Largest HUD grant ever given to downtown Tampa development
1:41 PM, Feb 25, 2013
TAMPA - The Encore development near Downtown Tampa got a huge boost Monday, when a $30 million check was handed to the Tampa Housing Authority by the US Department of Housing and Urban Development.
The check is the largest ever given out by the agency, according to the housing authority.
The HUD said only 4 housing authorities were selected across the country to receive similar grants.
Leroy Moore, with the Tampa Housing Authority, said this only catalyzes the project that so far has one completed building, another under construction, and several empty lots awaiting final development plans.
"I think this is going to be the genesis for the entire Central Park, Ybor area to thrive over time," he said.
The funds are headed toward one specific building, a 140-unit building called the Tempo which will begin ground breaking next month, according to the developer.
Encore is master planned to be a mixed economic development community that will attract the working class and professionals alike.
That's also why Ed Jennings Jr. said the HUD decided to give the money to the project.
"This community all told will have some 30 million dollars. We've leveraged some 78 million dollars and we'll have over 600 units, overshadowing the number of units that was here before. It's just the kind of application we're talking out," he said.
The Ella stands right now as the only completed building, but will soon be joined by the Trio and the Tempo.