Tampa-based Sage Partners is nearing completion on Metro 510, a new apartment development project in downtown Tampa.
Located on the north end of downtown, at 506 E. Harrison St., Metro 510 is a 120-apartment development funded by tax credits from the Florida Housing Finance Corporation and a federal stimulus grant, as well as loans from the City of Tampa Community Redevelopment Agency and Bank of America. The renovation and rehabilitation of the historic St. Paul African Methodist Episcopal Church (St. Paul A.M.E. Church) is included in the $45 million project, which converted the site into a 15,000-square-foot community center for the development.
Said to be one of downtown Tampa's first housing developments that is affordable for middle-income professionals, such as nurses, teachers, police officers and restaurant workers, the construction of Metro 510 created more than 500 jobs.
"This is such an exciting project as far as us restoring a historic church and all of the things we're making available for our residents -- it's kind of over-the-top," says Debra Koehler, president of Sage Partners.
The complex itself will feature apartment homes ranging in price from $325 for a one-bedroom to $829 for a three-bedroom, while features include four floors of residential area above two floors of parking, a community garden, a movie theater, a spray park and an outdoor museum devoted to the history of St. Paul A.M.E. Church. The restored St. Paul site will house the development's leasing office, fitness area, computer lab, library and learning and play area for children. Leasing begins at the end of August.
Koehler will be speaking on behalf of Metro 510 on August 30 at the 2011-2012 Tampa Downtown Partnership's Downtown Debriefing Series. The event is being held at the Gandy Room at the Embassy Suites Hotel Tampa Downtown Convention Center, 513 S. Florida Ave. Networking and registration for the event begins at 7:30 a.m. while programming starts at 8 a.m.
To register for the debriefing series, click here.
Writer: Alexis Quinn Chamberlain
Source: Debra Koehler, Sage Partners