Community Real Estate Development Projects Presented [09/18/2008]

by Phavienne Celestin

On August 22nd, the 2008 Community Real Estate Development (CRED) class celebrated the completion of their studies by offering the community practical fruits of their labor. This USF continuing education program, offered by the USF Collaborative and Florida Institute of Government, provides practical training for community developers and non-profits, using a variety of faculty and practitioners to teach students the tools needed to carry out successful affordable housing and community-based real estate development projects. Participants were chosen for their dedication to revitalization and growth of the communities in which they serve. Tom Zuniga, CRED Principal Instructor, specializes in the financial packaging of "hard-to-do" urban revitalization projects.

Keynote speaker Florida Senator Victor Crist discussed the importance of establishing strategic directions for the future development of the Tampa area, and the value of partnerships. The graduates and their projects are listed below:

• River Oaks

This project preserves and renovates existing rental housing to assure long term affordability. The property has a mix of one, two and three bedroom units whose average monthly rent is $534, which will be restricted for at least 10 years. The plan is to acquire the existing 260-unit rental housing development and boost the amenities to include before and after school programs, a wellness center, and a homebuyer incubation center. The team has secured site control and submitted a loan application to Neighborhood Lending Partners. Team members include Rev. Dr. Maxine Woodside, Curtis Stokes, Gladstone (Tony) Cooper, Albert Lee, and Shrimatee Ojah-Maharaj.

• Pride Park by Goodwill Homes

Pride Park has won local government support by combining neighborhood revitalization strategy with increased affordable housing inventory. Dolores Episcopo, who heads homebuyer education for Goodwill Homes of Sarasota, targets "mortgage ready buyers" who were incubated through counseling and case management. The first two home plans are ready, and the team has identified 6 additional homesites which will be acquired with county support. Working with team leader Dolores Episcopo are Myrtis Stevenson and Connie Mustipher.

• Trinity Oaks

A 14-unit rental housing project is proposed for returning war Veterans (homeless & disabled) on a site offered by private property owner Nelson Priede. The team has linked with James Haley VA Hospital for referrals, and is working with USF Community Design Program leader, Professor Trent Green. Team members include team leader Thomas Huggins, Leonard Burke, Edi Erb, Eric Brown and Sheila Tate.

• Faith Based Consulting Group

Cathy Capo Stone and Frank Bowman propose to create a consulting service that will serve as surrogate staff to faith groups who have land and want to provide supportive housing. Cathy and Frank created the H.O.M.E. Team Mission using the prototype established by Sanctuary Homes, a Metro Ministries supportive housing project, who will replicate the housing for other churches. Franklin Bowman, Cathy Stone, Jenna Emmons and Andrew Heron are members of this team.

• East Tampa Garden

This East Tampa Partnership project includes corridor beautification, and the identification and marking of places of interest and significance to the neighborhood in order to help market the East Tampa community. Team members include team leader Evangeline Best (Chair of the East Tampa Partnership), Latasha Hawkins, David Ilonya, Sharon Carter, Wally Olapade and Robert Blue.

• Brooks Court

The 18 proposed units on Martin Luther King Boulevard in East Tampa will provide assisted living to the elderly, transitional housing for women veterans with children, and housing for young adults who are aging out of the foster care system. This shared rental housing concept plan recalls the historic importance of extended family for growing communities. Team members include Frances Brooks and Michelle Van Loan.

The 2008 CRED program was made possible though the financial support of several government and private sector sponsors: the Housing Finance Authorities of Pinellas and Hillsborough Counties, Citigroup Foundation, Fifth-Third Foundation and Raymond James Bank.