New Water Street Tampa apartment building to target ‘younger, more active’ tenants

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1010 Water Street will include 481 apartments at the intersection of Water Street and Cumberland Avenue as part of the $3 billion Water Street Tampa project. [Rendering via Strategic Property Partners]

TAMPA — The developers of Water Street Tampa on Wednesday outlined details for another tower expected to start construction in coming months: 1010 Water Street, consisting of 481 apartments at the intersection of Water Street and Cumberland Avenue.

The building will include studio, one- and two-bedroom apartments. No proposed rents were disclosed, but developers said the project is meant to appeal to "younger, more active and more price-conscious consumers."

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The building will include an indoor-outdoor bar, individual outdoor kitchens, a rooftop pool with enclosed cabanas, and a rooftop lawn for recreation and movies and sport-watching.

"These shared spaces are not only an extension of the home, but a place for interaction and socialization, a forum for building community," Strategic Property Partners CEO James Nozar said in an announcement of the project. Strategic is a partnership between Tampa Bay Lightning owner Jeff Vinik and Cascade Investment, the private wealth fund of Microsoft co-founder Bill Gates, to develop the $3 billion Water Street Tampa project.

Next to 1010 Water Street’s rooftop terrace will be a fitness center, private party rooms, a movie room, and a co-working space with private conference rooms. The building will offer 24-hour concierge service for residents. The lobby will double as a coffee shop, part of 32,000 square feet of ground-floor retail, for both residents and others in the neighborhood.

Morris Adjmi Architects of New York City, in partnership with Florida-based firm ODP Architects, designed the building, Adjmi’s first residential project in Tampa. An artist’s depiction shows a stair-stepped roof line with about 21 floors at the highest point. Strategic has said it expects to start construction on 1010 Water Street this year, but gave no further details on the schedule on Tuesday.

Strategic has also said it plans to start construction this year on another residential project at 1077 Water Street. A third project, a pair of 21- and 26-story apartment towers, plus a ground-floor grocery store, is already under construction at 815 Water Street with an opening expected in late 2020. In all, the company says it plans to begin construction on six projects this year.

Contact Richard Danielson at rdanielson@tampabay.com or (813) 226-3403. Follow @Danielson_Times

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