There are currently about 1,000 units available for rent in the Ybor City area.
Managers at the Ybor City Development Corp. expect about 400 new units to be online within the next two years.
Ybor officials believe there is high demand for more housing in the district.
"For instance, Ashley Furniture is bringing in 300 new employees, so as we are bringing in new business, I think there will be a residential need for those employees," Ybor City Development Corp. manager Courtney Orr said.
One of the projects anticipated to help bring more residence to Ybor City is the renovation of the Oliva Cigar Factory. Developer Ariel Quintela said the building is being renovated into 38 apartments.
"We thought the missing link in Ybor City was residence, and we thought this building had such charm," said Quintela.
He said they plan to keep the building's original 1800s look.
His company also is investing in the former Don Vincente Inn and the former Blues Ship Cafe. A-Investments Development Corp. will add about 200 new apartment units to Ybor City within the next few years.
"I think there is a pent up demand for people wanting to live in this area. It's such a unique area," Quintela said.
Some of the housing projects planned for Ybor City will be completed by the end of 2016.