A new housing community is in the making in East Tampa.
Ground is breaking this month on 13 new homes at the corner of North 34th
Street and East 28th
Avenue in Tampa. Neighborhood Lending Partners (NLP)
and Corporation to Develop Communities (CDC) of Tampa
are starting construction of a new community of single-family houses utilizing the new Florida Minority Impact Housing Fund (FMIHF).
The site chosen by the CDC will eventually be filled with houses from Beacon Homes.
“We wanted to have a large enough parcel of land in East Tampa where we could build and make a substantial visual and economic impact in the community,” says Frank Cornier, VP of Real Estate Development for the CDC of Tampa. “This new development gives a great, affordable opportunity to those that want to purchase a new home in the city of Tampa.”
NLP, a nonprofit multi-bank lending consortium, which provides financing to developers of affordable housing and community revitalization is funding the project. It is doing so through the Florida Minority Impact Housing Fund (FMIHF), which the NLP created. Bank of America and Wells Fargo are the primary supporters of the $3 million dollar fund. The land where the development will be built was purchased from the Tampa Housing Authority
“We’re thrilled to establish the Florida Minority Impact Housing Fund and know that Beacon Homes
will be a wonderful addition to East Tampa and a vital part of the area’s revitalization efforts,” Debra Reyes, Neighborhood Lending Partners President and CEO states in a news release. “Quality, affordable housing should be available to all Florida residents and it is our goal to create those opportunities in as many communities as possible.”
According to Cornier, construction on the new housing community is expected to be completed in less than two years, depending on demand.