Pendry Tampa Tops Out on the Riverwalk Ahead of 2027 Opening

Pendry Tampa and Pendry Residences Tampa, a 38-story hotel and condominium tower on the downtown Tampa Riverwalk, has topped out, completing the building's vertical structure ahead of a planned 2027 opening Florida YIMBY.

What Happened

Pendry Hotels & Resorts and developer Two Roads Development marked the milestone this week Hotel-Online. The tower sits at 100 Ashley Drive South, along the Riverwalk and just off the Selmon Expressway Commercial Property Executive. It will be the first Pendry-branded property in Florida Commercial Property Executive.

"Reaching the topping off of Pendry Tampa brings us one step closer to opening our doors," said Michael Fuerstman, co-founder of Pendry Hotels & Resorts Hotel-Online. Reid Boren, managing partner of Two Roads Development, said the project "marks an important expansion of our portfolio into the Tampa market" Florida YIMBY.

The Project Team and Program

• Developer: Two Roads Development, in partnership with Pendry Hotels & Resorts Florida YIMBY.
• Architect: Arquitectonica, with interiors by Studio Munge Commercial Property Executive.
• General contractor: Coastal Construction Commercial Property Executive.
• Hotel: 218 guestrooms and suites on floors one through 14, with more than 14,000 square feet of meeting and event space, Spa Pendry and a fitness center Commercial Property Executive.
• Residences: 190 condominiums of one to three bedrooms, ranging from 1,379 to 3,956 square feet, with pricing starting at $1.7 million Commercial Property Executive.
• Food and beverage: Clique Hospitality will run a signature restaurant, a modern Mexican concept, a speakeasy lounge and poolside dining Hotel-Online.

Sales and Market Position

More than 80% of the residences are under contract, representing more than $400 million in sales to date Hotel-Online. Residential owners will have their own lobby and lounge, resort-style pools and access to hotel amenities Hotel-Online. Commercial Property Executive noted that several planned or prospective residential projects totaling more than 700 units are located across the street Commercial Property Executive.

None of the sources disclosed a total project cost or construction financing.

Building on the Waterfront

The site presented real technical challenges. Bradley Johnson, project executive for Coastal Construction, said building along the Riverwalk involved a number of construction challenges, including geological and subsurface conditions tied to the waterfront location Florida YIMBY. With the structure now complete, work shifts to the building envelope, interiors and the systems needed to operate a full-service hotel and luxury residences under one roof.

Where Things Stand

With topping out complete, the developers are targeting completion and the hotel opening in 2027 Florida YIMBY. Pendry operates hotels in San Diego, Baltimore, Chicago, Manhattan, Washington, D.C., Park City, Newport Beach and Natirar, New Jersey, and has properties in development in Nashville, Barbados, Punta Mita and Mexico City Hotel-Online.

Implications for Owners, Developers, Contractors and Subs

Interior and finish trades are next. A tower that pairs a 218-key luxury hotel with 190 high-end condos carries a long tail of fit-out work: millwork, stone, tile, specialty lighting, kitchens for multiple restaurant concepts, spa build-out and residential finishes. Subs in those trades across Tampa Bay should expect steady demand on this job through 2027.

Mixed-use towers bring added coordination. Hotel and condo components share structure and core but have different systems, separate amenity spaces and different owners at turnover. That raises the bar for MEP coordination, life safety and phased commissioning.

Presales still drive luxury starts. More than 80% of the condos were under contract by topping out, and the pricing begins at $1.7 million. In a market where some apartment owners are dealing with refinancing pressure, high presale levels remain the clearest path to getting large downtown towers built.

What to Watch

• Progress on the curtain wall and interior build-out over the coming months.
• Sales of the remaining residences.
• The timing of the 2027 hotel opening and residential closings.
• Movement on the residential projects planned across the street.

Bottom Line

Topping out Pendry Tampa puts one of downtown Tampa's most visible luxury projects on track for a 2027 opening, with most of its condos already sold. For the regional construction market, it means a large, finish-intensive interior phase is now underway on the Riverwalk.

Image credit: Two Roads Development, via Florida YIMBY. Image from the source article.

Sources

• Florida YIMBY, "Pendry Tampa And Pendry Residences Top Out Along Downtown Tampa's Riverwalk": https://floridayimby.com/2026/10/pendry-tampa-and-pendry-residences-top-out-along-downtown-tampas-riverwalk.html
• Commercial Property Executive, "Pendry JV Tops Out Tampa Luxury Mixed-Use": https://www.commercialsearch.com/news/pendry-jv-tops-out-tampa-luxury-mixed-use/
• Hotel-Online, "Pendry Tampa Celebrates Topping Off of Hotel and Pendry Residences": https://www.hotel-online.com/news/pendry-tampa-celebrates-topping-off-of-hotel-and-pendry-residences