Tampa City Council unanimously approved an agreement allowing PMG Affordable and its partners to advance a $530 million, 1,150-unit mixed-income redevelopment at the former Army/Navy Surplus Market site in North Downtown.
The five-phase project would rise on four acres of city and CRA land between North Tampa Street and East Ashley Drive.
Its housing commitments include at least 568 apartments for households earning 80% or less of area median income and at least 230 for households earning between 80% and 140% of AMI, with the restrictions remaining in place for at least 50 years.
The agreement sets a minimum combined purchase price of $8.625 million for the four parcels and includes $7 million in city funding for 150 public parking spaces.
It also calls for roughly 28,000 square feet of ground-floor retail, commercial and community space.
The council vote follows the city and CRA’s March selection of the PMG Affordable-led proposal from a solicitation requiring at least 800 homes.
PMG Affordable is partnered with the Tampa Housing Authority, Banc of America Community Development Company and Tampa-based DuCon LLC; the group is also pursuing the redevelopment of Robles Park Village.
Plans include plazas, green space, outdoor seating, public art, landscaped sidewalks, bike and micromobility areas, new streets and infrastructure upgrades.
The site is adjacent to the Ashley Drive connection to Interstate 275, where officials have discussed pedestrian-safety and connectivity improvements linking North Downtown with Tampa Heights, the Riverwalk, the Straz Center, jobs and transit.
“Today’s unanimous City Council vote is an important step toward delivering much-needed affordable, attainable and workforce housing for Tampa families,” PMG Affordable Partner Dan Coakley said. The approval allows the team to proceed with design, financing and community coordination before construction.
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