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Demolition of century-old building
The GTE building was known by longtime Tampa residents as the old Tampa Tribune building, but now it’s making way for something new. FOX 13’s Aaron Mesmer reports.
TAMPA, Fla. - A piece of Tampa history is coming down as demolition crews recently began tearing apart the Wallace Stovall building in downtown Tampa, better known to generations of residents as the old Tampa Tribune building.
The structure at 601 North Ashley Drive most recently operated as the GTE building, but its roots stretch back nearly a century.
Role in Tampa's early growth
What we know:
Demolition work began last week on the longtime downtown landmark, which historians say was tied closely to Tampa’s growth during the early 20th century.
Rodney Kite-Powell with the Tampa Bay History Center said the building was originally owned by Wallace Stovall, publisher of the Tampa Tribune newspaper.
Courtesy: Hillsborough County Library System
"It was owned by the publisher of the Tribune, Wallace Stovall, which is where the building gets its name," Kite-Powell said.
Florida’s 1920s land boom
Timeline:
Kite-Powell said the building was first constructed as a brick structure during the height of Florida’s land boom in the 1920s.
"It was the Florida land boom, which started in Miami in the early 1920s, but certainly came to Tampa by 1923 or 1924," Kite-Powell said. "And so, it's where we get so many neighborhoods that we think of today."
The building was significantly altered in the 1970s, when developers removed part of the lower structure and added a more modern stucco exterior that remained in place for decades.
What they're saying:
Some longtime residents and development observers say the demolition represents both the loss of historic architecture and the continued transformation of downtown Tampa.
Courtesy: Chip Weiner
"My heart weeps for the architecture that we've lost in this city," Garrett Grecco, host of the Tampa Bay Developer Podcast, said.
Grecco said rising property values in the area suggest luxury residential development is likely coming next.
In 2021, the property sold for approximately $20 million before being resold in 2024 for roughly $40 million.
"That tells me the demand for this particular location is very strong," Grecco said. "With those numbers, you would expect [a] condominium component."
Residential surge
Dig deeper:
Downtown Tampa has experienced a surge in residential development over the past several years, with new luxury towers reshaping the skyline.
Grecco said the city has shifted from being primarily a business district to a place where more residents now want to live full time.
"You have this culture shift in the last maybe decade or so where people only would come to downtown to work, and then they would leave," Grecco said. "Now, people want to live downtown. So, the residential projects downtown have been exploding."
Initial concepts from previous ownership groups showed plans for a condominium tower more than 40 stories tall at the site. The project would join other major residential developments in the surrounding area, including the Pendry Hotel and ONE Tampa.
Future plans unclear
What we don't know:
The current owners, Stock Development, have not publicly announced official redevelopment plans for the property.
However, FAA records show the company applied earlier this year for clearance to construct a 540-foot building at the site.
Company representatives have not immediately responded to requests for comments about the future project.
The Source: Information in this story comes from interviews with the Tampa Bay History Center, the Tampa Bay Developer Podcast, property sale records and FAA application filings.