Gasworx: Transforming Tampa’s Urban Landscape with a Major Mixed-Use Development Project
Gasworx Project Kicks Off Major Urban Transformation in Tampa
TAMPA, FL – A significant new chapter in Tampa’s urban development has begun with the launch of the Gasworx project, a joint venture between Washington D.C.-based KETTLER Inc. and Tampa entrepreneur Darryl Shaw. The project, which is set to reshape the landscape of the city, recently welcomed PPF Real Estate as a majority stakeholder, further solidifying its ambitious vision for the area.
Construction on the current phase of Gasworx has officially commenced, with an expected completion date set for 2027. This phase promises to deliver a vibrant mix of new apartments, retail shops, and office spaces, alongside essential infrastructure improvements. Among the highlights are a pedestrian-friendly street, multi-use trails, and a new streetcar stop that will connect seamlessly to Tampa’s public transit system. Additionally, a new public park, financed by the developers and owned by the city, will enhance the community’s green spaces.
Spanning 50 acres between the historic Ybor City and the bustling Channel District, Gasworx is designed to maintain the small block sizes that characterize Ybor City, creating one of the most walkable neighborhoods in the Tampa-St. Petersburg metropolitan area. Upon completion, the Gasworx district will encompass 18 development parcels, featuring approximately 6 million square feet of space, including 5,000 residences, 150,000 square feet of retail space, and 500,000 square feet of office space.
Robert Ševela, CEO and chairman of PPF Real Estate Holding, expressed enthusiasm about the project, stating, “We are very happy to join the Gasworx project and the opportunity to participate in Tampa’s urban transformation, which residents and visitors will enjoy for decades to come.” He emphasized that this investment aligns with PPF’s strategy to diversify and create sustainable value while expanding their portfolio in the U.S. market.
Gasworx, named after a decommissioned gas production facility, builds on the success of the nearby Water Street Tampa development, which was initiated before the pandemic by Bill Gates-controlled Cascade Investments. The project has already attracted significant interest, including a headquarters lease commitment from Grow Financial Credit Union.
Renowned architectural firms S9Architecture and Sasaki, along with the U.S.- and Asia-focused architect of record, Smallwood, are collaborating on the design of Gasworx, ensuring that the project meets the highest standards of modern urban planning.
As the Tampa-St. Petersburg metropolitan area continues to rank among the top U.S. regions for population growth and business attraction, the Gasworx project is poised to play a pivotal role in the city’s ongoing evolution. With an investment commitment of approximately $1 billion in the U.S. since entering the market in 2021, PPF Real Estate is clearly betting on Tampa’s bright future.
As construction progresses, residents and visitors alike can look forward to a revitalized urban landscape that blends modern living with the rich cultural heritage of Tampa, setting the stage for a dynamic community for years to come.