Breaking Ground

Water Street Phase Two

Water Street Phase Two is the northward expansion of Strategic Property Partners' $3 billion Water Street Tampa district in downtown Tampa, extending the neighborhood across six new blocks.

Official Website
2025
Start
2031
Full build-out
250
Keys
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Details

815 Water Street, Tampa. 250 hotel keys. Broke ground May 2025, full build-out 2031.

The story so far
Announced Apr 2024SPP unveils Water Street Phase Two — new office and residential towers extending the district north
tbbwmag.com
Phase Two masterplan unveiled Jul 2025Strategic Property Partners revealed six new blocks including a Gensler-designed condominium tower billed as the tallest at Water Street, a build-to-suit trophy office building, an entertainment district north of Amalie Arena with a select-service hotel and live-music venue, and a one-acre park.
tampabay.com
Tenant announced May 2026Phase 2 entertainment district unveiled May 2026 — 3,500-seat live-music venue operated with Vinik Sports Group, six new blocks. NOTE for Jake: the Phase 2 vertical towers (condo/office) are in development review, vertical not expected until ~early 2027 — verify whether the pin's "Under Construction" means district sitework or the towers. Residential tower architect is Gensler + Nichols (AOR), not KPF.
tampabay.com
33-story tower added to Water Street Phase Two Jul 2026Strategic Property Partners filed plans for a 400-foot, 33-story tower with 452 residences over roughly 37,000 square feet of retail at Water Street and Cumberland Avenue, with Moss set to break ground in spring 2027 and complete in 2029.
businessobserverfl.com
New 33-story tower filed Jul 2026Strategic Property Partners filed plans for a 452-unit, 400-foot residential tower with 37,000 square feet of retail at Water Street and Cumberland Avenue, targeting a spring 2027 groundbreaking and a late 2029 completion.
tbbwmag.com
Residential tower filed Jul 2026SPP filed plans for a 33-story, 452-residence tower at Water Street and Cumberland Avenue, groundbreaking planned for spring 2027
businessobserverfl.com
Broke ground Aug 19, 2026 est.BACKWARD STATUS CORRECTION, routed here for review rather than applied live (a known worker bug makes correction:true on update_project_status apply immediately even in propose mode, so backward moves must come through the queue). The record reads "construction," but no Phase Two VERTICAL building is under construction. Only road and utility infrastructure for the Water Street extension has begun. The Gensler condo tower and the KPF office building are still in development review with vertical work not expected until roughly early 2027, and the newly filed 452-unit tower is slated to break ground spring 2027. Per the ontology, a project wrongly marked construction demotes BACKWARD to breaking-ground when ground has genuinely been broken (infrastructure has started here), never to coming-soon. Recommended: construction -> breaking-ground. This sweep did publish two live fixes on the record: delivery 2027 -> 2029 (marked speculative; the 2027 was impossible) and a stated GFA of 2,000,000. SEPARATE ISSUE for the same record, NOT changed: units=420 / floors=26 appear to belong to the WRONG BUILDING. Those are the specs of Heron at 815 Water Street, a Phase ONE dual tower (26 + 21 stories, 420 residences) that opened in April 2021, and the dossier's 2025 groundbreaking entry explicitly names "815 Water Street/Heron," so the conflation is already visible in the timeline. Phase Two's actual residential program is only partly disclosed. Needs a human call on what units/floors should read. start_date 2025-05-20 is presumably the infrastructure start and is also suspect if the status is walked back.
tbbwmag.com
Expected opening 2029 est.
Milestones are dated to when they actually happened and linked to their source. This record fills in over time as TMW tracks the project.
TMW IntelligenceVerified Oct 21, 2026
AnnouncedBreaking GroundConstructionOpening SoonNow Open
Delivers in phases · 1 component
TMW Intelligence

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About the project

Water Street Phase Two is the northward expansion of Strategic Property Partners' $3 billion Water Street Tampa district in downtown Tampa, extending the neighborhood across six new blocks. The phase adds a Gensler-designed condominium tower billed as the tallest building at Water Street, a build-to-suit trophy office complex with ground-floor retail, and an entertainment destination north of Amalie Arena anchored by a select-service hotel, live-music venue and dining — all knit together by a new one-acre park. It deepens one of the largest master-planned urban developments in Florida.

Companies and contacts

Every firm on Water Street Phase Two, the office nearest it, and the people who work on it.

Common questions

Frequently asked

Where is Water Street Phase Two located?

Water Street Phase Two is located in Tampa.

When will Water Street Phase Two be completed?

Water Street Phase Two is breaking ground, with completion targeted in 2031.

How will Water Street Phase Two be built out?

Water Street Phase Two is a phased, multi-component development with 1 tracked component delivering on a rolling schedule. Full build-out is expected in 2031.

Who is developing Water Street Phase Two?

Strategic Property Partners is the developer behind Water Street Phase Two.

Who designed Water Street Phase Two?

Water Street Phase Two was designed by Gensler, Nichols Architects, with interiors by MAWD.