Stetson University, Bromley Cos. Partner on Tampa Mixed-Use

Stetson University is joining the higher education trend of investing in mixed-use districts, with the redevelopment of its Tampa Law Center.

Stetson is partnering with New York-based Bromley Companies on plans to develop 670 apartments, 300 hotel keys, 37,500 square feet of retail space and 440,000 square feet of office space, along with a new law center, on the 6.5-acre site in the Tampa Heights district, according to ConnectCRE.

Stetson University acquired the property from the City of Tampa in 2002, according to the Tampa Business Journal. It was previously the site of the Tampa Heights police station.

The university’s plans for its Stetson University College of Law satellite coincide with a national trend of higher education investing in real estate development to add revenue streams while creating student villages. Another example is the University of South Florida’s $268 million, 27-acre “Fletcher District,” which is under construction on its Tampa campus.

The Stetson project requires rezoning approval from the Tampa City Council. If approved, the development would be built in three phases, a news release said. Construction is expected to start late next year. About 1,000 students are enrolled across all of the university’s law campuses. The existing Tampa law center will be torn down after the new one is built.

Bromley Companies, led by Nicholas Haines, is the developer behind Midtown Tampa, a 22-acre development between the Westshore and Downtown districts. It includes 1.8 million square feet of mixed-use development across office buildings, residential units, a hotel and public spaces. It opened in March of 2021.

The Tampa Law Center project comes as a flurry of mixed-use developments hit the city’s pipeline.

The Pérez family’s Related Group started construction last week on an $800 million mixed-use development called Manor Riverwalk in downtown Tampa, WTVT reported. The project will include 1,200 residential units and 37,000 square feet of retail space.

Also last week, Third Lake Partners closed on its purchase of the 54-acre WestShore Plaza for $135 million, paving the way for the redevelopment of the mall into homes, shops, offices and restaurants, WTSP reported.

Other major projects include Gasworx, Kettler and Darryl Shaw’s 50-acre redevelopment at the edge of Ybor City, and Kolter Urban’s ONE Tampa, a 42-story luxury condominium.