TAMPA, Fla. — A new housing development in East Tampa is offering a rare mix of affordability and quality as city leaders continue to grapple with a worsening housing shortage.
The city’s 2025 Housing Needs Assessment revealed Tampa is short more than 26,000 affordable homes for low-income households — a gap that is only expected to grow.
Marquee Square Apartments, still under construction off 50th Street, is one of the largest mixed-income housing projects underway in the city. When complete, it will add 354 new apartment homes to Tampa’s market, with about half reserved for households earning between 50% and 120% of the Area Median Income (AMI).
For new resident Phyllis B., moving into Marquee Square has been life-changing.
“If the apartments or homes aren’t available — even if you have your own funding — then where are you going to move to?” she asked.
“You’ve got a clean apartment. You’re not worried about maintenance now… after staying here for just a couple of weeks, my health was already better.”
She says she was priced out of other neighborhoods but found stability here.
Rents at Marquee Square Apartments are tied to income levels, making them far below market rate for qualified tenants.
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1-Bedroom (50% AMI): $804/month
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1-Bedroom (80% AMI): $1,391/month
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2-Bedroom (50% AMI): $954/month
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2-Bedroom (80% AMI): $1,659/month
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3-Bedroom (80% AMI, 2 units): $1,905/month
The $80 million project includes six residential buildings and a clubhouse.
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The clubhouse, Building 6, and Building 5 are complete and leasing — representing 104 units.
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Building 4 (73 units) will open in November 2025.
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The final three buildings are on track for January 2026 delivery.
“Construction has progressed steadily since 2024, with subcontractors responsive and inspectors collaborative,” the developers said.
Evan Johnson, Tampa’s interim city planning director, says projects like Marquee Square are vital for the city’s future.
“We know that demand is only going to grow. So as we look out 20 years, our goal is to attack this challenge in as many ways as we can — so that in five years, we can come back and see real progress,” he says.
He added that the city is working to streamline permitting and update land development codes to reduce construction delays.
Todd Fabbri, project partner, said balancing affordability with rising construction costs is the biggest challenge.
“Workforce housing only succeeds when it remains accessible to the families it’s meant to serve. For this development, we used a mix of public and private resources, including city incentives and state housing programs. By combining those with efficient construction, we can deliver high-quality housing at rents Tampa’s working families can truly afford,” Fabbri said.
Early leasing shows a diverse tenant base: young professionals, families, and retirees.
“We’re seeing teachers, healthcare workers, and service industry employees — people who keep Tampa running but can’t pay $2,000-plus a month in rent,” said a leasing manager, who did not want to be named.
Income guidelines ensure apartments remain affordable:
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Minimum income for 1-Bedroom (50% AMI): $25,374
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Maximum household income for 4 people (80% AMI): $83,440
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Maximum household income for 8 people (80% AMI): $110,160
All applicants must pass a full screening process.
With population growth showing no signs of slowing, city leaders plan to use the Housing Needs Assessment to shape zoning reforms, incentive programs, and public-private partnerships aimed at building more developments like Marquee Square.
For families like Phyllis’s, the change is already tangible.
“After just a few weeks here, I felt better, I slept better, and I finally felt like I had a home I could be proud of,” she says.