Developer Secures $30.5 Million Loan for Riverfront District
Developer Related Group has secured a $30.5 million loan for a proposed project along the Hillsborough River across from downtown Tampa. According to public records, Related Group took out a mortgage with City National Bank of Florida. Riverfront District would include 1,079 residential units, spread across three buildings, the 48-story South Tower, the 39-story North Tower, a 23-story tower and an 8-story tower. The residential units will include student housing, condominiums, and apartments. The development would also include 32,760 square feet of retail space and 10 boat slips. The initial plan, approved in 2017, called for 375 residences, 690,000 square feet of office space, 60,000 square feet of retail space and 350 hotel rooms. Related Group acquired six acres of land along the river for $55 million in July 2022. The developer has said if the change is approved, construction would start in 2023.