Developer Acquires Second Parcel of Land for VeLa Towers

VeLa Development Partners has purchased a second parcel of land for VeLa Towers. The second parcel, 1236 Channelside, was acquired for $5.75 million, according to Hillsborough County records. Public records also show that VeLa took out a mortgage for $6.385 million from CIBC Bank USA The project has received approval from the Tampa City Council. According to Hillsborough County public records, in December 2022, an LLC connected to VeLa Development Partners paid $18.15 million, for the adjacent parcel which is located at 1242 Channelside. Public records indicate the developer took out a mortgage for $15.4 million, also from CIBC Bank USA, for that parcel. Vela Towers Tampa will add 532 apartments along with 8,000 square feet of ground level office/commercial space. 54 units have been designated for affordable housing. The plans call for two towers.  Tower one, 343,780 square feet, would rise to 37 stories and tower two. 105,600 square feet would rise 17 stories.  A six-story parking garage containing 473 parking spaces would be at the base of both towers.

View VeLa Towers Tampa >>