Tampa Bay’s skyline is poised for another transformation. Costis-Lifsey Development and American Land Ventures announced plans for a $187 million high-rise on Rocky Point, a project set to bring 252 luxury apartments, sweeping bay views and a rooftop dining experience unlike anything in the region.
For developers and business leaders, the plan underscores Tampa Bay’s growth as a market for premium residential projects.
What Happened
The Residences at Rocky Point will be built on the site of the Rusty Pelican restaurant, located at 2425 Rocky Point Drive.
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Designed by Cube 3 and RSP Architects, with Kimley-Horn serving as the civil engineer, the project is scheduled to begin construction in early 2027 and is expected to be completed by mid-2028. Units will average 1,175 square feet and feature two-level floor plans, floor-to-ceiling windows and unobstructed views of Tampa Bay.
Amenities will include a waterfront infinity pool, beachside cabanas, a structured parking garage, a two-story resident lobby, a wellness spa, fitness center, sports lounge and clubroom.
“The jewel in the crown will be an 8,000-square-foot rooftop restaurant boasting a commanding view of Tampa Bay and a singular dining experience,” said Becky Costis Dumphy, co-manager of Costis-Lifsey Development.
Why It Matters
The project highlights several trends shaping the Tampa Bay market:
- Sustained demand for luxury. High-end multifamily development continues to rise as new residents move to the region.
- Waterfront resilience. The tower will feature hurricane-resistant windows, backup generators, deep foundations and shoreline stabilization designed for 100-year flood scenarios.
- Investor confidence. With a construction timeline extending into 2028, the development signals a long-term commitment to Tampa Bay’s growth trajectory.
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The Bigger Picture
Costis-Lifsey Development, a partnership of the Lifsey Family Trusts, has been actively involved in luxury residential and commercial projects in Tampa Bay for over 50 years. The Rocky Point tower represents the latest chapter in a legacy of shaping the region’s skyline.
The Residences at Rocky Point combines luxury living with engineered resilience, setting a new benchmark for waterfront development. As Tampa Bay continues to attract national capital and talent, projects like this reflect the region’s evolution into a premier market for premium residential investment.
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