Tempo at Encore land sells as construction begins

BUYER: The Tempo at Encore LP (Tampa Housing Authority Development Corp., Hazel Harvey, Robert Shimberg, Rubin Padgaett, Jerome Ryans, Susan Johnson-Velez and Andrew Libby Jr.) Tampa
SELLER: Housing Authority of the city of Tampa, Florida
PROPERTY: 1102 Ray Charles Blvd., Tampa
PRICE: $2.11 million
LAW FIRM ON DEED: Saxon Gilmore Carraway & Gibbons PA, Tampa

PLANS, DESCRIPTION:
A joint venture of the Housing Authority of the city of Tampa, Banc of America Community Development Corp. and RBC Capital Markets Tax Credit Equity Group purchased a portion of the more than 40-acre Encore development for $2.11 million.

The developer, a similar joint venture made up of just the Tampa Housing Authority and Banc of America Community Development, has already started constructing a seven-story multifamily building on the property called The Tempo at Encore. The project will create 203-unit apartment buildings in a mixture of one- to four-bedroom units.