A $211.5 million infrastructure plan for Ybor Harbor would transform a large industrial waterfront site into a mixed-use district with new roads, seawalls, public spaces and waterfront access as the project seeks up to $35 million in CRA reimbursements.
CRA staff recommended distributing the reimbursements over five fiscal years beginning in 2029, with annual payments capped at $7 million through 2033 for roads, seawalls, utilities and waterfront infrastructure tied to the redevelopment between the Channel District and Ybor City.
The infrastructure package includes seawall construction, roadway and signalization work, utility relocation, pedestrian corridors, parks and waterfront promenades intended to reconnect the site to surrounding neighborhoods and Tampa’s waterfront system.
Project documents describe Ybor Harbor as a 19-block mixed-use redevelopment expected to generate more than 4,800 direct jobs and approximately $47 million annually in incremental tax revenue at full buildout. Plans also call for more than 2,500 linear feet of public waterfront access, expanded pedestrian infrastructure and new connections to the Selmon Greenway, Channel District and Ybor City.
The infrastructure work targets land along the Ybor Channel that currently contains industrial uses, brownfield conditions, aging utilities and deteriorating seawalls, with portions of the site sitting below the floodplain. Plans call for raising buildings above base flood elevation and constructing new shoreline infrastructure intended to improve long-term coastal resilience.
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The shoreline and flood mitigation work drives some of the project’s largest infrastructure costs, including an estimated $47.2 million for marine seawall construction. Additional major costs include roadway and signalization work, estimated at $22.8 million, and public realm improvements, estimated at $28.2 million.
Banana Docks LLC, which is managed by Darryl Shaw’s Ybor City Holdings LLC, initially sought $50 million in CRA participation for the infrastructure package, although CRA staff later recommended reducing the reimbursement to $35 million after reviewing long-term Channel District CRA budget projections.
Under the proposed structure, the developer would finance the infrastructure work upfront and seek reimbursement only after eligible improvements are completed. The reimbursements would apply only to infrastructure work within the Channel District CRA, where project documents estimate roughly $85.8 million in such work. The proposed agreement excludes private vertical construction costs, developer overhead and incomplete infrastructure work.
The recommendation would require the developer to establish a Community Development District by May 31, 2028 and provide final ownership documentation before receiving CRA reimbursements.
The proposal also includes a commitment to reserve 10% of rental residences as affordable housing units. Infrastructure work within the CRA boundary is projected to begin in 2027, with phased construction continuing through 2034.
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