Citrus Park Crossings is a story of a great partnership triumphing over the obstacles of a down market. The three-story Class A office building was to be the first in a mixed-use commercial planned development in Tampa, Florida. Citrus Park Investors (CPI) had started the development process with different partners, but the project stalled in 2008 as the market took a downturn.
When Ryan was called in to help, we could see that the project demanded a flexible approach. As the first and only spec office developed since the recession hit, Citrus Park Crossings was a huge financial risk. But Ryan has a history of taking on projects when no one else will, and we were able to bring our full-service approach to the table and see it through. With CPI acting as a construction consultant as well as a development partner, we devised a strategy to support them while complementing their strengths. Solving the riddle of how to get the project through permitting was a joint effort, requiring us to tap the team’s collective local knowledge and strong citywide relationships. Ryan stayed responsive as the building moved ahead, working in phases as each part of the zoning came through.
CPI’s wealth of knowledge about the local market was essential when it was time to lease the space, and it was rewarding to see this once-stalled development fill up with tenants. The result is a thriving Class A multi-tenant office building that’s over 95 percent leased; the first in Tampa in many years. The project received an Award of Merit by the Hillsborough County Planning Commission—recognized for its trails and transit access, contribution to job growth, creative investment equity and green building features