, 2024

Cresset Partners Reveals Collaboration for 390-Unit Mid-Rise Apartment Building Development in Tampa

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Cresset Real Estate Partners Announces Joint Venture for 390-Unit Mid-Rise Apartment Building in Tampa, Florida

Cresset Real Estate Partners, in collaboration with KETTLER and Daryl Shaw, is set to embark on an exciting new development project in Tampa, Florida. The joint venture will see the construction of a 390-unit mid-rise apartment building, adding to the vibrant real estate landscape of the city.

With KETTLER, a renowned developer based in Washington D.C., and Daryl Shaw, a prominent landowner in Tampa, on board, the project promises to deliver luxury living spaces in a seven-story building spanning over 273,000 square feet. Additionally, the development will feature 9,700 square feet of ground-floor commercial space, catering to the diverse needs of residents.

The partnership also includes Juneau Construction Company as the general contractor, ensuring top-notch construction quality and timely delivery of the project. Financing for the development has been secured through the Canadian Imperial Bank of Commerce and Trustmark, highlighting the confidence in the project’s potential success.

The apartment building is part of the larger Gasworx mixed-use development, a sprawling 33-acre project that aims to transform the area with a mix of commercial and residential spaces. Over the next decade, Gasworx is expected to evolve into a dynamic hub of activity, offering a range of amenities and opportunities for residents and visitors alike.

Cresset Real Estate Partners’ commitment to identifying and capitalizing on lucrative opportunities in the private market is evident in this latest venture. By leveraging their industry expertise and professional network, the team aims to generate significant returns for investors while contributing to the growth and development of Tampa’s real estate sector.

KETTLER, with its decades of experience in multifamily development and property management, brings a wealth of knowledge and capabilities to the project. Their dedication to creating vibrant communities aligns perfectly with the vision for the new apartment building in Tampa, promising a high-quality living experience for future residents.

As construction gets underway and the vision for the project takes shape, all eyes are on Tampa as it prepares to welcome a new landmark in its ever-evolving skyline. Stay tuned for more updates on this exciting development as it unfolds.

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