A North Carolina apartment developer that’s been active in the Tampa Bay region in recent years will build the residential component of Midtown Tampa, a massive, mixed-use development at Interstate 275 and North Dale Mabry Highway.
Bromley Cos., the New York-based developer of Midtown Tampa, said Thursday that it has partnered with Charlotte, North Carolina-based Crescent Communities to build Novel Midtown, which will include 390 units. It is expected to be complete in the second half of 2020.
It will be built on top of restaurant and retail space.
Midtown Tampa is 22 acres bound by I-275 to the north; Himes Avenue to the east; Cypress Street to the south and Dale Mabry to the west. Bromley is planning to build 1.8 million square feet, including retail, office space, the Crescent apartments, a hotel and public spaces. Total development costs are pegged at $150 million.
Whole Foods Market Inc. has committed to a spot within Midtown; it will relocate its store from the nearby Walters Crossing shopping center to Midtown. Other retailers targeted for the site include REI, fitness studios, boutiques and restaurants.
“Tampa has really evolved into an attractive market, with strong employment growth and an active, livable environment, making it ripe for the first truly-integrated, walkable, mixed-use development in this region,” Jay Curran, senior managing director for Crescent Communities, said in a statement.
Crescent developed an apartment community that sold for one of the highest prices per unit in Tampa Bay history: Crescent Bayshore, which is now 2Bayshore. Its Tampa Bay projects also include Novel Riverwalk, which recently opened in downtown Tampa. Crescent also built and sold off Crescent Westshore and Crescent Crosstown.