Strategic Property Partners, LLC Commences Construction of Water Street Tampa with a JW Marriott Hotel

TAMPA, Fla., April 26, 2018 /PRNewswire/ -- Strategic Property Partners, LLC ("SPP") has broken ground on a 519-room JW Marriott hotel that, once open in 2020, will mark the luxury brand's debut in the Tampa Bay region.

The hotel also represents the first project of 10 buildings that SPP, the developer behind the Water Street Tampa neighborhood, plans to begin building over the next year. These buildings will join the University of South Florida's Morsani College of Medicine and Health Heart Institute, which broke ground in Fall 2017.    

Water Street Tampa will transform downtown Tampa through the creation of a dynamic, mixed-use neighborhood where over 23,000 people will live, work, visit and explore every day. The first new downtown office towers to be built in nearly 25 years will also debut along with 1,500 new residences, including the first downtown condominium residences in almost a decade, two new hotels (the JW Marriott Tampa and the recently-announced Tampa EDITION hotel), and approximately 50 new neighborhood-oriented retailers and restaurants.

One of the largest downtown real estate developments in the United States, Water Street Tampa when fully built out will include more than nine million square feet of commercial, residential, hospitality, educational, entertainment, cultural and retail space. Bringing the ambitious vision to fruition will require the use of about 20 construction cranes by spring of 2019 and up to 2,800 workers daily.  

"Through our partnership with Marriott, we're thrilled to offer a one-of-a-kind hospitality experience to residents and visitors alike across these three very unique hotels, while also elevating the hospitality experience in Tampa Bay," said SPP Chief Executive Officer, James Nozar. "Breaking ground on the JW Marriott Tampa is a momentous milestone for the broader neighborhood we are creating. Water Street Tampa aims to add a fresh new perspective to Tampa's ongoing urban renaissance, offering a new destination for travelers and providing Tampa residents with an exciting new space to explore and enjoy every day."

Three hotels ? the Tampa Marriott Waterside Hotel and Marina, the JW Marriott Tampa hotel, and the Tampa EDITION ? will anchor the Water Street Tampa neighborhood.

The JW Marriott Tampa hotel is being designed by Nichols Brosch Wurst Wolfe & Associates, with interiors by Champalimaud Design.  The hotel will be adjacent to the Tampa Convention Center and Amalie Arena, home to the National Hockey League's Tampa Bay Lightning, and will play a prominent role in accommodating large groups and tourists to the Tampa Area. The hotel will feature 100,000 square feet of meeting and event space, including the largest hotel ballroom in Tampa Bay at approximately 30,000 square feet.

"The new JW Marriott is a perfect addition to the continued expansion and economic development of Tampa," said Noah Silverman, Chief Development Officer, North America Full Service Hotels for Marriott International. "With an exceptional location, views and planned amenities, the hotel will introduce an elevated guest experience in the Tampa Bay region and play a key role in enhancing the lifestyle of one of the country's fastest-growing cities. Marriott is delighted to partner with SPP on the exciting Water Street Tampa neighborhood development."

Designed to become a center of activity, the JW Marriott Tampa will offer multiple social spaces and amenities across six levels, including a full-service spa and fitness center; an expansive pool and sun terrace; a full-service, ground-floor restaurant with indoor and outdoor seating, and other neighborhood-serving retail outlets. A rooftop lounge and terrace on the hotel's 26th floor will boast sweeping 360-degree views of downtown Tampa and Hillsborough Bay, and will become the highest rooftop bar in Tampa Bay.

"Tampa has become one of the most sought-after cities because of its high quality of life, affordability, and culture," said Bob Buckhorn, Mayor of Tampa. "Downtown Tampa has long been earmarked for development. The new JW Marriott Tampa and the Tampa EDITION will introduce an incredible hospitality offering with premium amenities to the city, complementing the transformational Water Street Tampa neighborhood and enhancing Tampa's ongoing renaissance."

In addition to the JW Marriott Tampa and the Tampa EDITION, SPP is also renovating the 727-room Tampa Marriott Waterside Hotel and Marina. The JW Marriott Tampa and Tampa Marriott Waterside Hotel & Marina hotels are located adjacent to one another and will together create the largest collection of hotel rooms and meeting space in Tampa Bay, with 1,246 rooms and 150,000 square feet of meeting and event space. The renovations of the Tampa Marriott Waterside Hotel and Marina began in the fall of 2017 and will continue through 2018.

A grand opening of the JW Marriott Tampa is scheduled to take place in the fall of 2020.

For more information, please visit waterstreettampa.com/JWMarriott.

About Strategic Property Partners
Strategic Property Partners ("SPP") is a partnership between Cascade Investment LLC and Jeff Vinik. SPP is a full-service commercial real estate development firm focused on world-class execution, innovation, and creating high quality and experiential places. SPP's first project, Water Street Tampa, is being developed on over 50 acres of land the company controls in downtown Tampa along the waterfront. The phased Water Street Tampa development project is revitalizing the currently underutilized tract of land to create an urban, mixed-use waterfront district consisting of approximately 9 million square feet of new commercial, residential, hospitality, cultural, entertainment, education, and retail uses, totaling over $3 billion in private investment from SPP. Integrating principles of walkability, sustainability, connectivity, design quality, and wellness, SPP will create, own and operate this new world-class neighborhood in in Tampa, while also elevating the city's national prominence. For more information on Water Street Tampa, visit www.waterstreettampa.com.

SOURCE Strategic Property Partners