32-story tower, second phase of The Place at Channelside, proposed in downtown Tampa
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jul 26, 2022

A hotel developer who purchased a vacant lot adjacent to The Place at Channelside in 2021 wants to build multifamily units and street-level commercial space on the site.

An entity linked to The Dynamic Group, based in Chattanooga, Tennessee, is asking the city to rezone 940 Channelside Drive to make way for a 32-story tower with 280 multifamily units and 4,555 square feet of street-level commercial space.

The proposal requires a public hearing before Tampa City Council.

The proposal is the second phase of The Place at Channelside; the project's first phase has 245 condominiums and 12,930 square feet of space. The Place opened in 2008, and the original developer sold the majority of its units at a bankruptcy auction. The building operated as a fractured condo until 2018 when the rental units were converted back to single-ownership condos.

The Dynamic Group acquired the half-acre lot for $4.73 million in early 2021.

There are roughly 1,000 units under construction in the Channel district, between UDR Corp.'s project on Meridian Avenue, the redevelopment of the JH Williams Oil Co. property at Twiggs Street and Channelside Drive and Daniel Corp.'s 19-story tower on Twiggs Street. A Connecticut developer has proposed another 532 units along Channelside Drive.