$3 billion renovation and revitalization coming to Florida’s Port Tampa Bay area

Port Tampa Bay made a splash last fall with its long-range plan for a $1.7 billion Channelside development featuring urban waterfront parks, a marina and two 75-story residential high-rises.

On May 3, 2016, Jim Brennan, a partner with Capstan Consulting, presented about 80 port stakeholders with an overview of the port’s performance and assets, and a series of easels around Cruise Terminal 6 displayed some of the master plan’s major concepts.

That included up to $1.5 billion in capital improvements, including $324 million to $502 million worth of projects in 2017-2021; $367 million to $578 million from 2022 to 2026; and $472 million to $504 million beyond 2027. That money would come from port and state revenues.

The Channelside project is projected to require about $228 million in public investment, with the rest of the development costs — an estimated $1.5 billion — covered by private investors. The public money would come from port revenues and tax revenues generated within the Channel District.

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