Under Construction

Water Street Phase Two

Tampa · Mixed-Use

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
Last verified Jul 15, 2026
17 months to delivery
48%
AnnouncedBreaking GroundConstructionOpening SoonNow Open
05.20.25
Start
2027
Completion
420
Units
26
Floors
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The story so far
Announced Apr 2024SPP unveils Water Street Phase Two — new office and residential towers extending the district north
tbbwmag.com
Broke ground 2025Active Phase-Two component is 815 Water Street (Heron), a dual-tower (21 + 26 stories, 420 residences) that broke ground 2025 (Coastal Construction/KPF); GC Coastal, KPF designer
coastalconstruction.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
Under construction
Expected opening 2027
Milestones are dated to when they actually happened and linked to their source. This record fills in over time as TMW tracks the project.
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.

Developer & design
The Tampa market 54 · Elevated supplyWater Street Tampa 13-project pipeline · 11,403 residences and keys · peak Late ’28 Explore the market →
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 under construction, with completion expected in 2027.

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.

How big is Water Street Phase Two?

Water Street Phase Two rises 26 stories with 420 residences.