Monday Morning Memo

Monday, March 26, 2018

Partnership Presents

Downtown Development Forum Recap

On Friday we hosted our 22nd Annual Downtown Development Forum, with a focus on Innovation Driving Change. Over 280 business leaders, Downtown stakeholders and thought leaders joined us at the Tampa Convention Center as we engaged in thoughtful discussion about disruptive issues including transportation, parking, education, business, urban design and innovation development. View the full program for more information on the panelists and the discussion topics. Click the links below to access each of the presentations. For access to the Tampa Preparatory School presentation given by Kevin Plummer, please email info@tampasdowntown.com.

Thank you to our Platinum Sponsors: Lafayette Place, Hillsborough River Realty Corp./The Jeffries Companies; TECO, an Emera Company

Thank you to our Gold Sponsors: Strategic Property Partners; USF Health; USF Health Morsani College of Medicine; The University of Tampa

Thank you to our Silver Sponsors: Appraisal Development International, Inc.; Baker Barrios Architects; BayCare; Calvin, Giodano & Associates, Inc.; Columbia Restaurant Group; HDR Engineering, Inc.; Oxford Exchange; Smith & Associates Real Estate; Stantec; Tampa Bay Key Realty; Tampa Preparatory School; VHB

Thank you to our Bronze Sponsors: BCI Integrated Solutions; Burr Forman; Cristo Rey Tampa High School; Jones Edmunds; Madame Adassa; Tampa Bay Higher Education

Bike Month Continues

In 2015, Tampa Downtown Partnership created a Bicycle Friendly Business campaign to recognize leading downtown merchants embracing cycling for their employees and customers. This effort resulted in the City of Tampa ranking number one in the State of Florida and top ten in the country with over 30 certified Downtown businesses offering special incentives for customers arriving on bike. In fact, Tampa Downtown Partnership is the only Gold certified non-bike shop business in the state and in 2016 we won a state-wide award from the Florida Bicycle Association as the best “bike-friendly business”. Phase II includes applications for all downtown businesses so please contact us to learn more. Featured events: Urban Restaurant Tour 3/29 check out the full calendar here.

Innovation Summit Discount Code for Readers

Now in its second year, the Synapse Innovation Summit at Amalie Arena on March 28-29 aims to bring together innovators from all industries and stages of development to connect technology, regionally-based innovation and entrepreneurial ecosystems throughout Florida. Register for the event and use code TBSYNAPSE18  for $100.00 off of either a 2-day pass or a VIP ticket. Learn more about the event here.

Celebrate the Florida Orchestra’s 50th Season

Join the Florida Orchestra for a Happy Hour Concert at the Straz Center on April 5 or April 26 and enjoy $10 off with coupon code HAPPY. Doors and bars open at 5:30pm, an hour-long concert begins at 6:30pm, and stay for a musician meet-and-greet at 7:30pm. View the flyer for more information. See you there!

Your Downtown Calendar

The following is just a sample of upcoming events in Downtown Tampa.  Visit the Downtown Tampa Events Calendar for a more comprehensive list. Going to one of the events? Snap a photo and tag #UrbanInsiderTPA

Heights Urban Food & Spirits Tour

Tuesday, March 27, begins 1pm
Ulele
This event will have you eating and drinking local. Explore Tampa Bay’s cuisine and spirits on a food or craft beer tour. The Heights-focused food and cocktail tour will visit Ulele, Armature Works Heights Public Market and The Hall on Franklin. This is a great way to sample local favorite restaurants and breweries and enjoy some of the newest eateries in the up-and-coming Heights area. For more information, go to Heights Urban Food & Spirits Tour.

Easter Weekend at the Aquarium

Friday, March 30 to Sunday, April 1
The Florida Aquarium
Kick off your Easter weekend with an exciting event mixing the holiday with the underwater allure of the Aquarium. Enjoy fun crafts, activities, and an underwater Easter egg scavenger hunt! There will also be a diving Easter Bunny and plenty of photo ops with the Easter Bunny in the Panoramic Coral Reef Room. For more information, go to Easter Weekend at the Aquarium.

Taking the Stage at the Straz Center

HIR at Jobsite Theater – Through Sunday, April 1
Anna & Elizabeth – Monday, March 26, begins 7:30pm
Beautiful- The Carole King Musical – Tuesday, March 27, begins 7:30pm
Francesca Ani- Live & Local – Saturday, March 31, 6:45pm to 8:45pm
Easter Brunch at Maestro’s – Sunday, April 1, begins 11am

This Week at Amalie Arena

Tampa Bay Lightning vs. Arizona Coyotes – Monday, March 26, begins 7:30pm
Demi Lovato & DJ Khaled – Saturday, March 31, begins 7:30pm
Tampa Bay Lightning vs. Nashville Predators – Sunday, April 1, begins 6pm

On the Marquee at Tampa Theatre

The Party – Through Monday, March 26
Isle of Dogs (2018) – Tuesday, March 27 to Wednesday, April 11
Member Mixer – Wednesday, March 28, begins 6pm

Doing Business in Downtown

Vinik Invests $12M in DreamIt

Tampa Bay Lightning owner Jeff Vinik is pumping $12 million into DreamIt, a Philadelphia-based early-stage venture fund and accelerator. Vinik, who will become a partner and join the DreamIt board of directors, said both he and the company “hope to put more startups into orbit.” Vinik initially met the DreamIt team in New York in 2016 and said he was impressed by the level of excellence he saw, including how they vetted companies for their accelerator. DreamIt accelerates and invests in startups that operate in large markets that historically have lagged in innovation, yet make up one-third of the United States’ gross domestic product, the company said. “The idea is to make the Tampa Bay region more attractive to the best and brightest young people, so they want to stay here when they graduate from local colleges. And we want to import outstanding talent because this is a great place to be,” Vinik said. “We have to give to smart, innovative creative people a reason to want to be here.”
“Vinik Invests $12M In Tech Accelerator Dreamit”Tampa Bay Business Journal

Tampa’s Long Real Estate Recovery

The current real estate cycle, even in a thriving market like Tampa Bay, is a little long in the tooth. But there are still reasons for optimism — and a few headwinds as well. Feldman Equities President and CEO Larry Feldman said he lived through three commercial real estate downturns before 2008. This recovery is not quite like any of the others, as far as the office market is concerned. Feldman said the two biggest constraints are the construction lending market and the densification of office use. On the residential side, Framework President Phillip Smith said Tampa remains one of the stronger housing performers in the country. Both Feldman and Smith will be speakers at Bisnow’s Tampa Bay State of the Market event March 27 at the The Westin Tampa Waterside.
“The Long Recovery’s Still On Track In Tampa, But With Looming Headwinds”Bisnow

Park Tower Wins Full-Floor Coworking Space

Downtown Tampa’s oldest office tower has landed a full-floor lease with Pipeline, a coworking company with locations in Philadelphia and throughout Florida. Pipeline said Monday that it will occupy the entire 15th floor, or 15,000 square feet, of Park Tower at 400 N. Tampa St. Pipeline, which has locations throughout South Florida, Philadelphia and soon in Orlando, is the most recent in a wave of coworking spaces to enter the Tampa market. Industrious opened a location in SunTrust Financial Centre in late 2017; Office Evolution announced a deal for 7,700 square feet in Westshore’s Lincoln Center. “The Pipeline deal is significant for downtown Tampa,” DiBlasi, Feldman Equities executive vice president for leasing and marketing, said in a statement. “Tampa is joining the likes of Miami in attracting one of the country’s preeminent shared workspace companies to its urban core.”
“Downtown Tampa’s Park Tower Wins Full-Floor Coworking Space”Tampa Bay Business Journal

Tampa Bay Wave Names Alex Sink as Board Chair-Elect

Tampa Bay Wave, Inc. (Wave), a local nonprofit dedicated to helping entrepreneurs build, launch, and grow breakout tech businesses in Tampa Bay, welcomes Alex Sink, American politician and financier, as their newest Board Chair-Elect. Alex Sink brings a variety of executive leadership skills to the Wave board that will be a tremendous aid to the organization’s strategic planning and the clients Wave serves. Sink has extensive board governance experience, serving on boards such as United Way Worldwide Leadership Council, United Way of the Suncoast, Junior Achievement of Tampa Bay, Raymond James Financial, Wake Forest University Board of Trustees and more. Sink has also demonstrated a passion for entrepreneurship as founder of Florida Next, a nonpartisan, 501(c)(3) nonprofit organization, focused on diversifying Florida’s economy through the growth of small businesses and entrepreneurship. Learn more about Tampa Bay Wave and its board of directors.

Pot Tampa Bay Approves Land Deal with SPP

The developer of Water Street Tampa has struck a deal with Port Tampa Bay that gives it control of a surface parking lot next to Channelside Bay Plaza where a new mixed-use building is planned. The port board of directors on Tuesday unanimously approved a sale and land lease agreement with Strategic Property Partners for the Garrison lot, which is at the intersection of Channelside and Beneficial drives. SPP, the real estate company controlled by Tampa Bay Lightning owner Jeff Vinik and Cascade Investment LLC, will pay $9.86 million for a 20,000-square-foot portion of the Garrison lot — the northwest corner of the lot that’s farthest away from the port’s cruise terminals and closest to Channelside Drive.
“Port Tampa Bay Approves Land Deal With Water Street Tampa” Tampa Bay Business Journal

Development and Transportation

City of Tampa and USF Agree to Tackle Transportation Issues

The city of Tampa is partnering with the University of South Florida’s Center for Urban Transportation Research to use educational projects and research to find solutions to transportation problems facing the community. Mayor Bob Buckhorn signed a memorandum of understanding with USF on Tuesday, solidifying the city’s commitment to use innovation to make government more effective and efficient. One of Tampa’s primary challenges in attracting new businesses and the talent to run them is a lack of access to transit and what is becoming stifling traffic congestion. The agreement does not obligate either USF or the city of Tampa to pursue specific partnerships but does stipulate that representatives from each entity meet “on a regular basis” to discuss potential projects as well as strategies to implement and monitor them.
“City Of Tampa And USF Partner To Find Innovative Transportation Solutions”Tampa Bay Business Journal

City of Tampa Releases New Streetcar Plans

The City of Tampa’s transportation department plans to add only one in extension as part of its Streetcar system, but they are looking at three different corridors to see what would be the best option to extend north.  The City of Tampa’s transportation department has released its year-long study on one way to try and fix downtown traffic jams. For the past year, the city has hosted four public meetings and received public feedback on their streetcar system and ways to expand it. The plan is to expand the TECO Streetcar as part of their InVision approach to transforming Tampa’s transit. City leaders say they are heading into the second phase of the study, which they hope to have approved by Summer. If they can expand the streetcar system they think it could link to future mass transit systems.
City Of Tampa’s Plans To Expand The Streetcar System To Fix Downtown Tampa’s Traffic” ABC Action News

Water Street Tampa Grabs More Land

The developer of Water Street Tampa now controls a surface parking lot that’s critical to linking Water Street’s waterfront real estate with the rest of the $3 billion neighborhood. Port Tampa Bay on Tuesday approved land-lease and sales deals with Strategic Property Partners for the Garrison lot, the surface parking lot that sits at Beneficial and Channelside drives and directly west of Channelside Bay Plaza, the long-struggling waterfront entertainment and retail center. SPP has plans for a mixed-use development on the Garrison site that will take shape over the next 18 months, now that a deal has been secured with Port Tampa Bay. Still in the conceptual phase, that development could include two residential towers — midrise or high rise, SPP director of development Bryan Moll said, with anywhere from 350 to 500 total residential units.
“Controlling The Garrison Lot Next To Channelside Bay Plaza Is Crucial For Water Street Tampa. Here’s Why.”Tampa Bay Business Journal

TBARTA Awarded $1M

On Friday, March 16, Governor Rick Scott signed the $88.7 billion Securing Florida’s Future budget for 2018-2019, which included $1 million in funding for the Tampa Bay Area Regional Transit Authority (TBARTA) to create the Tampa Bay region’s first Regional Transit Development Plan (RTDP). The TBARTA RTDP will fit within an overlapping and coordinated transit planning process, which will also include the Regional Transit Feasibility Plan that will determine that regional transit catalyst project for the three-county Transportation Management Area (TMA) of Pasco, Pinellas, and Hillsborough Counties. The RTDP will also encompass the regional transit priorities of Hernando and Manatee Counties and address how their regional connectivity fits into the regional transit system cohesively. Read the full press release.

Member Corner

Hillsborough EDC Names New COO

The Tampa Hillsborough Economic Development Corp. has promoted Michelle Bauer to chief operating officer. Previously, Bauer was chief marketing officer. In her new role, she will report directly to Craig Richard, president and CEO of the EDC, according to an announcement from Richard on Friday. In her new role, Bauer will provide leadership and operational oversight of the organization, according to a statement. In addition she will direct strategic initiatives and special projects, overseeing all marketing department functions, managing strategic partnerships, developing operating policies and leading the development of the organization’s legislative communications and outreach.
“Tampa Hillsborough EDC Promotes Bauer to Chief Operating Officer”Tampa Bay Business Journal

Suffolk’s New Technology in Construction

Along the Hillsborough River, the walls of the new Manor Riverwalk development slowly rise. Seeing it now, bare concrete and hovering cranes, it’s hard to connect to the polished, landscaped models. Enter the CAVE (Computer Aided Virtual Environment) – national building contractor Suffolk’s virtual reality space that allows clients like Related Group, developers of Manor Riverwalk, to “step inside” a three-dimensional, visual representation of the project. The height of the ceiling is more than a measurement in a blueprint; it’s visible over your head. The CAVE is just one component of Suffolk’s new “Smart Lab,” a tech-driven construction “control tower” opening at its almost year-old Tampa location in Channelside on March 29. The technology’s goal is make the building process, design to completion, more efficient, more cost effective and more collaborative.
Suffolk’s ‘Smart Lab’ Brings New Technology to Construction Projects”Tampa Bay Times

HART Public Meeting

The Hillsborough Area Regional Transit Authority (HART)  will hold a public hearing on Wednesday, March 28, from 6:30 p.m. to 8:30 p.m. at the New Tampa Regional Library, located at 10001 Cross Creek Blvd., Tampa, FL 33647 to seek input about the proposed new 275LX route serving Wesley Chapel, University area, Downtown Tampa and Tampa International Airport. This hearing will allow HART to connect with transit riders and the community on three possible options for the new limited express route that will replace the existing  51LX utilizing the funds provided by the Florida Department of Transportation’s (FDOT) Urban Corridor grants.

AIA Tampa Bay Hosts Golf Tournament

AIA Tampa Bay hosts the 8th Annual Golf Classic on Friday, May 11 at the Eagles Golf Club to benefit the AIA Tampa Bay Scholarship Fund. Sponsorship opportunities are available. Register online. The scholarship aims to attract new students and to support continued studies of outstanding students in the school.

Around Town

Interest Increases in Industrial Real Estate

When a team of brokers from Cushman & Wakefield of Florida Inc. listed a massive warehouse in Lakeland for sale, they expected a good amount of interest — Lakeland’s industrial real estate market has been in the national spotlight for years. But even they were surprised by the interest in CenterState Logistics Center, a 605,412-square-foot warehouse north of the Interstate 4 and State Road 33 interchange. It sold in mid-March for $59.6 million or roughly $98 per square foot to Griffin Capital Essential Asset REIT Inc. of Los Angeles. Among the more than 20 offers Cushman received on the property were international buyers, real estate investment trusts and pension funds. The warehouse broke ground on a speculative basis but landed a lease with a Gatorade distributor before construction wrapped up.
“Big Lakeland Warehouse Deal Could Drive Even More Interest in Industrial Real Estate”Tampa Bay Business Journal

Plan Your Outdoor Adventures in County Parks

Spring is a great time to get outside and explore! Among 80,000 acres of Hillsborough County conservation areas, nature preserves, and trails, some facilities stand out for reasons you may find surprising. Read a full list compiled by Hillsborough County Conservation & Recreation Lands Management, including; most unusual, best place to see reptiles, most remote, best paddling, newest, best sunsets, smallest, most refreshing place to swim, best place to birdwatch, most challenging bicycle trail, best place to ride horses, and best kept secret. Hillsborough County’s Conservation & Recreation Lands Management has many other places to discover and enjoy. Find your niche and get out there!

Jabil Plans $67M Renovation

Jabil plans to invest an estimated $67.3 million expanding its corporate headquarters in the Gateway area of St. Petersburg, according to Pinellas County records. The project, announced in February, is expected to include $52.2 million in new construction and renovations, $12.3 million in equipment and $2.8 million to buy real estate. Once complete, the expanded headquarters should have room for 300 more new full-time jobs and the addition of an innovation lab for the electronics manufacturer, which is based in St. Petersburg with operations at 100 sites in 29 countries. Construction on the innovation lab, which is planned for the old Tampa Bay Research Institute building, is expected to begin in May and be done by the end of the year.
“Jabil Plans to Spend $67 Million Remaking Its Headquarters In St. Petersburg’s Gateway Area”Tampa Bay Times

Lucky’s Market Set to Open in St. Pete

Lucky’s Market, the organic grocery store that mixes a heavy emphasis on discounts with high-end touches like an in-store ramen bar, will open this summer in St. Petersburg’s Tyrone Square Mall. Colorado-based Lucky’s, which is backed by grocery behemoth Kroger Co. (NYSE: KR), said Tuesday that it is planning a summer 2018 opening in a new store where the Sears anchor box once sat. Dick’s Sporting Goods, which also took a portion of the Sears space, recently opened. The St. Pete location is 29,000 square feet — roughly the size of the Sprouts Farmers Market Inc. stores that have opened in the area recently — and will employ 150 people.
“Kroger-Backed Lucky’s Market Gears Up For St. Pete Opening”Tampa Bay Business Journal

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Monday Morning Memo –Monday Morning Memo is a weekly update of “insider downtown information” regarding developments, transportation, special opportunities and other useful information to help you make the most of downtown. Subscribe to receive this weekly newsletter.

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