Tampa affordable housing development opens on famed drive-in site

A new city-backed affordable housing community in Tampa has opened on the site of a historic former drive-in movie theater.

Marquee Square officially opened Wednesday with a ceremonial ribbon-cutting for the 354-unit community on East Hillsborough Avenue.

The project was developed by The Richman Group, which was provided $12 million in funding by the city to develop the apartment complex.

The money came from American Rescue Plan Act of 2021 funds that went to the city and that the city turned around and gave to Richman as gap financing. This money, then, allowed the city to set the parameters to ensure the project remained fully affordable for 99 years.

According to the city, rents at Marquee Square start at $804 per month for a one bedroom and $954 per month for a two bedroom. They are reserved for those with incomes at the 50%, 60%, 80% and 120% of the Area Median Income.

The community was built on the site of Tampa’s Fun-Lan Drive-in, a local gathering spot for more than 70 years.

According to the movie theatre website Cinema Treasures, Fun-Lan opened Jan. 10, 1950 showing the screwball comedy “I Was a Male War Bride” starring Cary Grant and Ann Sheridan. In the early days it fit 700 cars and tickets cost $0.48.

The drive-in operated a single screen until 1983 and eventually grew to four before scaling back to two when digital projectors were added. A flea market moved to the property in 1981.

Fun-Lan closed December 2021.

The city initially wanted to buy and develop the property itself. But Richman won out in the bidding, paying $11.34 million for the property in 2022.