Vela Towers - Channelside Back in May, we reported on a commercial property zoned for Highrise going under contract according to LoopNet. We were then given the answers we were searching for through a Rezoning permit filed by Post Road Group, a privately held real estate investment company out of Connecticut. • The developers have officially received the first approval from City Council for a dual tower next-door to the 19-story Daniel Corporation Tower. The two towers would reach 27-stories and 17-stories according to the narrative documents, and host 532 residential units. Around 54 of the units would be delivered as affordable housing, becoming the first Downtown Channelside development out of the 3 major developments to be geared towards affordability. A more recent filing calls for the taller to increase by nearly 10 floors topping out at 36-floors, we shall wait and see the intent of this proposal. • The project’s scope also consists of 8,000 sq.ft of retail/commercial space on the ground floor, making the walkability score increase. A quick reminder that this project will sit along the border of Ybor’s Gas Worx project, next door to the Four Green Fields Brewery, and the 25-acre Banana Docks Development . “The project includes a land-use equivalency matrix to allow for a tradeoff of square footage and uses, to accommodate potential hotel or office use, depending on demand.” Everyone welcome Post Road Group! 🎊