Developers believe they have the perfect mix for young renters: an upscale high-rise apartment complex located in the Channel District.
The approximately $55 million project is the second in Florida for the development partners, following the November opening of Skyhouse Orlando
Skyhouse Channelside is expected to provide 500 construction jobs and attract more than 400 residents -- mostly young professionals -- to the new urban district along the Tampa Port's waterfront between downtown and historical Ybor City.
Apartments will offer one to three bedrooms with floor-to-ceiling glass opening to grand vistas. The "SkyHouse" is on the top floor with a club room, fitness equipment and outdoor plazas featuring a swimming pool, fireplaces, covered outdoor lounges and 360-degree views of the city skyline.
"Our mission with SkyHouse is to find places in dynamic cities where 25- to 34-year old singles can, with our developments, experience a great high-rise living experience that fits within their budget," says Jim Borders, Novare Group's president. "Tampa is the main business center along the west coast of Florida and continues to draw young, educated professionals who will enjoy everything SkyHouse has to offer."
Novare is familiar with Tampa's urban infill renaissance. The company co-developed the Element on Franklin Street and SkyPoint on Ashley Drive.
Downtown and the Channel District are destinations for people seeking an energized, urban living experience with museums, night life, jobs and public transportation. Other high-rise apartments and condominiums, built as the real estate market collapsed several years ago, now are nearly fully occupied.
Young people and empty-nesters especially are looking for the "lock-and-leave" life-style of walkable restaurants and entertainment, says Byron Moger, executive director of commerical real estate firm, Cushman & Wakefield
"I think it's very appealing to people who want to live downtown," Moger says. "I think its a genuine lifestyle that has reached critical mass."
Harbour Island and Downtown Tampa have potential for more multifamily residential, he says.
Another project slated for the Channel District is The Martin at Meridian, a high-rise, south of Twiggs Street. And downtown may get a residential tower next to the David A. Straz, Jr. Center for the Performing Arts.
SkyHouse residential towers can be found in cities in four states: Florida, Georgia, Texas and North Carolina. In addition to Batson-Cook, Novare is partnering with architectural firm Smallwood, Reynolds, Stewart, Stewart
Wells Fargo is providing construction financing for the project. Steve Gardner and Truett Gardner of Gardner Brewer Martinez-Monfort are local attorneys with the project.
Writer: Kathy Steele
Sources: Jim Borders, Novare Group; Byron Moger, Cushman & Wakefield