Tampa officials selected a development team to redevelop four publicly owned parcels in North Downtown, advancing plans to build 1,150 housing units near North Tampa Street and East Ashley Drive.
The City of Tampa and its Community Redevelopment Agency chose a proposal led by PMG Affordable to redevelop the properties, which include the former Army Navy Surplus Market site.
The development team also includes the Tampa Housing Authority, Bank of America Community Development Company and DuCon LLC.
The proposal outlines 1,150 residential units, with roughly 70% designated as affordable or workforce housing. The city’s request for proposals required a minimum of 800 units.
Mayor Jane Castor said the project focuses on workforce housing in a downtown market where costs continue to rise.
“We can’t overstate the importance of workforce housing in our community,” Castor said in a statement. “Not only will existing neighborhoods benefit from improved connectivity, but this project will create hundreds of affordable downtown homes for teachers, first responders, technicians, service employees and others who make our city great.”
Four North Downtown parcels anchor the redevelopment
The redevelopment centers on four city and CRA-owned parcels between North Tampa Street and East Ashley Drive in the northern section of Tampa’s central business district.
City leaders have long identified the stretch as underused despite its location a few blocks from the Tampa Riverwalk, downtown event venues and major office towers.
The selected proposal outlines a mixed-use development that combines housing, retail space and public open areas.
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PMG Affordable principal Dan Coakley said the development team plans to create a mixed-income community that integrates housing with neighborhood amenities.
“Our goal is to deliver a transformative mixed-income, mixed-use community that enhances quality of life through affordable and attainably priced housing, activated retail and public open spaces,” Coakley said. “As planning progresses, we are committed to collaborating closely with residents and local stakeholders to ensure the project reflects the needs and priorities of North Downtown.”
Transportation changes could reshape the area
The redevelopment also ties into transportation changes under consideration nearby.
An Ashley Drive on-ramp to Interstate 275 sits beside the development parcels. City officials have discussed redesigning the ramp to improve pedestrian safety and strengthen connections between the future development and surrounding neighborhoods.
Those changes would help integrate the project into the downtown street grid and pedestrian network.
Development team brings national and local partners
The selected team combines a national developer with local housing and construction partners.
PMG Affordable is the affordable housing arm of Miami-based Property Markets Group, a national real estate development firm known for large residential projects across major U.S. markets.
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The company launched its affordable housing division in 2019 and reports more than 4,500 housing units in its development pipeline.
The Tampa Housing Authority, founded in 1937, works with public and private partners to expand housing access and serves more than 60,000 families across Florida and the U.S. Virgin Islands.
DuCon LLC is a Tampa-based minority-owned development and construction management firm that focuses on affordable housing, mixed-income communities and urban redevelopment.
City officials said the project remains in early planning stages as the development team begins design work and advances the approvals process.
