$63M affordable housing project to break ground in Tampa's West River district
By Henry Queen
Tampa Bay Business Journal
Published: Feb 22, 2024

The latest phase of Tampa’s West River project has arrived.

The Tampa Housing Authority and other community partners will break ground Thursday on two towers that will add 188 affordable units to the West River project. Related Urban Development Group, the affordable housing arm of the Miami-based Related Group, partnered with the Tampa Housing Authority on the venture.

Construction is projected to end in November 2025, upon which TRG Management will take over as property manager.

“Canopy Phase Two” — as the new $63 million project is known — will serve families earning from 22% to 80% of the local area median income. One of the towers will span five stories with 158 units comprising one-, two- and three-bedroom units, while the other will have three stories with 30 larger units of up to four bedrooms.

“This project is a testament to the power of partnership and our shared vision for fostering vibrant, inclusive neighborhoods,” Tampa Housing Authority president and CEO Jerome Ryans said in a statement.

Located at 1103 W. Main St., the towers will include a tech lab, pool and fitness center. Tampa Housing Authority will run adult literacy, employment assistance and financial management programs to boost residents’ upward socioeconomic mobility, according to a release. The project is mostly funded by tax-exempt bonds through the Housing Finance Authority of Hillsborough County.

Tampa’s West River redevelopment spans nearly 200 acres and should have almost 1,700 rental units and 68 owner-occupied units upon completion. “Canopy Phase One” is already set to add 196 affordable units when it opens this year.

The neighborhood is near Tampa Heights, where home values have risen sharply since Armature Works opened in 2018.

Mayor Jane Castor, Hillsborough County Commissioner Gwen Myers and U.S. Department of Housing and Urban Development Regional Administrator Jennifer Riley Collins will be among those delivering comments at the groundbreaking.