Oct 14, 2026
Two Roads and Pendry Top Out Florida’s First Pendry on Tampa Riverwalk
Pendry Hotels & Resorts and Two Roads Development have topped out a 38-story luxury mixed-use tower at 100 Ashley Drive South, Tampa, featuring a 218-room hotel and 190 condominiums, with completion.
Image via Pendry Residences Tampa
Traded Editorial
- Pendry Hotels & Resorts and Two Roads Development have topped out a 38-story luxury mixed-use tower at 100 Ashley Drive South, Tampa, Florida.
- The project combines a 218-room hotel with 190 for-sale condominiums, with completion expected in 2027.
- More than 80% of the residences are reportedly under contract, with prices starting at $1.7 million.
- The development will include restaurants, retail, a spa, fitness facilities and 14,000 square feet of meeting and event space.
What Pendry and Two Roads Are Building in Downtown Tampa
The joint venture between Pendry Hotels & Resorts and Two Roads Development has reached a major construction milestone on its luxury hotel and condominium tower along Tampa’s Riverwalk. Once completed, the project will introduce Florida’s first Pendry-branded property, combining upscale hospitality with high-end residential living. The 38-story tower will house Pendry Tampa, with 218 hotel rooms and suites, alongside Pendry Residences Tampa, featuring 190 condominiums. Completion is expected in 2027, adding a prominent mixed-use property to downtown Tampa’s expanding development pipeline.
What Buyers and Hotel Guests Will Get
The hotel will occupy the tower’s lower floors, with guestrooms and suites, restaurants, cafes and retail space. Planned hospitality amenities include Spa Pendry, a fitness center and more than 14,000 square feet of meeting and event space, giving the hotel the capacity to serve leisure travelers, business guests and private events. The condominium portion will feature one- to three-bedroom residences ranging from 1,379 to 3,956 square feet, with prices starting at $1.7 million. Residents will have access to a separate residential lobby and lounge, pools, fitness and spa facilities, private dining and social spaces. The project’s reported sales momentum is notable. More than 80% of the residences are under contract, according to the latest project coverage, suggesting substantial buyer commitments ahead of the planned 2027 opening.
What the Project Means for Downtown Tampa Real Estate
The development sits at 100 Ashley Drive South, along the Tampa Riverwalk and near the Selmon Expressway. It is also surrounded by additional residential development, including projects that collectively represent more than 700 planned units, according to the project report. For investors and landlords, Pendry illustrates how branded residences and luxury hospitality can be combined to create multiple revenue streams within one property. Hotel operations, condominium sales, restaurants and retail can each contribute to the broader project, although their performance depends on market demand and operating costs. The project also adds to downtown Tampa’s growing collection of residential and hospitality developments. As more residents and visitors move through the Riverwalk district, nearby restaurants, retailers and commercial property owners could benefit from increased activity.
Who Is Behind the Development?
Two Roads Development is leading the project in partnership with Pendry Hotels & Resorts. Arquitectonica is the general architect, Studio Munge is responsible for interior design, and Coastal Construction is the general contractor. The tower’s topping-out marks a major construction milestone, but the remaining work will determine whether the development stays on track for its 2027 delivery. For Tampa investors, the combination of luxury branding, waterfront positioning and strong reported condominium commitments makes Pendry a significant project to watch.