Triad and Triad II are projects designed to provide Urban Options to developers based on the Central Business District (CBD-1) zoning. CBD-1 zoning allows various projects including but not limited to Hotel, Commercial Office and Multi-Residential. The allowable density for each project type, and as a result the building height, gross area, and stories, is dependent upon the parking. Triad, which is the smaller parcel as shown on the image below as #1, can accommodate 27 – 34 on-site surface parking spaces. Triad II, which is the larger parcel as shown on the image below as #2, can accommodate a structured multi-level parking garage. Triad and Triad II can not only supplement one another’s parking load requirements, but also can lease nearby spaces from public and private lots to increase density development potential per the City of Tampa.
In addition to highly flexible zoning, the property is located in the Tampa Enterprise Zone (TEZ) which allows tax breaks to promote economic development.
The property has easy access to the interstate located just North of Downtown Tampa adjacent to Perry Harvey Park (#3 from image) which will begin construction on a multi-million dollar renovation in the first quarter of 2014. In addition, Encore, an $800 million 40 acre mixed use development that includes multi-residential, commercial office, hotel, retail and restaurants is currently under construction. Residents, Tenants, or Guests of Triad will have the good fortune to benefit from these local improvements as well as other local points of interest including Ybor City, Channelside District, Tampa Bay Times Forum, and the Straz.
With very few remaining large land assemblies in Downtown available, the Triad developments are a great opportunity for developers to maximize density in a marquee location.
For more information MLS# S4722295