Tuesday morning's news was a long time coming for Ken Stoltenberg.

Stoltenberg, principal of Tampa-based Mercury Advisors, has been working on a grocery store and apartment tower in downtown Tampa's Channel district for years. On Tuesday, Lakeland-based Publix Supermarkets Inc. confirmed the grocery store and Mercury Advisors filed permits for the tower and retail store.

The 37,600-square-foot Publix will be built at the corner of East Twiggs Street and Meridian Avenue (see map below); the 21-story, 323-unit tower will be built on the eastern portion of the site.

Formerly known as Martin at Meridian, the development has been renamed Channel Club. The tower will break ground in February 2016, Stoltenberg said Tuesday, with the Publix to follow.

"Publix won't start until 10 months after that," Stoltenberg said. "We have to top out the building first."

The store and tower will wrap up concurrently in 2017.

Financing had been a struggle for the project, but that's no longer the case. "Everything is in very good order," Stoltenberg said, though he declined to disclose any specifics.

 averaging about $300 per square foot.

The other half will be put up for sale in early 2016.

Tampa Bay Lightning owner Jeff Vinik said recently that his real estate company, Strategic Property Partners, is concerned about a potential oversupply of downtown apartments. The first phase of SPP's $2 billion mixed-use district — between the Channel district and central business district — is slated to include 1,000 residential units.

Stoltenberg said he doesn't see any issues with leasing up the Channel Club.

"The reason I don’t is because you didn’t see any multifamily or development in the Channel district or downtown from 2008 'til 2013," he said, "so you had five or six years where you had no product [being built], so there's a lag."

The Publix, he said, will likely draw more potential residents to the neighborhood.

"I think that’s going to be very popular," he said, "and people who hadn’t considered living downtown will look at moving to the district.