News Summary
The Gasworx project in Ybor City, led by KETTLER and local partners, is moving forward with new leasing agreements and a $182 million construction loan. The development will include residential, office, and retail spaces while emphasizing pedestrian accessibility and historic preservation. Construction is set to begin in early 2025, with plans to create a vibrant district linking Ybor City and downtown Tampa, ultimately housing thousands of residential units and a unique marketplace.
Tampa
The Gasworx project, a significant redevelopment initiative in Ybor City, is advancing with the announcement of new leasing partners and a substantial financing package. KETTLER, a national real estate firm, is overseeing the mixed-use development, which aims to transform four key blocks in the historic district.
Tampa-based JPRE Development and Archer Group Real Estate have joined the project to lead the retail and restaurant leasing efforts. The development is poised to include hundreds of new apartment homes, 100,000 square feet of office space, and a unique 28,000-square-foot food-focused marketplace.
To align with Ybor City’s historic character, the leasing strategy for Gasworx will focus on attracting a diverse mix of local and national tenants. This project marks a joint venture between KETTLER, local developer Darryl Shaw, and global investment firm PPF Real Estate, reflecting a collaborative approach to this ambitious undertaking.
Recently, Gasworx secured a $182 million construction loan from Bank OZK. The funds will facilitate the development of Blocks E1, E2, and E3, which encompass residential, retail, and office spaces within the Gasworx footprint. The design of the development emphasizes pedestrian and bike accessibility, integrating green spaces and repurposed marketplace environments.
Project Breakdown
The E1 Block is set to feature a five-story building with 140 residential units and 18,000 square feet of retail space. The E2 Block will house a 28,000-square-foot marketplace in a transformed warehouse alongside a 100,000-square-foot office building, which will serve as the headquarters for Grow Financial.
The E3 Block will include a 10-story building comprising 376 residential units and 29,000 square feet of retail. Its planned amenities feature a rooftop pool and a fitness center, further enhancing the living experience for future residents.
Construction Timeline and Connectivity
Construction is slated to commence in early 2025, with projected completion dates ranging from late 2026 to early 2027. The Gasworx project’s design aims to create a vibrant mixed-use district linking Ybor City and downtown Tampa. Once completed, it is expected to house over 5,000 residential units, alongside 500,000 square feet of office space and 150,000 square feet of retail space.
The development may also include the construction of a new TECO Line Streetcar station and potential plans for a Brightline station, enhancing local transportation options. Additionally, community discussions have taken place regarding the feasibility of incorporating a Tampa Bay Rays stadium within the Gasworx development.
Community Impact
As a central component of Ybor City’s urban renewal, the Gasworx project is anticipated to stimulate economic growth and provide a lively gathering space for residents and visitors alike. By facilitating a blend of residential, commercial, and recreational areas, Gasworx aims to redefine the character and functionality of the neighborhood, honoring its historical significance while embracing modern development trends.
In summary, the Gasworx project stands as a transformative initiative within Ybor City, showcasing a commitment to innovative urban development. With a focus on community character, sustainable design, and accessibility, the project promises to be a new landmark in Tampa’s evolving landscape.
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Additional Resources
- TBB Business Magazine: Gasworx Secures Loan for Ybor City Redevelopment
- Wikipedia: Ybor City
- Florida Trend: Ybor City’s Gas Worx Project Plans
- Google Search: Ybor City Gasworx project
- St. Pete Catalyst: Behind the Vision for Gas Worx Project
- Encyclopedia Britannica: Urban Redevelopment
- Business Observer: Apartment Community in Gasworx
- Google News: Gasworx Redevelopment
Author: STAFF HERE TAMPA WRITER
The TAMPA STAFF WRITER represents the experienced team at HERETampa.com, your go-to source for actionable local news and information in Tampa, Hillsborough County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Gasparilla Pirate Festival, Florida State Fair, and Tampa Riverfest. Our coverage extends to key organizations like the Tampa Bay Chamber of Commerce and United Way Suncoast, plus leading businesses in healthcare, finance, and technology that power the local economy such as BayCare Health System, Grow Financial Federal Credit Union, and KnowBe4. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERESTPetersburg.com, and HERETallahassee.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
