Six years after it launched its project to bring affordable homes to our community, the City of Tampa will unveil the third phase of its Infill Housing Program. Eighteen lots will be awarded during Phase III, including some for multi-family housing.
Through this program, the City of Tampa awards residential lots to a qualified developer or non-profit. In return for receiving the lot at no cost, the developer must build and sell the home to an income-eligible home buyer.
Yielding up to 37 units in this third phase of the program, the lots are located in the East Tampa and Central Park areas, and will join the first phase, which consisted of 95 homes, and the second phase, which created 17 affordable, single-family homes.
“With housing prices rising exponentially faster than wages, purchasing a home in Tampa has become twice as hard,” said Mayor Jane Castor. “It is wonderful to see we’ve created homes for nearly 150 families over the last three phases of this project. These are real results we’ve created to address our affordable housing crisis in Tampa.”
With the current median home price in Tampa rising to an historic $430,000, the Infill Housing Program sets a stark contrast with the average 1200 sq. ft. home being sold anywhere between $275,000-$300,000.
“Since 2017, we have not only increased our affordable housing inventory, but we are also providing local developers a unique business opportunity where they can help make a difference in our communities,” said Nicole Travis, the Development and Economic Opportunity Administrator for the City of Tampa.
Developers must apply to participate in this program and are selected through a random lottery process. Many of the developers taking part in this program will then select qualifying home buyers through the City of Tampa’s DARE to Own the Dream Homeownership Program. This program offers closing cost help and forgivable down payment loans of up to $40,000.
The Request for Proposal for Phase III of the Infill Housing Program will be released in the coming weeks and will be posted on the City of Tampa’s Housing & Community Development webpage.
