The concrete skeleton at North Florida Avenue and East Zack Street is now more than just an eyesore in downtown Tampa. The partially built X apartment tower, which stalled out around the fifth floor in 2023, is edging toward foreclosure after years of inactivity, its exposed frame a daily reminder of a deal that never quite made it across the finish line.
As reported by the Tampa Bay Business Journal, a lender has moved to foreclose on the loan tied to the project. The Business Journal notes the site has been largely dormant for nearly three years, with work stopping in 2023 and leaving behind a half-finished podium and parking levels.
Developer finances and court filings
Court dockets show that affiliated companies linked to the project filed for Chapter 11 in August 2025, adding a complex legal layer to any attempt to revive construction. Monitoring services that track federal bankruptcy filings list cases for RCM Living and related entities in the Middle District of Florida, a backdrop that lenders and would-be buyers will need to factor into their plans, per Bankruptcy Observer.
What a foreclosure would mean
If the lender prevails in court, the property would likely be sold through Hillsborough County's judicial foreclosure process instead of a private power-of-sale route. Those foreclosure sales are handled online and follow procedures set by the clerk's office and the circuit court, a process that can stretch over several months and is governed by rules outlined by the Hillsborough County Clerk.
Downtown context and next steps
The frozen construction site sits in the middle of a downtown that is otherwise humming with cranes and concrete pours. Other projects in the central business district are pressing ahead, with mid-2026 progress visible at towers such as ONE Tampa, highlighting the disconnect between active work elsewhere and the idle X site. That busy pipeline could attract investors willing to bid on or recapitalize the property, although any deal will have to navigate court schedules, existing liens, and the availability of new construction financing, per recent local coverage by Florida YIMBY.
The Tampa Bay Business Journal reported that neither the developer nor the lenders immediately responded to requests for comment on the foreclosure move. For now, the next formal steps will play out in court filings and in the Hillsborough Clerk's records, and we will keep an eye on those public dockets and local filings as the situation unfolds.
