#United States #Impact Development Partners #HōM #Temple Terrace

New Housing Development for Tampa's Workforce

Impact Development Partners (IDP) has taken significant steps to address Florida's housing crisis with the launch of HōM at River Hills, a new multifamily community situated in Temple Terrace. This ambitious project comes in response to the increasing need for affordable and modern living spaces designed for the workforce in the Tampa area.

A Vision for Affordable Living

Spanning across a substantial 32.34 acres, HōM will feature 330 apartments built within 11 three-story buildings. Each unit will be thoughtfully designed to cater to a diverse range of lifestyles, offering one-, two-, and three-bedroom options with sizes varying from 707 to 1,248 square feet. Modern amenities including a private clubhouse and a resort-style pool will also enhance the community experience, providing residents with spaces to relax and engage with their neighbors.

This initiative is crucial for Temple Terrace, a region that has seen limited multifamily developments in recent years. John Akin, President of IDP, expressed enthusiasm about this project, highlighting the importance of providing quality housing solutions in an area where demand has been on the rise. He stated, "River Hills is an exciting opportunity to bring thoughtfully designed housing options to the Temple Terrace area, where new multifamily developments have been scarce."

Strategic Partnerships

To successfully launch this development, IDP has partnered with several reputable organizations. Trustmark and Great Southern Bank are the principal financial backers, while the Patterson Real Estate Advisory Group played a critical role in facilitating the project. Lauren Hanley, Managing Director at PCA, emphasized how challenging it can be to secure development capital due to the competitive nature of the current market.

"IMPACT nailed all three [key aspects for successful development], recognizing Tampa as a booming market and finding a unique riverfront site to deliver quality housing at a fair price in an incredibly well-located area," Hanley remarked.

Supporting Local Economy

HōM's strategic position along the vibrant Hillsborough River places it near major employers in Tampa Bay, including the University of South Florida, Moffitt Cancer Center, and Busch Gardens. This proximity to such significant employers will not only make commuting easier for residents but is also expected to have a positive impact on the local economy.

Project Oversight by Experts

Impact Development Management (IDM), IDP's sister company, will oversee the construction and project management of River Hills, ensuring that quality and efficiency are maintained throughout the development process. Jason Hughes, President of IDM, noted the excitement surrounding the project, stating, "We are excited to contribute our project management expertise to the River Hills development and deliver a vibrant, welcoming community that enhances the quality of life for residents."

A Step Toward Solving Housing Challenges

With the launch of HōM at River Hills, IDP is stepping up to the production of much-needed workforce housing. Given Tampa Bay’s rapid growth, this initiative will play a significant role in helping families and individuals find affordable living options. As communities across the United States wrestle with housing affordability, projects like HōM offer a glimmer of hope and a scalable model for other regions facing similar challenges.

Impact Development Partners remains committed to pushing forward with innovative, community-centered developments throughout the Southeastern United States. Through strategic partnerships, expert project management, and a focus on quality, the HōM project is poised to make a lasting impact on the housing landscape in Tampa.