Rio Palma Apartments<\/a>, at 7200 Causeway Blvd. in Tampa, will consist of 16 one-bedroom apartments, 50 two-bedroom, and 24 three-bedroom apartments, the release says. Five apartments will be fully equipped for people with disabilities and nine will be set aside to house the formerly homeless.<\/p>\nDesigns for the apartments include modern, energy-efficient features and in-unit washers and dryers. The complex will offer an exercise room, community center and playground, the release says. Rio Palma Apartments is anticipated to open to the public this winter and is already taking applications online, accepting section 8 housing vouchers and other forms of agency rental assistance.\u00a0<\/p>\n
Blue Sky purchased the land for Rio Palma Apartments in 2025 for $2.5 million, according to Hillsborough County Property Appraiser records,<\/p>\n
Half of the community\u2019s 90 units will be rented at below-market rates for those making 60% to 80% of the area median income \u2014 around $50,000 for a two-person household \u2014 while the remaining units will be set aside for those making 30% to 50% of the area median income.\u00a0<\/p>\n
Hillsborough County contributed $1.2 million in State Housing initiative (SHIP) and Home Investment Partnership Program (HOME) funding to the project, according to the release.<\/p>\n
Hillsborough County Affordable Housing Services administers federal and state funding to develop effective affordable housing and community development strategies for low- and moderate-income residents. Likewise, Tampa-based Blue Sky Communities\u2019 mission is to partner with governments and nonprofits to develop affordable housing. Founded in 2012, Blue Sky Communities has created 30 communities housing more than 3,000 families.<\/p>\n
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