A new affordable housing development has begun interviewing potential residents for an apartment complex made possible by a partnership between the City of Tampa and Tampa-based developer, Blue Sky Communities.
The Adderley, a 128-unit multifamily complex built at the intersection of Nebraska Avenue and Busch Boulevard, bridges the Sulphur Springs neighborhood with the Uptown District. It was accomplished with the help of a $2 million investment from the City of Tampa.
“The need for affordable housing in this area of Sulfur Springs and Uptown is enormous,” said Housing and Community Development Director Kayon Henderson. “It is our hope that our partnership with Blue Sky Communities will inspire further reimagining along Nebraska Avenue.”
The development stemmed from Blue Sky Community’s proposal in response to the City of Tampa’s Low-Income Housing Tax Credit Program in 2021. This program awards developers federal tax credits to offset construction costs in exchange for reserving units for lower-income households. All 128 of The Adderley’s units are designated affordable.
To qualify for residence in The Adderley, applicants must earn 80% or less of the area median income, ensuring some of the people most in need of affordable housing have access. Below is a chart of starting rental rates based on unit size and the applicant's AMI-based income.
30% | 60% | 80% | |
|---|---|---|---|
1BR | $420 | $957 | $1,316 |
2 BR | $508 | $1,153 | $1,583 |
3 BR | $588 | $1,333 | $1,830 |
“Ensuring our area’s most vulnerable residents have access to affordable housing enabling them to remain in the neighborhood they’ve called home is a priority,” said Mayor Jane Castor. “Housing costs are a long-standing issue for many of our residents, and The Adderley will help remove that burden.”
The $2 million in funds were made possible with a State Housing Initiative Program (SHIP) Grant and ARPA (The American Rescues Plan Act) funds. The SHIP Grant provides local governments with financial resources to preserve affordable housing units for low-income families.
The Adderley is currently accepting applications, and hopes to begin moving residents into its one, two and three-bedroom units come September.