Channelside continues to promise big improvements to downtown Tampa, including updated roadways, new restaurants and stores, and hotels and homes. Tampa Bay’s economy is also certain to boom right along with Channelside, thanks to the new influx of jobs and commerce.
Channelside Development Soars
In 2015, the owner of the Tampa Bay Lightning, Jeff Vinik, announced a plan to redevelop the core of downtown Tampa by pledging a $2 billion investment, backed by Bill Gates through Cascade Investment.
Mr. Vinik bought Channelside Bay Plaza, and has since updated the storm water run-off and cable communication lines that service Channelside Drive. Vinik also plans to improve the roads in the area, and bring Channelside that much closer to his vision of making urban downtown Tampa a walkable and desirable waterfront community.
$35 Million in Improvements for Channelside Drive
Vinik’s $35 million road work project is scheduled to start this summer along Channelside Drive, and will most likely be spread out over two years in order to accommodate local traffic and promote pedestrian traffic in the area.
Channelside will also be getting bigger and better medical care in the form of USF’s Health Heart Institute and the Morsani College of Medicine. Plans also include an impressive 400-room hotel next to Amalie Arena, upscale office buildings, over 200,000 square feet of premium dining and shopping, and a revamped marina and cruise ship terminal.
The Vision for Channelside
Developers are aiming for a dynamic and all-inclusive community in Channelside, where people will love to live, work, shop, and play. Over 1,000 new residences are in the works for the area, including luxury condos in two 75-story residential towers.
Tampa’s Museum of Science and Industry (MOSI) has also recently announced plans to build a new and future-focused science center in Channelside, built with environmental sustainability in mind.
One of the most popular grocery stores in the Southern United States, Publix has also confirmed that they will be opening a new store in the Channelside district at E. Twiggs and Meridian, which will be almost 40,000 square feet in size and provide roof-top parking for shoppers.
A Renaissance for Downtown Tampa
All of the new real estate, office space, and retail outlets are drawing even more promising possibilities in the form of a fresh wave of residents and a boost to the Tampa Bay economy. With all of the money and development planned for Channelside’s future, investors and residents alike are viewing the improvements to the area as a renaissance for downtown Tampa.