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Article Courtesy of The Tampa Bay Times
By Richard Danielson
Published May 28, 2018
TAMPA — A lawsuit over the mix of residences and offices in the planned $350
million Riverwalk Place tower has been dropped.
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Last August, Riverwalk Tower Investment-Intown LLC, which
had been expected to be one of the developers in the
project, filed suit in Pinellas-Pasco Circuit Court against
Feldman Equities LLC and two other companies involved in the
project.
THE DISPUTE: Developers spar over whether
Tampa’s planned Riverwalk Tower should have more residences
Intown contended that it was to handle residential
development within the tower, while Feldman Equities handled
the office development. Instead, according to the suit,
Feldman Equities president and chief executive Larry Feldman
tried to push Intown executive Greg Minder out of the
project.
On May 11, Intown dismissed its claim. Terms of the
settlement were not disclosed. Contacted Friday, Minder
declined to comment.
"The parties have amicably settled this matter and have
withdrawn all legal claims related to this case," Feldman
said in a statement. "Riverwalk Place is a transformative
project that will change the skyline of Tampa and
dramatically enhance the downtown area for everyone. We look
forward to its success."
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Riverwalk Place is proposed for the former site of
the failed Trump Tower project of the 2000s. It would have more than
50 stories of offices, restaurants and stores, plus, on its highest
floors, about 240 high-rise condominiums.
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Last month, when Feldman and his new partners from Two Roads Development in
South Florida unveiled a sleek design for the tower, which is planned on the
site of the failed Trump Tower project of a decade ago, a reporter asked
whether the Intown lawsuit could have any impact on their ability to move
forward.
None, Feldman said.
"In big commercial developments, there’s always a likelihood that there’s
going to be some litigation," he said then. "As you can imagine, the Two
Roads folks are committing millions of dollars of their own money. GBP
Capital (Holdings LLC of New York) is committing millions of their money.
I’m committing my money. We would not be doing this lightly if we thought
that this litigation were in any way a threat to the project. There is no
stopping power from that litigation. The project’s going ahead, full steam."
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