ZOM Living, one of the nation’s leading multifamily development firms, along with partner MetLife Investment Management, has secured approximately $63 million in construction financing for MetWest Residential, a luxury multifamily development in the Westshore District of Tampa, Florida. The eight-story, 375-unit multifamily project will also add approximately 3,000 square feet of prime retail space and a six-story parking garage to the MetWest International mixed-use development.
MetWest Residential will rise on the northwest parcel of MetWest International and complete the NAIOP and BOMA award winning mixed-use, live-work-play development. The high-profile mixed-use development spans 30 acres and is home to 1 million square feet of Class A office space, a 175-room AC Hotel by Marriott, and 56,000-square-foot retail village with high-profile tenants such as Texas de Brazil, Kona Grill, Cooper’s Hawk Winery & Restaurant, Del Frisco’s Grille, Starbucks, Beal Bank, GOLFTEC, and more. The development is near International Plaza and Bay Street, a two-story regional shopping center with an adjacent outdoor lifestyle center that features over 200 specialty and department stores and 16 restaurants, and the Tampa International Airport.
“The ability to secure financing for this project is a testament to the demand we are seeing in Tampa for premium-quality rental housing with robust amenity offerings, which our residential projects in the region are helping to meet,” said Kyle Clayton, Senior Vice President of ZOM Living. “Tampa is seeing healthy growth in all directions from its urban core to key suburban markets, and we are excited to be part of this growth bringing to the area a residential project located in one of the most prominent mixed-use developments in Tampa today.”
ZOM Living has been developing in Tampa for more than 30 years, with over 15 projects in the region, including two recent multifamily developments: Azola South Tampa and Azalea Apartments. Azola South Tampa is a 214-unit, luxury garden-style community located on 9.31 acres situated in Westshore, and Azalea Apartments is comprised of 289 luxury rental units on a 13-acre site in the Brandon neighborhood, near Tampa’s booming urban core. In late 2019, ZOM also opened the luxury waterfront apartment community of Seazen Rocky Point Apartments, located near the MetWest Residential project, featuring 323 units on the island of Rocky Point and boasting 750 linear feet of direct waterfront on the pristine Tampa Bay.
