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Real Estate Development

 

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Nehemiah Laundromat: In February 1999, CDC of Tampa completed the rehabilitation of a formerly abandoned full-service Laundromat. The 2,700 square-foot facility has more than 25 washers, 24 dryers, a separate TV room, children's playroom, and a community meeting room. In 2007, the CDC of Tampa sold the Laundromat to a private minority for-profit investor who continues to maintain the business.


east tampa Business Center

East Tampa Business Center: In 1998-99, CDC of Tampa received a $350,000 Inner City Redevelopment Grant from the City of Tampa to purchase and convert an abandoned retail strip center into six (6) small business incubator storefronts. The building is situated in one of the City of Tampa’s Weed and Seed areas and is located in a designated Enterprise Zone. The East Tampa Business Center provides technical assistance and affordable lease space to small minority-owned local businesses. More than 14 jobs have been created by the Center.

 
Chloe Coney Center

Audrey L. Spotford Youth & Family Center: The CDC of Tampa successfully converted an abandoned bar into a 5,000 square foot Youth and Family Center. Completed in 2000 at a cost of $1,226,000, the Center houses a computer lab, conference/training room, workforce development programs, Youth   Family programs, as well as serves as the temporary home of the CDC’s administrative staff and offices.


Suncoast Schools Federal Credit Union

Suncoast Schools Federal Credit Union Retail Branch (formerly the One Stop Capital Center): In 1999, Bank of America donated a 24,000 square foot, two-story former banking center to the CDC of Tampa. After nearly $500,000 in recent renovations, the building now serves as the new home of a Suncoast Schools Federal Credit Union branch – the newest full- service financial institution to locate in East Tampa in recent memory. The CDC of Tampa does retain the leasing rights to the second floor of the building, which is currently being marketed by a professional commercial real estate firm.

 
 
OPen Aior Market Pavcillion East Tampa

29th Street Open-Air Pavilion: The CDC of Tampa received funding under the State’s Front Porch Initiave to develop an open-air market for vendors. Located directly across the street from the Nehemiah Laundromat, another of the CDC’s economic development projects, the Market opened in 2003 at a cost of $250,000.

Osborne Landing Apartments: This project consists of the new construction of 43 units of affordable rental housing for local families. Located at the intersection of East Osborne Avenue and 34th Street, the $4.0 million project was completed in partnership with Bank of America CDC and Greater Miami Neighborhoods (GMN). A portion of the equity financing was provided through low-income housing tax credits that were awarded to the project by the State of Florida and syndicated through Bank of America.

Belmont Heights Homes for Sale  

Belmont Heights Housing Development: In partnership with the Bank of America CDC, the CDC of Tampa successfully completed the development and sale of 25 single-family in-fill homes in the East Tampa community. These three- and four-bedroom homes were completed at a cost of $1.9 million and were sold to first-time homebuyers with incomes at or below 80% of the area median income (AMI), utilizing the state’s SHIP program to provide subordinate mortgage financing. City of Tampa CHDO Single-Family Housing: In 2003-04, the CDC of Tampa completed the new construction of 5 single-family for-sale homes for first-time home buyers earning between 60% and 80% of AMI. The CDC utilized a $591,450.00 CHDO HOME loan from the City of Tampa to complete construction of the 5 units.

Columbus Arms Apartments: The CDC of Tampa purchased a ten (10) unit apartment complex to house local low income residents. The property is managed by a Real Estate Service company.

 
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