The Tampa Hillsborough Expressway Authority is looking for a development partner for a small, strategically placed piece of downtown Tampa, and the timing lines up with Water Street Tampa's push north. If a deal comes together, the authority's land at Meridian Avenue and Whiting Street could link Water Street, downtown, the Channel District, Gas Worx and Ybor City.

"You could literally walk from Water Street on the Meridian Health Trail to Gas Worx," THEA Executive Director and CEO Greg Slater said on Episode 161 of the TBD Podcast.

Water Street's next phase moves to THEA's doorstep

In July, Strategic Property Partners filed plans for a 33-story residential tower of roughly 400 feet on a 1.9-acre site at Water Street and Cumberland Avenue. SPP is the Water Street Tampa developer backed by Bill Gates' Cascade Investment. The tower would hold 452 rental apartments, from studios to three bedrooms, plus about 37,000 square feet of ground-floor retail and 645 parking spaces.

The design team:

• Nichols Architects, architecture

• MAWD | March and White Design, interiors

• OJB Landscape Architecture, landscape

• Stantec, public spaces

• Kimley-Horn, civil engineering

Moss is the general contractor. SPP expects to break ground in spring 2027 and finish in late 2029. The plans go through the city's design district review, which city staff decide without a Tampa City Council vote.

SPP is also building a separate mixed-use parking garage at the northwest corner of Water Street and East Cumberland Avenue, designed by Gensler. SPP's project listing shows 675 parking spaces and 38,000 square feet of street-level retail, with completion expected in 2028. Earlier plans described a signature rooftop area and green space along Water Street for open-air markets and concerts. SPP first planned a build-to-suit office tower on the site, then decided parking was the more pressing need.

The two buildings kick off Water Street's second phase. SPP says the phase is nearly $1 billion of investment and more than 2 million square feet of development. The buildings carry the district north of Cumberland Avenue and put new apartments, shops and public streets right next to THEA property.

"Water Street Tampa has always been guided by a long-term vision, and that vision continues to evolve as the neighborhood grows and matures," SPP CEO Josh Taube said when the tower was announced.

What THEA is putting on the table

THEA's downtown land is what's left over from decades of expressway and freight infrastructure. On June 25, the authority issued RFQ E-0326, "Real Estate Development Opportunities," for two sites.

The Meridian Site is about 1.41 acres of undeveloped land on the west side of South Meridian Avenue, where East Whiting Street meets North Brush Street. The RFQ describes it as next to current and future phases of Water Street Tampa. It is zoned CBD-2, which has no formal height or FAR cap. Ten percent of the site must be kept as open space.

The THEA Office Site is about 1.42 acres at 1104 East Twiggs Street, on the northern edge of the Channel District near Ybor City and Tampa Union Station. It holds the authority's 27,727-square-foot headquarters and its Traffic Management Center (TMC). THEA says it is open to redevelopment that moves its headquarters. A replacement would need about 20,000 square feet, including a boardroom and a TMC control room. THEA also has to keep operating without interruption during any move.

Developers can propose building on either site or both. THEA will consider a long-term ground lease, which could include base rent, percentage rent, participation and reversion terms, or a fee simple sale. Respondents don't have to pick a structure at the RFQ stage.

Next to the Meridian Site is a larger, irregularly shaped 5.79-acre tract that once carried railroad tracks. THEA owned the rail spur that served the Ardent Mills flour mill, which was built in 1938 and left downtown in 2022. SPP bought the mill property itself in 2018 for $13 million, according to the Tampa Bay Times, and it is now part of Water Street's expansion.

After the mill moved, THEA removed about 3,600 linear feet of track in a project estimated at $20 million. That kept a promise THEA made to the city in 2004 to reconnect the street grid. THEA's pre-proposal materials say the former rail tract is not part of this solicitation.

Putting the pond underground

The Meridian Site is classified as lowlands and currently serves as a stormwater pond. According to the RFQ, that function "will be moved underground with the Whiting Extension project at THEA's cost," which frees up the surface for development.

The Whiting Street project is a THEA and City of Tampa partnership budgeted at $90 million over fiscal years 2020 through 2032. It extends Whiting Street east to Meridian Avenue to reconnect the downtown street grid. It also moves Selmon Expressway Exit 6B north onto an improved Whiting Street and adds pedestrian and bicycle facilities. The Business Observer reported in June that construction is expected to start in fall 2028.

A health trail and a mobility hub

The Meridian Health Trail is part of a $2.7 million Meridian Avenue Refresh in THEA's FY26 Work Program, scheduled for fiscal years 2026 and 2027.

• East side of Meridian: new brick pavers, lighting, signage, irrigation and landscaping.

• West side (facing the Meridian Site and Water Street): an improved trail and green space built around what THEA calls a "health-focused trail experience."

The trail would add to a growing network: the existing Meridian Greenway, THEA's 1.7-mile Selmon Greenway under the expressway, and the $27 million 12th Street Park planned between Ybor City and the Channel District.

The RFQ also asks developers to plan for transportation. It calls for:

• docking space for scooters, bikes and other micromobility

• space to process transit passengers

• room for possible future eVTOL facilities

It also asks for connections to the Selmon Expressway, the Selmon Greenway, the Channel District, Ybor Harbor, Water Street, downtown, the TECO Line Streetcar and Tampa Union Station, the area's Amtrak stop.

Neighbors at scale

The RFQ's own numbers show why the location matters:

• Water Street: 56 acres planned for more than 9 million square feet of residential, commercial and hospitality space.

• Gas Worx: a 50-acre district expected to hold about 5,000 residences.

• Ybor Harbor: a 33-acre waterfront project planned for 20 buildings.

THEA's parcels sit where all three meet.

What happens next

This is THEA's second formal step toward developing the land. A Request for Information (E-1925) in October 2024 tested developer interest, with responses due in January 2025. Under the revised schedule posted Sept. 3, the current process runs:

• Oct. 14: Interviews with RFQ respondents

• Oct. 26: THEA board votes on a shortlist

• Nov. 2: RFP issued to shortlisted teams

• Dec. 18: Proposals due

• Jan. 12, 2027: Team presentations

• Jan. 25, 2027: Board approves final ranking and award

The RFQ phase won't produce a contract, and THEA can choose more than one respondent. Slater has led the authority since February 2022 and was previously Maryland's Secretary of Transportation.

Watch Episode 161 of the TBD Podcast to hear Greg Slater explain THEA's plans for this land.