April 2020. Tampa Commercial Real Estate was pleased to represent our client in the acquisition of a property for a forward-thinking mixed-use development. For its role in successfully completing this deal, the Florida Gulfcoast Commercial Association Realtors awarded the Overall Deal Of The Year to Steven Silverman.
This project raises the bar for mixed-use development and self-storage in the USA. It presents new possibilities for mixed-use urban environments. In many US cities, self-storage has suffered increasing push back from both City Councils and the public in urban environments where self-storage is viewed as unattractive and a detriment to the neighborhood. At the same time, it is precisely the dense urban environments that are dominated by multi-family development that most need self-storage.
In this development project, where self-storage is attractive and seamlessly blends into the surrounding mixed-use components, a self-storage element is achieved that is acceptable to communities, cities, and developers. This project enhances the concept of mixed-use and adds storage as an important community amenity that complements the traditional Retail, Office and Multi-family components of a Class A mixed-use development. The approved project will comprise, built to the same design standard:
- · A 5 story 140,000 sf Self Storage Facility with Retail on the first Floor
- · A 15 story, 305 unit apartment complex
This was a complex transaction requiring knowledge of Retail, Industrial, Multi-Family, Zoning Regulations, and Future Land Use. In this transaction, we successfully represented our client in a competitive & strategic battle for one of the most desirable properties in Tampa. The property is located in the heart of the new Water Street development.
