Casa Bel Mar, 100-Unit Affordable Housing Complex, Opens Along South Manhattan Ave.
Just 18 months after Casa Bel Mar's groundbreaking, the new affordable housing development will open its doors to Tampa residents this week, providing high-quality housing to hundreds of Tampa's low income residents.
Comprised of one and two-bedroom options, the 100-unit complex was a partnership between the City of Tampa, Hillsborough County, the Tampa Housing Authority and private developers. Of the 100 units, ten will be reserved for individuals transitioning out of temporary housing for the homeless, like Tampa Hope cottages. Five of the ten units are available for direct referral from the city's outreach team.
"Our greatest fear is for the backbone of our city, our workforce, our Tampa natives who have built this city over generations, to be priced out," said Mayor Jane Castor. "We cannot and will not let that happen. This partnership represented an opportunity for an affordable housing initiative that will help ensure safe housing remains attainable for people of all incomes."
Casa Bel Mar is an affordable housing development, serving those individuals at 80% AMI and below. In Hillsborough County, 80% of the AMI is about $53,500. Rents at Casa Bel Mar will range from $895-$1400/month, with tenants paying no more than 30% of their income toward rent.
"The housing price statistics are unsettling," said Housing and Community Development Director Jeff McKittrick. "Since Pre-COVID, housing prices have soared by 60 percent. The median price of a home in 2019 was $263,000. Today, it's $425,000. Casa Bel Mar is just one more example of how our City is tackling the affordable housing crisis head on."
The City of Tampa committed $2 million of Federal HOME Funds for the project, ensuring units in the complex will be accessible at affordable rates for a minimum of 30 years.