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Old May 7th, 2013, 07:29 PM   #1
USF802
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TAMPA | Madison Heights | 7 Stories | 80 Units | U/C

Not terrible, I guess, could be a lot worse in terms of density. Tough to tell if it has ground level retail, lets hope it does.

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TAMPA-Downtown Tampa’s apartment boom is growing even stronger, with new plans for an 80-unit apartment building for low-income seniors.


American Realty Development of Maitland hopes to break ground next month on a seven-story apartment project on North Florida Avenue, just north of Fortune Street. Named Madison Heights, it will be across from the Marion Transit Center at the north end of downtown.


Plans call for 80 one- and two-bedroom apartments above a first-floor parking area, American Realty manager Patrick Law said. Would-be residents must be 55 and older and meet income requirements based on Hillsborough County’s median household income.


Rent will run from $275 to $674 a month. His company is financing the $15 million construction cost with a mix of government tax credits and a loan from PNC Bank. He hopes to finish construction by the summer of 2014.


Given the retirement of millions of Baby Boomers, Law expects to have little trouble filling the units.


“We’re in Florida, are you kidding me?” he said.


Downtown Tampa is seeing a surge of apartment development recently, with at least five developers planning luxury apartment towers offering rents starting at $1,000 a month and going above $2,000.


Fewer are targeting the low-income or seniors, but those sectors have shown signs of life lately. The master-planned Encore community built a seven-story, affordable senior apartment building called The Ella along Scott Street in northeast downtown.


And, a development firm called Sage Partners renovated the old Methodist Place Apartments on Harrison Street and turned it into an affordable senior apartment project called Vista 400.


http://tbo.com/news/business/senior-...pa-b82488211z1
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Old May 7th, 2013, 07:47 PM   #2
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That would be kitty corner from Metro 510. Being across from a major transit hub it would be nice to have something more dense.
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Old May 7th, 2013, 08:24 PM   #3
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Nice, I'd be surprised if it has GFR but we can hope.
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Old May 7th, 2013, 09:21 PM   #4
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Nice, I'd be surprised if it has GFR but we can hope.
Please just one retail outlet. I mean you'd rent it there are like a dozen food trucks that park near there every day.
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Old May 7th, 2013, 10:07 PM   #5
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Considering that the ground floor will include all the parking, a lobby, and probably some of the amenities for the residents; I doubt there will be any retail.
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Old May 7th, 2013, 11:12 PM   #6
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I'd think this would further stress the need for grocery options downtown. I mean, 55+ affordable units? Doesn't that sort tell you not everyone living there is going to be driving or calling taxis?
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Old May 7th, 2013, 11:19 PM   #7
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Not bad. Even has some balconies. But only 80 units? Seems like that would fill up fast. And that part of downtown is always dead no matter what they build around there.
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Old May 8th, 2013, 12:29 AM   #8
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Originally Posted by jonknee View Post
That would be kitty corner from Metro 510. Being across from a major transit hub it would be nice to have something more dense.
Not in this city. This thing is the downtown equivalent of a gated subdivision.

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Old May 8th, 2013, 07:36 PM   #9
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I hate to be Dougie-downer, but I don't find it aesthetically appealing at all. Come on, now, ... 7 stories? What are they thinking? I guess anything goes.
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Old May 8th, 2013, 07:37 PM   #10
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Nothing special. at least there is still a ton of vacant land in that area. Maybe eventually that area can be filled with things a little more substantial.
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Old May 9th, 2013, 03:57 AM   #11
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For the low rents they are charging, it could look a lot worse. If a lot of the funding came from gov't grants, they probably had to design the smaller size around the amount of money they wound up getting. Most people in Tampa don't look at Marion Street as a Transportation Hub, they look at it as a bus stop (poor people) being one block from the interstate. Sure it looks pretty generic, but it replaces a blank parking lot with 24 hour people downtown.
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Old July 20th, 2013, 12:56 AM   #12
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From what I remember seeing the last time I drove downtown it looks like they are doing site work for this.
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Old July 21st, 2013, 12:12 AM   #13
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That area is pretty dead, anything filling a vacant lot is welcome. If this was a project on Tampa or Ashley south of Tyler then I'd hope for something 20+ with retail.

Also, do yall really think anything "nice" could be built directly across from the Bus Hub
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Old August 23rd, 2013, 06:53 PM   #14
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Apartments, transit center spark new development

American Realty Development of Maitland has begun building the 80-unit Madison Heights Apartments in the block bound by North Florida Avenue and Marion, Fortune and Laurel streets.

The project is being financed with government tax credits and a loan from PNC Bank.

The building, designed by Slocum Platts Architects, will rise up seven stories along Marion Street next to the transit center.

Leasing for low-income residents age 55 and older will begin in the spring, a few months ahead of the building’s anticipated opening.

Nearby, a northward expansion of the Marion Transit Center is also under way.

The project includes new bus shelters and will add bicycle storage, a pick-up and drop-off area for taxis, paratransit vans and private vehicles. A canopy will be erected to connect the MTC to the new intermodal site is planned for early next year.

When completed next spring it also will include parking and additional landscaping. The project is funded by Hillsborough County and the Florida Department of Transportation.

HART’s Metro-Rapid North-South bus service began rolling in June along Nebraska and Fletcher avenues between downtown and Telecom Park, near the Hidden River Regional Park-n-Ride at Interstate 75.

HART said summer ridership has been stronger than expected and the agency expects a surge of additional riders as students return to Hillsborough County schools and the University of South Florida.

The route features 60 new transit shelters and 16 ticket-vending machines at key connection points.

The opening of MetroRapid and the transit center expansion show transportation improvements are possible in Tampa, though the projects are not as sexy as some transit proponents want to see.

A few years ago, a high-speed rail terminal was proposed for the nearby block bound by Scott, Morgan, Jefferson and Laurel streets, but Gov. Rick Scott rejected the bullet train.

North central downtown has seen other development, though it doesn’t usually get quite the same attention as new apartments in the Channel District or along the Hillsborough River.

In late 2011, Sage Partners renovated the 200-unit Methodist Place Apartments, now called Vista 400, on nearby Harrison Street, and built the 120-unit Metro 510, a six-story workforce housing development.

Further to the east, one multifamily building is open and two more are under construction at the master-planned Encore development.

Mark Holan's beats include commercial real estate and residential real estate.
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Old August 24th, 2013, 06:12 AM   #15
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The opening of MetroRapid and the transit center expansion show transportation improvements are possible in Tampa, though the projects are not as sexy as some transit proponents want to see.
Who writes this shit?

The problem isn't that the projects aren't "sexy", it's that they're small scale projects which have minimal usefulness and minimal positive impact.
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Old August 24th, 2013, 07:21 PM   #16
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Mark Holan wrote that shit markholan@bizjournals.com which would have been easier to find if there had been a link http://www.bizjournals.com/tampabay/...spark-new.html
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Old August 26th, 2013, 02:49 PM   #17
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I don't know why, I just keep forseeing myself looking at this property in 20 years in disrepair. I've seem similiar projects in other cities that were built in the early 90's that have not faired well over the last two decades. Just a feeling I get from the project.

That being said, given the area any type of development with even a modicum of style or substance is a welcome change. Would be great to see someone reinvent the Goody Goody in retail space down that way at some juncture.
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Old August 26th, 2013, 04:04 PM   #18
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On second thought, the Goody Goody would be better revived closer to Curtis Hixon and the activity of the arts district.
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Old August 27th, 2013, 12:08 AM   #19
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Is the crane that just showed up on the north end of downtown for this?
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Old August 27th, 2013, 03:18 AM   #20
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Yes there is a crane there and other equipment. Seems to be moving quickly despite all the recent rain. Check out the photos in this link.

http://www.bizjournals.com/tampabay/...spark-new.html

I guess we can start calling this part of north downtown the senior section.
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