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Clark Realty Builders Starts Second Phase of Belmont Heights Estates in Tampa

May 5, 2003

TAMPA, Fla. — Clark Realty Builders (CRB)* recently started the second phase of Belmont Heights Estates, a $23 million multifamily development in East Tampa. Two community centers and 358 apartments will be added to the existing 201 units CRB recently completed.The mixed income community, which includes market-rate, tax-credit, and public housing units, will begin leasing this summer.

Clark Realty Builders Starts Second Phase of Belmont Heights Estates in Tampa Press Release Image

Belmont Heights Estates II

The Tampa Housing Authority is working with New Jersey firm Michaels Development Co. to develop the new apartment community, which is being funded in part by a federal grant under the Housing and Urban Development (HUD) Hope VI Program. Clark Realty Builders is the general contractor, and Torti Gallas and Partners is the architectural firm. As a Hope VI development, Belmont Heights was designed to beautify and revitalize the community by adding safe, modern homes and by providing employment and skill-learning opportunities for local residents.

"Belmont Heights Estates is the Taj Mahal of East Tampa," said Jerome D. Ryans, executive director of the Tampa Housing Authority, "Our goal has always been to change the face of public housing in this community. Belmont Heights Estates is indicative of the change and how public housing has been previously viewed locally. The wait has been worthwhile." The revitalization plan for the 36-acre site, which was once home to the Ponce De Leon Courts and College Hill neighborhoods, has transformed the existing gated barracks-style public housing into a vibrant new mixed-income residential neighborhood. The plan capitalizes on the site's greatest natural amenity, its beautiful large Live Oaks and other species, by maintaining the tree-canopied streets, when present, and by creating new parks and greens that preserve large stands of mature trees. These new greens provide a sense of identity and organization for the new community.

Single-family, duplex, and Grand House (four-plex) residences are designed in the Florida Craftsman style and community buildings are designed in the Spanish Colonial style indigenous to the area. All residences have front or side porches, as is customary in traditional Florida neighborhoods.

Individual homes feature built-in computer desks, gas-fired hot water heaters, and electric appliances. Residents will enjoy access to the second-phase addition of a new senior community center with computer room, family center, tot lot, picnic area with pavilion, car care area, and basketball court.

Belmont Heights Estates is located north of Ybor City, only a few miles from the intersection of interstate highways 4 and 275.

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* Clark Realty Builders (CRB) is a national, multifamily general contractor recently ranked as the sixth largest such firm in the U.S. by Builder Magazine.

About Clark Realty

The Clark Realty companies offer a full spectrum of services to the real estate industry including investment, development, construction, property management, and capital markets.