Tampa CRA invests $4 million into workforce housing conversion
- Mark Parker
- May 13
- 2 min read
A recently completed apartment building in downtown Tampa will now offer workforce housing thanks to a $4 million investment from the city’s Community Redevelopment Agency (CRA).
The funding, announced on Tuesday, will support the conversion of 22 market-rate apartments within The Residences at 801 East Whiting into workforce housing. Tampa CRA officials said the development, within walking distance of the upscale Water Street District, will help bridge a critical gap for middle-income residents who want to live closer to where they work.
Tampa-based BendinRoad Development, in partnership with Landings Real Estate Group, is behind the eight-story, 104-unit project at 801 East Whiting Street. The 22 apartments designated as workforce housing will serve households earning between 80% and 140% of the area median income (AMI).
“Every affordable unit we can secure means one more teacher, one more service worker, one more nurse, first responder, or other working-class resident can live in the heart of our city, where they are closer to their jobs,” said CRA Board Chair Naya Young. “And where their families can enjoy all the amenities downtown Tampa has to offer.”
According to the announcement, the investment exemplifies the CRA’s mission to foster economic growth while ensuring the city’s evolution into a modern metropolis benefits residents of varying income levels. Officials also believe that creating more attainable housing downtown reduces commuting burdens and enhances the area’s livability.
Apartments at The Residences at 801 East Whiting have compact floor plans ranging in size from 388 to 542 square feet. All subsidized units will feature an innovative furniture system, the Ori Cloud Bed.
Designed to maximize space in urban living environments, the ceiling-mounted system integrates a sofa and a bed that retracts overhead at the push of a button or via voice control. That allows residents to convert sleeping space into a living area without the need for separate furniture.
“This project represents an important step in expanding access to high-quality, attainable housing in a part of Tampa that has traditionally been out of reach for many working individuals and families,” said Craig Bazarsky, co-developer for BendinRoad. “We’re excited to be part of a solution that not only supports the city’s growth, but also ensures that the people who contribute to its success can live and thrive here.”
The three one-bedroom and 19 subsidized studios may still be out of reach for many residents. Monthly rents start at $1,606 for households earning up to 80% of the AMI, which is $64,250 for one person.
However, the cost represents an approximately $500 monthly discount on comparable market-rate units, according to the announcement. Income restrictions must remain in place for 50 years.
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