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Business Observer Wednesday, Sep. 21, 2022 2 weeks ago

More than 300 workforce apartments coming to Tampa

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An Arizona developer is building the units on a property near I-75, close to the jobs corridor.
by: Louis Llovio Commercial Real Estate Editor

A Scottsdale, Arizona, multifamily developer plans to build 336 apartments on a 29-acre piece of land in Tampa.

Alliance Residential Co., the developer, will not disclose what it paid for the acreage or how much the development will cost. County property records have not been updated.

The complex, which will be called Prose Park View, will be on Dr. Martin Luther King Boulevard on the city’s east side near Interstate 75, north of where it intersects with Interstate 4. The location is an important factor because the company says its Prose brand of apartment complexes “focus on providing attainable apartment homes near high growth employment corridors.”

When complete, the community will be made up of one- and two-bedroom units ranging from 697 square feet to 1,174 square feet and with 9-foot ceilings and vinyl plank flooring throughout.  

Construction is expected to be complete late next year.

Alliance was founded in 2000 and has offices in 19 states. According to its website, it has built or bought more than 100,000 units, investing $20 billion. It launched the Prose brand in 2018 to “address demand for quality affordable apartments.” The company also builds and buys senior living and built-to-rent communities and industrial properties. 

In Florida, it has five Prose properties either under construction or already leasing. That includes the Tampa property, three near Orlando and one in Lakeland.

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