Tampa is expanding an infill program launched six years ago that’s aimed at bringing in more affordable housing to the city.
As part of program, the city will award 18 lots to developers or nonprofits with the condition that the homes be built and sold to qualifying buyers who meet income requirements.
According to a statement from the city, the developers or nonprofits must apply for a spot in the program, and the city-owned lots will be handed out in a lottery. The winners may then select qualifying buyers through the city’s DARE to Own the Dream Homeownership Program, which offers closing cost help and forgivable down payment loans of up to $40,000.
The total market value of the 18 lots is $1.3 million, according to a city spokesperson.
Since the Infill Housing Program began, it has led to 112 single-family homes being built in the city — 95 in phase one and 17 in phase two. This third phase will also include lots for multifamily housing.
Nicole Travis, Tampa’s development and economic opportunity administrator, says in the statement that since it was launched in 2017, the program has been able to both increase the city affordable housing inventory and given local developers a unique "business opportunity where they can help make a difference in our communities.”
The reality, though, is that there is a greater need for the program now than there was when it first launched.
Since 2013, the average the median home price in Tampa has jumped 206.8% to $391,000 according to a study released Dec. 6 by Construction Coverage, a California industry research firm.
Within the city limits, when the infill program started in 2017 the average price for a 1,200-square-foot single family home was between $275,000 and $300,000 according to the city. Today it’s $430,000.
An RFP application for the Infill Housing Program will be available in coming weeks on the city’s Housing and Development Community department webpage.