CRA, City of Tampa Break Gound on Affordable Housing Development Along Nebraska Ave.
The East Tampa Community Redevelopment Area (CRA), alongside the City of Tampa and local developer Urban ReWorx are investing in the future of East Tampa with the development of The Vicente, a new 20-unit affordable housing community coming to the Nebraska Avenue corridor.
The project will transform a former car wash site in the V.M. Ybor neighborhood into 20 new affordable rental homes and approximately 950 square feet of neighborhood-serving retail space. The $9.5 million development represents a significant investment in the Nebraska Avenue corridor and will contribute to the continued revitalization of East Tampa.
"This is exactly the kind of investment we want to see in East Tampa, one that creates affordable homes while bringing new life to an underutilized property," said Mayor Jane Castor. "The Vicente shows what we can accomplish when the City, our CRA, developers and community partners come together around a shared goal. We’re building housing while creating opportunities for Tampa residents to live in a neighborhood they can afford and be proud to call home."
The project received funding from the East Tampa Community Redevelopment Area ($3.5 million) and Mayor Castor's Housing Program Funds ($750,000).
"We have to remember that affordable housing is about making sure longtime residents and working families have the opportunity to remain part of the communities they call home," said Councilwoman Naya Young, CRA Board Chair. "The Vicente is a great example of how CRA investment can help turn an underutilized property into something that serves the community for generations to come. We’re proud to be a partner in bringing new affordable homes and neighborhood investments."
The Vicente is being co-developed by Urban ReWorx and the CDC of Tampa, with support from the East Tampa CRA and the City of Tampa Housing and Community Development Division. The partnership reflects a shared commitment to expanding access to quality affordable housing.
"The Vicente demonstrates what thoughtful infill development can accomplish," said Thad Bereday, Partner with Urban ReWorx. "By reinvesting in an underutilized site, we are creating much-needed affordable housing while contributing to the continued transformation of Nebraska Avenue. We are proud to lead this project alongside partners who share our belief in the future of this neighborhood."
"This groundbreaking represents what is possible when community vision, strategic investment, and strong partnerships come together," said Ernest Coney Jr., President and CEO of CDC of Tampa. "The Vicente is about more than bricks and mortar. It is about creating quality housing, supporting neighborhood businesses, and helping build a stronger economic future for East Tampa".
Once complete, The Vicente will provide a mix of one and two-bedroom rental units (two units will be ADA accessible) for those making up to 80% of the Area Median Income (AMI). That is around $73,400 for a family of two or $91,750 for a family of four.