A national developer announced ambitious plans Wednesday to build a 70-story, mixed-use residential tower in the heart of downtown Tampa.
If approved, the 740-foot Elliott Towers — at an estimated $650 million — would become Tampa’s tallest building, the release states, with a mix of high-end, luxury residences and hotel/condo units, retail, dining, parking and Class A office space. The tower, if approved, has an anticipated completion date of 2032.
Elliott Development, a branch of Tampa-based The Elliott International Group, says in a release that its grand tower is still in the “pre-development phase.”
The proposed location for Elliott Towers, 815 North Franklin St., is the site of downtown Tampa’s historic Kress Building, which has sat vacant since the department store closed in 1981. The four-story building has been on the National Register of Historic places since 1983, records show. It’s adjacent to Tampa’s vacant, yet historic F.W. Woolworth department store — the site of daily sit-ins in the 1960s that eventually led Tampa officials to join high school and college students and peacefully desegregate store lunch counters throughout the city.
If approved, Elliott Towers would occupy the entire city block along North Franklin Street, records show.
Currently, Tampa’s tallest building is the 579-foot 100 North Tampa tower, located on Tampa Street. Formerly known as the Regions Building, the tower has 42 floors — the same number as the Bank of America Plaza at 101 E. Kennedy Blvd., which stands at a slightly shorter 577 feet.
A rendering of Elliott Towers, a proposed 740-foot, 70-story mixed-use building that would be the tallest structure in downtown Tampa if approved.
Courtesy image
Many pieces need to fall into place before Elliott Development can break ground on its namesake tower, the release says. The company is engaged in discussions with the current property owners about acquiring the site, and is also advancing its architectural design plans, engaging with consultants and building relationships with potential capital partners and investors.
The Federal Aviation Authority is also still reviewing submitted paperwork to clear airspace for the building, which includes detailed engineering submissions and a federal review, the release says. It’s not uncommon for major developments of this scale to first face a rigorous, multi-year review process before construction can begin, Elliott says in the release.
“We’re following the same path that every significant tower in America has followed: feasibility studies, regulatory approvals, design development, financing and eventually construction,” Colton Elliott, Principal of Elliott Development, says in a release. “We’re committed to doing this right, which means being thoughtful and methodical at each stage.”
Elliott, 22, is a real estate agent with Align Right Realty Suncoast who lives in Tampa’s Westchase neighborhood. Originally from Fairfax, Virginia, Elliott founded The Elliott International Group in 2024, according to its website.
If Elliott Towers comes into fruition, it will be the city’s first vertical mixed-use “destination,” the release says.
The first two floors of Elliott Towers would house various retail stores and a grand entrance lobby, while levels three through 12 would offer 1,148 indoor parking spaces.Inside the building, levels 12 through 27 would provide 330,000 square feet of Class A office space while levels 28 through 35 would be a luxury branded hotel. The remaining 39 floors — levels 36 through 67 — will hold Elliott Towers’ 118 high-end residences and two penthouse apartments.
Residents of the building would have access to numerous on-site amenities including a fitness center, spa, private dining options, a rooftop infinity pool and ballroom. The smallest units in the building would be priced at $1.05 million, according to the Elliott Towers website.
While the design of the building is still being developed by architects and “visualization specialists,” Elliott Development says in a release that the tower will take inspiration from the Art Deco era while using contemporary materials and proportions best suited for Tampa’s coastal location. The building will feature a tapered crown, floor-to-ceiling glass panels and premium finishes including travertine, bronze metalwork and warm wood tones.
Developers hope to complete the FAA review process, finalize site acquisition, and advance the design of the building by the end of this year. If that is accomplished, next year will be spent securing necessary local permits and approvals, finalizing capital structure and beginning pre-sales for businesses and residences in the building. Then, Elliott Development could break ground on the project as early as 2027, the release says.
“These are target dates, not promises,” Elliott says in the release. “Development timelines are subject to market conditions, regulatory processes and capital markets. What we can commit to is transparency, rigorous execution and delivering a project that Tampa deserves.”