Strategic Property Partners (SPP) announced plans this morning for a privately financed downtown Tampa development featuring a 3,500-capacity live entertainment venue, a hotel, retail space and parking, positioned in a vacant parcel of land across from Benchmark International Arena. Vinik Sports Group (VSG) is partnering with SPP on the project, which expands the Water Street development first begun by SPP and VSG around 2018.
The 56-acre, $3B-plus Water Street project’s first phase was on full display during Tampa’s hosting of the Women’s Final Four earlier this year. But the project thus far had focused on residential, hotel, retail and office space, including four residence towers, three hotels, and a University of South Florida Medical hub.
This latest development is geared solely toward entertainment and hospitality. The smaller, more intimate music venue fills a void in the local market, while the 250-key hotel and 100,000 square feet of retail, dining, and entertainment help establish a fully connected entertainment corridor. SPP plans to break ground on the project in 2027.
VSG was established in 2020 by Jeff Vinik and expanded to include Arctos in 2021 and Doug Ostrover and Marc Lipschultz in 2024. Vinik sold his majority ownership stake but retains governance of the team for three years. VSG founded SPP before selling the company to investment partners, Cascade in 2023.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.sportsbusinessjournal.com ’
