Best Real Estate Deals: Top Affordable Housing Project

Devonta Davis and Alexis Muellner - Tampa Bay Business Journal | Dec 16, 2022

West River redevelopment - AERIAL INNOVATIONS

Honoree: West River redevelopment

About the deal: The 44-acre North Boulevard Homes was the first public housing development in Tampa, developed from 1940 to 1960. Over 80% of the area is owned by large institutional organizations - Tampa Housing Authority, the city of Tampa, Hillsborough County, Hillsborough County Schools, and the Department of Transportation. In partnership with the master developer Related Urban Group, the city has replaced the existing development whose exclusively low-income housing renters were isolated from the rest of the community and had limited access to surrounding amenities.

• Developer: Tampa Housing Authority in a 50/50 partnership with Related Urban Group
• Lenders: Bank of America for The Renaissance, The Boulevard Towers 1, 2 & 3, The Boulevard Tower 4, The Villas. The Canopy Phase 1; Fannie Mae for Mary Bethune Apartments
• Legal Team: Saxon Gilmore, Stearns Weaver
• General Contractors: The Renaissance (DPR), Mary Bethune Apartments (Hennessey Construction), The Boulevard Towers 1, 2 & 3 (Suffolk Construction), The Boulevard Tower, The Villas and The Canopy Phase 1 (Barr & Barr Construction)
• Date Occupied: October 2021
• Design Challenge: Navigating through this network of community attributes was a bit challenging in ascertaining a unified mindset toward satisfying the needs of everyone, the city said.
• Fact: The West River project provides an opportunity to rebuild and reconnect the community to the river.It provides over 1,700 new residential units, and mixed-use developments with various affordable housing styles.