Gasworx: Transforming Tampa’s Landscape with a Major Real Estate Venture
Gasworx is set to become a landmark mixed-use development in Tampa, Florida, thanks to a collaboration between Washington D.C.-based real estate firm KETTLER Inc. and local entrepreneur Darryl Shaw. This joint venture will see substantial infrastructure and commercial enhancements, aiming to reshape urban living and workspaces in the city.
Key Details About the Gasworx Development
- Location: Spanning 50 acres between Ybor City and the Channel District, Gasworx embraces the rich cultural tapestry of Tampa.
- Project Phase: Currently, construction is underway for Phase II, which is expected to complete by 2027.
- Investment Stake: PPF Real Estate has acquired a majority stake in the current phase, signifying a strong commitment to the project.
What the Project Entails
The ambitious Gasworx project will ultimately encompass 18 development parcels, amounting to approximately 6 million square feet of mixed-use space. Here’s what to expect:
- Residences: About 5,000 new residential units will provide modern living options.
- Commercial Space: The project includes 150,000 square feet for retail and 500,000 square feet for office space.
- Public Amenities: Improvements will feature a new pedestrian street, multi-use trails, and a transit-connected streetcar stop, enhancing accessibility to and from Tampa’s public transportation system.
Infrastructure and Public Spaces
One of the key highlights of Gasworx is its focus on creating a pedestrian-friendly environment. This will include:
- A new public park, financed by the developers but owned by the city
- Multi-use trails for walking and cycling
- An increase in green spaces aimed at making the neighborhood more enjoyable for residents and visitors alike
Quotes from Industry Leaders
Robert Ševela, CEO and chairman of PPF Real Estate Holding, expressed enthusiasm about the venture:
“We are very happy to join the Gasworx project and the opportunity to participate in Tampa’s urban transformation, which residents and visitors will enjoy for decades to come.”
Ševela highlights the project’s potential to create sustainable value while focusing on expanding PPF’s portfolio in Western markets, particularly in the United States.
Architectural and Urban Planning Collaboration
Gasworx brings together a talented team for its urban design, collaborating with:
- S9Architecture: Known for iconic projects like the One Times Square redevelopment in NYC.
- Sasaki, a globally renowned urban planning firm.
- Smallwood, an architectural firm focused on U.S. and Asia markets.
Phase II Highlights
Phase II of the Gasworx development will feature:
- Three new buildings and the rehabilitation of an existing warehouse
- A total of 686,000 square feet of space
- 516 residences
- Over 90,000 square feet of retail space
- 95,000 square feet of rentable office space
Future Integration and Growth
Future phases of Gasworx aim to further integrate with the Water Street Tampa project, enhancing the overall connection to the downtown core. This synergy will create one of the most walkable neighborhoods in the Tampa-St. Petersburg metropolitan area, retaining the small block sizes characteristic of Ybor City.
Economic Growth in Tampa
The Tampa-St. Petersburg area has consistently ranked among the top U.S. regions for population growth and economic expansion over the past 15 years. The Urban Land Institute has categorized Tampa Bay as a “Super Sun Belt Magnet,” making it an attractive destination for both residents and businesses.
Investment Overview
Since entering the U.S. market in 2021, PPF Real Estate has committed approximately $1 billion towards investments, including the Gasworx project. This underscores their strategy to capitalize on expanding urban markets in the United States.
Conclusion
Gasworx represents a pivotal moment in Tampa’s urban development, promising a robust blend of residential, commercial, and public spaces. As the project progresses, it stands to significantly enhance the vibrancy and livability of the Tampa area, setting a blueprint for future urban developments.
For more information on similar urban developments, explore resources from Urban Land Institute and other real estate research organizations.
Engage with the Gasworx community as it unfolds—stay updated on construction milestones, job opportunities, and amenities by following local news channels and community boards.