TAMPA, Fla. (WFTS) — Tampa officials, housing advocates and private developers celebrated the groundbreaking of Residences at East End Wednesday. The City of Tampa calls it part of an ongoing effort to address rising rental costs and housing shortages that have left thousands of residents struggling to find affordable homes.
The 174-unit development will offer affordable housing for families earning between 22% and 80% of the area median income. For a family of four, that translates to roughly between $32,000 and $83,000 annually. Income levels that have been particularly squeezed out of Tampa's rapidly appreciating housing market.
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"Breaking ground on the Residences at East End marks another critical step in our commitment to creating a more inclusive and equitable Tampa," Mayor Jane Castor said. "This part of Tampa has long faced a shortage of quality, attainable housing, and this project brings real, lasting solutions for families who deserve the opportunity to live in safe, vibrant neighborhoods."
The project represents another public-private partnership between the City of Tampa, Tampa Housing Authority and Related Urban Group that required years of planning, multiple funding sources and extensive regulatory approvals to bring to fruition.
Of the 174 two-bedroom, two-bathroom units, 43 will receive Section 8 Project-Based Vouchers from Tampa Housing Authority, providing the deepest level of affordability for extremely low-income residents. All of the units will be priced based on residents' area median income levels, creating a mixed-income community.
The development will include five residential buildings designed to blend seamlessly with the surrounding neighborhood while providing modern amenities typically found in market-rate developments. Planned amenities include a dog park, picnic areas, fitness center and pocket park.
One notable environmental feature of the development is the preservation of more than 80 existing mature trees on the property. These trees will provide natural shade and recreational space for residents while maintaining the area's established character.
"When people move in, they will have these beautiful trees that not only will be aesthetically pleasing, but will also provide shade and a place for the kids to play," Castor said.
Related Urban Group brings extensive experience in affordable housing development to the project. The company, led by CEO Jon Paul Pérez and Related Urban President Alberto Milo Jr., has delivered more than 1,200 affordable housing units in Tampa through previous partnerships with Tampa Housing Authority.
"We strongly believe that a city can't be great unless you incorporate all types of housing," Pérez said. "We want inclusive types of cities. The worst thing is when you just develop luxury, and then the people who are really living and breathing and working in the cities can't live in these cities because they're changing so much."
The development's location in East Tampa was chosen strategically to provide residents with access to employment opportunities, fresh food sources and public transportation. A bus stop located just a four-minute walk from the property will offer transit alternatives for residents, potentially reducing transportation costs and car dependency.
"What's most important is what's going to come out of this project," Feeley said. "The mayor's vision for providing affordable housing is not only providing spaces, it's really providing places."
The proximity to jobs, services and transit aligns with best practices in affordable housing development that emphasize reducing residents' overall cost burden beyond just housing expenses.
The Residences at East End addresses a significant and growing housing shortage in Tampa. City officials estimate Tampa needs approximately 26,000 affordable housing units to meet current demand, a number that continues to grow as the city attracts new residents and businesses.
Housing prices have increased by nearly 175% in some areas as Tampa has become one of the fastest-growing cities in the United States. The rapid growth, while economically beneficial, has created challenges for existing residents and workers who find themselves priced out of neighborhoods they've called home for years.
"We have to ensure that the individuals that help build our city and help make Tampa successful are not pushed out by these higher prices," Castor said.
The mayor acknowledged that even if the city could immediately deliver all 26,000 needed affordable units, demand would likely continue to exceed supply as Tampa's growth continues and economic conditions change.
"If we brought on 26,000 units today, there'd be a wait list tomorrow, because people are still moving to our city," Castor said. "And as the prices rise, and as we see unemployment rising, then people who haven't had the need for affordable housing in the past may have it tomorrow."
A crucial aspect of the Residences at East End is its 99-year affordability commitment, ensuring the units will remain affordable for generations. This extended timeline represents a significant improvement over previous affordable housing developments that often reverted to market rate after 30 years.
While the groundbreaking ceremony marked the visible beginning of construction, significant infrastructure work has already been completed on the site. The development required extensive underground infrastructure, including what Pérez described as "underground lakes" for stormwater management.
"I've never seen we do a lot of three-story product, and usually you just provide lakes, and these are underground lakes," Pérez said. "So this not only takes more time, but also has a lot of cost."
The infrastructure work, while not visible to casual observers, represents months of preparation and significant investment in ensuring the development meets modern standards for utilities, drainage and environmental protection.
Construction is expected to be completed by the end of 2026, with Milo promising to beat the scheduled timeline.
While city officials and developers celebrated the groundbreaking, some housing advocates expressed concerns about whether the income requirements truly serve the community's most vulnerable residents.
Robin Lockett, regional director of Florida Rising, questioned whether units targeted at 80% of area median income truly qualify as affordable housing for East Tampa residents.
"What they constitute as being affordable isn't affordable to the average person," Lockett said. "The 80% AMI now, right now, is market rate."
Lockett suggested that developments in East Tampa should focus more heavily on lower AMI percentages, particularly 30% to 60% AMI, to better serve residents whose average income may be around $20,000 to $25,000 annually.
The City of Tampa shared this chart breaking down how the AMI will be split among units.
Beyond new construction, advocates like Lockett are pushing for additional measures including rent stabilization policies, landlord registries and stronger tenant protections. However, state legislation has limited some local housing policy options.
"We fought a couple years ago for rent stabilization. Tallahassee got wind of it, put a cap on it for 10 years. We can't do it," Lockett said.
The success of the Residences at East End partnership could serve as a model for future affordable housing developments in Tampa. The collaboration between city government, housing authority, private developers and financial institutions demonstrates the multi-stakeholder approach necessary for affordable housing development.
The Residences at East End represents the eighth partnership between Related Urban Group and Tampa Housing Authority, with a ninth project at Rome Yard already under construction. Rome Yard will add nearly 1,000 additional mixed-income units to Tampa's housing stock.
The city purchased the East End property in 2019 using HUD Community Development Block Grant funds for just under $500,000 with the specific intention of developing affordable housing. The land acquisition was part of a broader strategy by the Castor administration to proactively secure sites for affordable housing development before land prices escalated further.
After acquiring the property, Tampa issued a request for proposals and selected Related Urban Group's partnership with Tampa Housing Authority. The selection process prioritized developers with proven track records in affordable housing and commitment to long-term affordability requirements.
"Projects like these have to then go on and get financing, and that financing included making an application to the state SAIL program, and we partnered in that with a match of an additional $75,000 that went into this project," said Abbye Feeley, administrator for the city's Development and Economic Opportunity department.
Funding for the $43 million construction project came through multiple sources, demonstrating the intricate financial engineering required for affordable housing developments. The largest contribution came from Florida's State Apartment Incentive Loan program, which provided $9 million, with the city providing a required $75,000 local match.
Fifth Third Bank emerged as a crucial financial partner, providing $43 million in construction debt financing while also investing approximately $31 million in tax credits. The bank's involvement represents part of its broader $20 million commitment to East Tampa community development, which it has now exceeded.
"We're delighted to be a part of this and to see this come to life," said Scott Daigle, Fifth Third Bank's regional president. "Fifth Third has been committed to the East Tampa community dating back to 2009 when we opened up a branch on Hillsborough Avenue."
Raymond James, the Tampa-based financial services company, served as the tax credit syndicator, helping structure the complex financing arrangements that make affordable housing developments financially viable.
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