Cresset Real Estate Partners formed a joint venture with KETTLER and Daryl Shaw to develop a 390-unit, mid-rise apartment building in Tampa.
The development, located in Ybor City, has already begun construction with an expected completion date in 2026.
In addition to the 390 apartment units including luxury studios, and one and two bedrooms, the seven-story building will have an additional 9,700 square feet of ground-floor commercial space and a seven-level parking garage with 482 parking spaces, in total.
The project is part of the larger 33-acre Gasworx mixed-use development that, when fully developed, will consist of approximately 5.9 million square feet of commercial and residential real estate, across 18 projects, and is expected to be developed over the next 10+ years.
The project is the latest development in Cresset’s second Qualified Opportunity Zone fund, Cresset Diversified QOZ Fund II.