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TAMPA, FL-Sarasota-based Alafia River Property Group LLLP has entered into a development contract with the Sarasota-based Garrison Developer Group of Florida for the $180-million, mixed-use Alafia Crossing project.

ARPG has received approvals for the 40-acre project on the Alafia River, which will include a 120-room Holiday Inn, 351 residential units, more than 40,000 sf of retail space, 20,000 sf of office space and 10,000 sf of restaurant space. ARPG has owned the land since August 2005. Garrison Developer Group was selected after developing a master plan for the site. A September groundbreaking is planned for the project, which will be completed in phases. The retail, office and restaurant space will be constructed first following by the residential and hotel space, ARPG COO Larry Bauman tells GlobeSt.com. “Our goal is to have some of the commercial space open by next summer,” he says.

The developers are considering selling the hotel portion of the project, rather than constructing it on their own. They are hoping the hotel will be completed prior to 2009, when Tampa will host the Super Bowl, he says.

Leases and letters of intent are in place for an estimated 30% of the retail, office and restaurant space. Leasing is being handled by Colliers Arnold. “We have restaurants, a day care center and check cashing business,” says Jeff Justice, who is the director of marketing and sales for the project.

The project is located in Hillsborough County with more than 100,000 residents living within a five mile radius of the site. The development is a 10-minute drive to Downtown Tampa and 3.2 miles from open water in Tampa Bay. The adjacent residential development, the Preserve at Alafia Crossing, features more than 1,200 feet of waterfront and a 3,000-foot frontage of a wildlife conservation area.

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