TAMPA - (WFLA) - A developer is moving forward with plans for the tallest building on Florida's Gulf Coast, which will take downtown Tampa to new heights.
The Riverwalk Place Residences tower will be located along the Hillsborough River across from News Channel 8 studios. The lot is near the Wells Fargo building off Ashley Drive in downtown Tampa.
The 50-plus story tower will feature more than 200 luxury condos where the Cap Trust building is currently standing.
Co-developer Larry Feldman said the property provides an unusual opportunity to develop more than a football field of space along the waterfront.
“We were very fortunate to find this piece of land as really the best downtown waterfront piece,” Feldman said.
Developers said the tower was originally planned to be a mix of office and condos but now it will be all residential due to more than $70 million worth of reservations that have come in.
“There is no true, high-end luxury project anywhere in the market like this project. This will truly change the skyline of the city of Tampa,” Feldman said.
A parking garage will be built in the empty lot next to the Cap Trust building and will feature at least four restaurants on the bottom level with a rooftop park for residences.
MacDill Park, which is next to the Cap Trust building, will stay in place and developers said drainage will be improved in the area.
Condos are priced between $600,000 and $2 million and are now officially for sale.
The sales office kicked off a grand opening Thursday inside the Wells Fargo building downtown.
The office features a 6,000 sq. ft. demo with luxury highlights planned for top floor condos.