Best Real Estate Deals: Top affordable housing project

BDG Architects' project, The Boulevard at West River, was recently featured in the Tampa Bay Business Journal as one of the top affordable housing projects. The Boulevard at West River is a 473-unit mixed-income community comprised of four 8-story residential buildings, two parking garages, 12,000 SF of amenity spaces, 8,000 SF of retail, and two 3-story townhome-style buildings with thirty-two residential units and a covered parking portico. The Boulevard at West River replaces Tampa’s first public housing development whose exclusively low-income housing renters were isolated from the rest of the community and had limited access to surrounding amenities. Read the full article in the Tampa Bay Business Journal here: https://www.bizjournals.com/tampabay/news/2022/12/16/best-real-estate-deals-top-affordable-housing.html

Best Real Estate Deals: Top affordable housing project

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.