Hillsborough County officials have given the green light to significant new residential and commercial projects, signaling a new phase of development within the county. These approvals include a substantial housing component within the Energy Innovation Park and a notable sale of student housing in downtown Tampa, reflecting the region’s ongoing expansion and evolving real estate landscape.
Key Takeaways
- Up to 1,200 homes approved for Energy Innovation Park, alongside hotel uses.
- Strict environmental safeguards mandated for the Energy Innovation Park due to its mining history.
- A downtown Tampa student housing tower sold for $21.8 million, highlighting increased property values.
- Alliance Residential plans 130 townhomes in Sun City Center.
Energy Innovation Park Expansion
Hillsborough County commissioners have approved a significant modification to the Energy Innovation Park development, allowing for up to 1,200 homes. This change permits residential development in "Pocket E" of the approximately 3,000-acre site, which was previously designated primarily for energy and industrial uses. The modification also incorporates hotel uses and updates planning conditions related to buffering, screening, and access.
Environmental Safeguards and Resident Concerns
Given the property’s history as a phosphate mining site, stringent environmental testing and mitigation measures are required before residential construction can commence. These include establishing baseline radiation levels, conducting sitewide gamma surveys, and ensuring radon mitigation vapor barriers are installed under all residential structures. Additionally, developers must address potential groundwater contamination from the nearby Sydney Mine sludge ponds Superfund site. Despite these measures, some residents voiced concerns during public hearings regarding environmental contamination, traffic, and the pace of development.
Existing Development Rights and Project Justification
Commissioner Joshua Wostal supported the project, noting that the property already holds significant development entitlements for industrial and commercial uses. He argued that allowing residential development provided an opportunity to implement additional environmental protections that might not otherwise be triggered. The majority of commissioners agreed that the project’s environmental conditions and existing development rights justified the approval, emphasizing that further agency reviews and environmental assessments will be necessary before construction begins.
Downtown Tampa Student Housing Sale
In a separate development, a 12-story student housing tower located four blocks from the University of Tampa has been sold for $21.8 million. This marks a substantial increase from its 2017 purchase price of $4.6 million, underscoring the rising property values in downtown Tampa, particularly for assets near educational institutions and retail centers. The building, which houses 48 units, caters primarily to University of Tampa students and is experiencing strong demand, reflecting the university’s record enrollment.
Broader Growth Trends
The Energy Innovation Park is situated within the I-4 growth corridor, an area identified by county planners for future development. These recent approvals, alongside other planned residential projects like Alliance Residential’s 130 townhomes in Sun City Center, indicate a continued trend of expansion and diversification in Hillsborough County’s housing and commercial sectors.
Sources
- Hillsborough approves 1,200 homes at Energy Innovation Park, Tampa Bay Business & Wealth.
- Hillsborough County approves 1,200 homes at Energy Innovation Park, The Business Journals.
- Alliance Residential plans 130 townhomes in Sun City Center, The Business Journals.
- Downtown Tampa student housing tower sells for $21.8M, Tampa Bay Business & Wealth.