NAVIGATION

April 19, 2018
Targeting millennials for growth in Tampa Bay

Photo: Related Group

In 2015, Related paid nearly $18 million for the Tampa Tribune building on the west ban of the Hillsborough River. After demolishing the building, Related plans to develop 400 apartments and a riverfront restaurant.

Tampa Bay Roundup

Targeting millennials for growth in Tampa Bay

Miami's Related Group looks to the Tampa Bay area for opportunities.

Amy Martinez | 10/26/2016

In fall 2013, Related Group, a longtime condo developer in Miami, completed its first project in downtown Tampa, a 356-unit apartment complex called Pierhouse. Several months later, Related sold the four-story, four-building complex to Florida’s public pension fund for $76.5 million.

Since then, Related has begun work on two apartment developments in Tampa and won a bid to overhaul the city’s oldest public housing project. It’s also active in St. Petersburg, where it plans an apartment high-rise on Central Avenue downtown.

Related sees the Tampa Bay area as a strong market with above-average job growth and an increasing number of young, educated residents who prefer highdensity, urban-type living.

“We follow jobs, but we also follow quality of life,” says Steve Patterson, who heads up Related’s multifamily and mixed-use development division.

Related’s Tampa Bay-Area Projects

» In 2014, Related unveiled plans for a 21-story apartment tower in Tampa’s Harbour Island neighborhood. The Manor at Harbour Island will have 340 units and a pedestrian skyway stretching to a garage in a neighboring office building. Construction began in January. Leasing is expected to start in the spring, with rents averaging about $2,400 a month.

» In 2015, Related paid nearly $18 million for the Tampa Tribune building on the west bank of the Hillsborough River. (The Tampa Bay Times has since bought and closed the Tribune.) After demolishing the building, Related plans to develop 400 apartments and a riverfront restaurant.

» Related plans to begin building a 15-story apartment building in downtown St. Petersburg in 2017. The project includes 370 apartments and ground-floor retail space. Related also envisions restoring an historic bank building on Central Avenue.

» In June, the Tampa Housing Authority chose Related to replace World War II-era public housing with a new transit-oriented community for low- and moderate-income families. The proposed West River project covers nearly 200 acres west of the Hillsborough River downtown. Plans call for more than 170,000 square feet of commercial space and about 1,640 homes, including rental and for-sale units. Related’s affordable housing arm, Related Urban Development Group, will lead the $500-million effort.

Players

Rhonda Mims

» Rhonda Mims, an attorney and chair of the Executive Leadership Council, a Virginia non-profi t devoted to raising the ranks of black executives, was named senior vice president and chief public affairs offi cer at WellCare Health Plans in Tampa.

» John McLendon, previously of MedStar Health in Columbia, Md., joined Johns Hopkins All Children’s Hospital in St. Petersburg as vice president and chief information offi cer.

» Suncoast Aquatic Nature Center Associates, a non-profi t that runs Nathan Benderson Park in Sarasota, hired Robert Sullivan as president and CEO. Sullivan formerly managed an events center in Wichita Falls, Texas.

Innovation Career-Planning App

The Pinellas Education Foundation in Largo has developed an app to help high school students decide on a career path. The Future Plans app asks users about their interests and abilities and then recommends related jobs in growing industries. Last spring, the U.S. Department of Education and Reach Higher, an initiative by first lady Michelle Obama, recognized Future Plans as one of five finalists in a national apps development contest, awarding it $25,000. Foundation President Terry Boehm will step down next year to focus on expanding Future Plans, which has been spun off into its own business. The app has more than 50,000 users.

Tags: Southwest, Housing/Construction, Real Estate

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