Kettler pushes forward Phase 2 of Gasworx with 516 units and major mixed use expansion in Tampa

• Phase 2 delivers 516 residential units, 108,000 square feet of office, and 58,000 square feet of retail
• Led by Kettler with Darryl Shaw and PPF Real Estate
• Part of a 50-acre, 6 million square foot mixed-use redevelopment

What Phase 2 means for Tampa mixed-use growth

Construction is moving forward on Phase 2 of Gasworx in Ybor City, one of the largest redevelopment projects in Tampa. The eastern parcels will bring three new buildings with residential, office, and retail uses. This phase continues the transformation of Ybor City into a high-density mixed-use district connected to downtown. Large-scale projects like this are reshaping Tampa into a more urban and investment-driven market.

What the residential pipeline means for supply

Phase 2 will deliver 516 units across two residential buildings. Olivette will include 376 units in a 10-story structure, while The Luisa will add 140 units in a five-story building. The Luisa will also include short-term rental units, adding flexibility to the asset. This level of new supply reflects strong demand for rental housing in Tampa, especially in walkable, mixed-use environments.

What office and retail components mean for income

The project includes a six-story office building with 108,000 square feet, which will serve as the headquarters for Grow Financial. Retail space across the sites totals more than 58,000 square feet, including a marketplace and street-level storefronts. A grocery tenant has already been secured. This mix creates multiple income streams and supports daily foot traffic, which is critical for long-term performance.

What placemaking and infrastructure mean for value

Gasworx is not just a building project. It includes major infrastructure such as a new public park, pedestrian retail corridor, and a streetcar extension. These features improve accessibility and create a destination environment. Walkability and transit access are key drivers of value in modern developments. This type of planning helps support both residential demand and retail performance.

What timeline and phased delivery mean for investors

Olivette and The Luisa are expected to be completed in 2027, while other components of the district are already open and leasing. Earlier phases have delivered hundreds of units, showing that the project is progressing steadily. Phased delivery allows developers to manage risk and respond to market conditions. This approach is common in large-scale developments where timing and absorption are critical.

What this means for Florida investors

Gasworx highlights the continued growth of Tampa as a major target for mixed-use investment. With strong population growth and increasing demand for urban living, projects like this are setting new standards for scale and design. For investors, large master planned developments offer long-term upside through multiple income streams and phased value creation.