Jeff Vinik & Cascade Investment's $3 billion vision to transform downtown Tampa and Channelside

Posted at 3:22 AM, Jun 27, 2017
and last updated 2017-06-27 11:18:41-04

Tampa, this is what your cityscape will look like in 10 years.

The $3 billion dollar investment is a partnership between billionaire Jeff Vinik and Cascade Investments.

Strategic Property Partners is spearheading the decade long, 50-acre mixed-use waterfront neighborhood called Water Street Tampa.

Ted Krawsek and his family have lived in Tampa for 20 years and enjoyed Channelside in the past.

"It was our favorite spot," said Krawsek. "It's where we would come down to."

They also watched its demise.

"That nostalgic feel for us is gone," said Krawsek's wife. "It doesn't have the life that used to have and it's kind of sad because back when we went this was so much fun."

"There will be upwards of 22 cranes swinging in downtown Tampa," James Nozar, the CEO for Strategic Property Partners.

Nozar's company is breaking ground on an a project he hopes will breath new energy into the Channelside district. Dirt has been moving since 2016 starting with roadway construction.

The project includes new high-rise buildings, the first ones in Tampa in nearly 25 years. There will be 30 new buildings after the project is complete.

"Were practically doubling the number of housing units in downtown Tampa," said Nozar. "There will be about 23,000 new people living and working in visiting Water street Tampa on a daily basis."

The first thing you will see is the USF College of Medicine, a new hotel and improvements to Waters Street and Channelside Drive by 2022.

Half of Channelside Bay Plaza will be also knocked down to get a better view of the Tampa Bay.

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