The historical Kress Building may have found the right buyers for a makeover that will bring the iconic landmark back to life and propel a rebirth on North Franklin Street in the heart of Tampa's downtown core.
The Atlanta-based HRV Hotel Partners
and a team of Tampa developers including EWI Construction
Executives Sam and Casey Ellison, and partner Anthony Italiano; and Tampa developer Alex Walter of Walson Ventures are joining forces to re-develop the Kress building as a 22-story tower with a 190-room hotel and 58 residences. About 15,000 square feet is planned for "restaurant uses."
The former F.W. Woolworth and J.J. Newberry department stores, which sandwich the Kress building, are incorporated into the re-design.
A sales contract is pending the city's approval of the project, says real estate broker Jeannette Jason of DjG Tampa Inc. Realty Services
. She and her father, Miami-based real estate broker and developer Doran Jason, are management partners in Kress Square LLC, which owns the property in the 800 block of Franklin, across from the Element apartment complex. An entry into Kress also is located on Florida Avenue.
"We still have due diligence. We have a ways to go," she says. "I'm optimistic that these guys can get the deal done. I think the community will like the new plan and design."
Jason declined to provide details, saying she would leave that to the prospective development team.
But the project will have about half the density of another project initially approved in 2005 that never got off the ground, she says. That project included two residential towers with about 400 units, a parking garage and nearly 85,000 square feet for retail, office and other uses.
Tampa Mayor Bob Buckhorn says the redevelopment of the Kress building is the last major structure that his administration had set its sights on. "This is a building we have tried for three-and-a-half years to get done. It was a grand old structure that needed to be restored," Buckhorn says. "We have pushed. We have prodded. ... I couldn't be happier. It's nice to hopefully bring this one in for a landing."
Buckhorn also is hoping developers will honor the Blake and Middleton High School students who held the lunch counter sit-in at Woolworth in 1960. Their efforts pushed the city to integrate its businesses. "People need to know what took place there," he says, adding that public art could be included in the project.
City planners will review plans submitted by Walson Ventures and determine administratively whether to approve the project.
Preliminary plans submitted by Alfonso Architects
show nine floors each for hotel rooms and residences, a 2-story garage and an amenities deck. Four restaurants and a coffee/tea lounge for "grab and go" items also are shown.
"We're ready to go," says Buckhorn. "I'm hoping we see a groundbreaking in the not too distant future."
He sees the demand for more downtown residences growing especially among young professionals. "They are flocking here and bringing their friends with them," he says.