Tampa Approves $35 Million for Ybor Harbor Infrastructure Upgrades Ahead of Groundbreaking
Key financing has now been secured for infrastructure upgrades tied to Ybor Harbor, a massive mixed-use development planned to replace an aging shipyard in Tampa’s Channelside district. On May 14, the Tampa City Council unanimously approved $35 million in funding for the improvements, marking another major milestone for the long-anticipated waterfront project led by local developer Darryl Shaw. The project represents Shaw’s next large-scale redevelopment effort in the urban core. Just north of the site, Shaw is already leading construction on Gasworx, a similarly ambitious mixed-use development transforming former industrial land into a dense, walkable district. The approved funding will cover only a portion of the infrastructure work ultimately required at Ybor Harbor. Total infrastructure costs are currently expected to exceed $200 million. Shaw’s team initially requested $50 million from the CRA, though staff later recommended reducing that figure to $35 million, which ultimately became the amount approved by City Council. Funding will be distributed incrementally, with $7 million allocated annually between 2029 and 2033. The financing will come through the CRA, which is intended to address blight and support redevelopment within the surrounding district. Planned improvements include upgrades to sewer and water infrastructure, sidewalks, seawalls, and other public facilities needed to support the project’s large-scale buildout. According to Tampa Monitor, the infrastructure package also includes approximately 1,100 linear feet of new public waterfront access and roughly 2,500 feet of overall outdoor public space integrated throughout the site plan. Momentum around the project accelerated last summer after plans were unveiled for a new 15,000-seat soccer stadium anchored by Tampa Bay Sun FC, the metro’s professional women’s soccer team. In addition to hosting matches, the stadium is expected to function as an entertainment venue capable of accommodating concerts, festivals, sporting events, and other large gatherings. At full buildout, Ybor Harbor is planned to include approximately 800 hotel rooms, 150,000 square feet of street-level retail space, 500,000 square feet of office space, and 4,750 residential units. Plans also call for 10% of rental units to carry rent restrictions. According to Avi Friedman Shaw, vice president of development at Darryl Shaw’s firm, the current annual tax revenue generated by the 32-acre site totals roughly $400,000 today, though projections estimate that figure could eventually exceed $47 million annually once the development is fully built out. While finalized plans for individual blocks have not yet been submitted to the city, the broader master development is continuing to advance toward construction. Groundbreaking is currently targeted for next year.
300 Malaga Proposed in Coral Gables, Bringing 25 Luxury Residences
A new luxury multifamily development is headed to the Coral Gables Development Review Committee, as developers seek approvals for a four-story residential building known as 300 Malaga. Recently submitted by Roger Development Group and designed by Nichols Architects, the project is scheduled to appear before the committee on May 29, 2026. Planned for 300, 310, and 318 Malaga Avenue in Coral Gables, the development would replace three existing single-family homes assembled by the developer in late 2025 for roughly $2.4 million. Zoning documents tied to the proposal reveal that the entire block recently underwent a series of land-use and zoning modifications, with the Future Land Use designation updated to allow a range of residential zones, including Single-Family High Density, Multifamily Duplex Density, and Residential Multifamily Medium Density. The changes were made through a petition process backed by a majority of residents living on the block. Alongside the land-use amendments, the area also received updated height regulations and other zoning revisions intended to accommodate future redevelopment. The changes represent yet another single-family block in the southern portion of Coral Gables for potential redevelopment, as pressure for new housing continues pushing outward from the city’s increasingly constrained core. With large redevelopment sites becoming more difficult to find, smaller residential assemblages like this are beginning to emerge more frequently as viable multifamily investments. According to plans submitted to the city, 300 Malaga will contain 25 residential units consisting of one-bedroom, two-bedroom, and three-bedroom layouts. Units are expected to be notably large, with three-bedroom residences making up the majority of the project. Amenities will be on the rooftop level, where plans call for a pool, cabanas, bathrooms, barbecue areas, fitness space, and additional leisure-oriented amenities overlooking the surrounding neighborhood. Parking will be housed below grade, with 55 spaces planned within a basement garage. At street level, the project incorporates widened sidewalks, added landscaping, and a small residential lobby. According to submitted elevations, the building will rise 56 feet and contain four occupiable floors, plus a rooftop amenity level that gives the structure the appearance of a fifth story. Architecturally, the project leans heavily into the traditional design language favored by Coral Gables, featuring a highly articulated facade composed of precast stone finishes, smooth stucco, and cornice detailing. Describing the inspiration behind the project, Nichols Architects stated that 300 Malaga “pays tribute to the assemblage of rich Architectural styles in Coral Gables. The inspiration for our residential project is French style architecture and several historic French-themed villages around the city.” Approval of the project is widely expected given both its scale and architectural approach. While updated zoning on the block now permits buildings up to five stories, the proposal remains below the maximum allowable height.
Updated Plans for Keystone Midway Submitted in Miami-Dade, Set to Add 489 Units
Fontainebleau could soon receive its first major development filed under Florida’s Live Local Act, as developers have submitted updated plans for a 15-story mixed-use project known as Keystone Midway. Proposed by Keystone Holdings, the project would replace an existing church property with nearly 500 residential units, marking the second iteration of the proposal after an earlier version was filed months ago. Planned for 190 NW 79th Street, the development would redevelop a 2.4-acre site currently occupied by a church building constructed in 1977 alongside a large surface parking lot. The property was acquired in early 2025 by Keystone Midway LLC for $10.2 million from Cathedral Connection Ministry Inc. Recently submitted plans call for a total of 489 residential units, an increase from the 477 units proposed in the project’s original filing. Under Florida’s Live Local Act, developers can access additional development incentives in exchange for reserving at least 40% of a project’s units as workforce housing. In this case, 40% of Keystone Midway’s units would be designated for residents earning up to 120% of Area Median Income. The development’s unit mix will include one-bedroom, one-bedroom plus den, two-bedroom, two-bedroom plus den, and three-bedroom layouts. One-bedroom units are expected to make up the majority of the project, followed by two-bedroom residences. Like many Live Local developments still moving through early approvals, portions of the amenity package remain subject to change. Still, plans already outline a substantial amenity deck located on the seventh floor, featuring a pool, kiddie pool, spa, pickleball court, family lounge, fitness center, business center, and game room. At street level, the project aims to improve pedestrian activity along the corridor through added landscaping, widened sidewalks, and 6,301 square feet of retail space. That figure represents a reduction from the 8,624 square feet of retail included in the original proposal. To support both residents and commercial activity, the development will include 773 parking spaces, slightly below the 779 spaces otherwise required under existing code. According to submitted elevations, Keystone Midway will consist of two tower structures rising above a 6-story podium. Both structures are planned to reach approximately 161 feet at their tallest architectural point. Renderings depict an exterior composed primarily of stucco finishes, metal balconies, and a pastel-toned color palette. Windows are not planned to be floor-to-ceiling, although balconies will line the facade. The project’s proposed height is made possible through the Live Local Act’s zoning regulations, which allow qualifying developments to match the tallest permitted height within a 1-mile radius. In this instance, the development uses zoning tied to a recently proposed 600-unit project by LF Development located roughly 0.64 miles away, where 15 stories are permitted. That mechanism could ultimately create a ripple effect for nearby properties that are seeking similar increases in density and height. The application is currently undergoing administrative review by Miami-Dade County, though approval is expected.
278-Unit Greenzone Development Proposed at The Big Easy Casino in Hallandale Beach
A chunk of Big Easy Casino in Hallandale Beach could soon be redeveloped into apartments, after developers submitted plans for two 8-story residential buildings to the city. Proposed at 501 NE 7th Street, the project will be dubbed Greenzone. Plans call for the redevelopment of an existing surface parking lot into a mixed-use development featuring apartments and retail, adding to an area that has rapidly become a hotspot for new construction activity. The property, originally home to a greyhound racing track before later being rebranded as Big Easy Casino, has seen portions of the larger site gradually sold off for redevelopment over the years. A 12.3-acre parcel was previously sold to JAI Legacy Holdings LLC, which later transferred the 3.09-acre development site to Greenzone Property Hallandale 770 LLC for $12 million. Current plans submitted to the city call for 278 residential units split between 54 efficiency units, 168 one-bedroom units, and 56 two-bedroom units. Efficiency units are planned at 499 square feet, while one-bedroom layouts will average 740 square feet and two-bedroom units approximately 1,050 square feet. Planning documents estimate the project could house around 560 residents at full occupancy. Units are expected to feature floor-to-ceiling windows, private balconies, and access to a broad amenity package centered around a rooftop deck above the parking structure. Proposed amenities include a pool, spa, clubhouse, playground, gym, landscaped open space, and two pickleball courts. At ground level, the development is designed to activate much of the site with 17,745 square feet of retail space lining the south, west, and north portions of the property. The surrounding streetscape is also set to receive pedestrian-focused upgrades, including widened sidewalks, added greenery, and other public realm improvements. To accommodate both residents and retail demand, the development will include 391 parking spaces. The project is being designed by SKLARchitecture, with the two 8-story structures planned to rise approximately 96 feet to the roofline, or roughly 100 feet to their tallest architectural feature. Renderings depict a contemporary facade complemented by white and gray tones, with the parking podium wrapped by active uses and architectural screening intended to minimize its visual impact. Describing the project’s design in a letter submitted to the city, SKLARchitecture wrote, “The architectural design emphasizes a contemporary and cohesive aesthetic, with clean lines, articulated façades, and curved balcony elements that create visual interest while also functioning as shading devices to enhance energy efficiency and occupant comfort. The massing is carefully modulated to maintain a strong street presence while providing appropriate transitions within the site and to surrounding uses.” The development is expected to move through the approval process with relative ease. Unlike many large redevelopment proposals in South Florida, the project requires little demolition, as the site currently functions as surface parking. In addition, the zoning and land-use framework already established for the former greyhound track property anticipates large-scale redevelopment, positioning Greenzone to move forward without major entitlement hurdles.
Miramar Cove Breaks Ground in Miramar, Advancing Massive 125-Acre Mixed-Use Project
A new master-planned community is taking shape in Miramar, where one of South Florida’s last large-scale greenfield sites is now moving into the construction phase. Coined Miramar Cove, the 125-acre project is being led by Sunbeam Properties and is envisioned as a “15-minute city,” blending residential, retail, office, and recreational uses into a single, walkable environment. According to the developer who recently announced ground breaking, site clearing is already underway, with full buildout currently targeted for the first quarter of 2028. The project is planned in two phases, beginning with the southern portion of the site. Sunbeam secured approvals for the master development in 2024, after assembling the land years ago, positioning the firm to move quickly once entitlements were in place. This won’t be the firm’s first large-scale undertaking by the company however. In North Bay Village, Sunbeam has also proposed a multi-tower waterfront development that’s among the more ambitious projects in Miami-Dade County, and has already cleared key approvals as well. What’s Planned? According to project materials, Miramar Cove is set to deliver 2,874 residential units, of which roughly 200 are townhomes, alongside a mix of commercial and hospitality components. Plans call for: Retail leasing is being handled by Katz & Associates. In total, the development is expected to support a population of around 8,000 residents at full buildout, with marketing materials shared by Miramar News indicating a target demographic of renters aged 25 to 45 earning approximately $150,000 annually. Public realm improvements are also a major component. The project will reshape portions of Red Road and Miramar Parkway with new access points, expanded sidewalks, and additional landscaping. Roughly 40 acres of green space is planned across the site, including parks, trails, and a series of waterfront features. Among the more notable elements: The Location Miramar Cove’s location sits within a rapidly evolving region of South Florida. The site sits just north-west of Hard Rock Stadium, where Miami’s Metrorail is set to expand to. As developable land becomes increasingly scarce across South Florida, projects of this scale are becoming rarer.
Harbour Island’s Rejected Hotel Is Coming Back at Twice the Height. This Time, Tampa Has Little Say.
A rejected hotel project on Harbour Island is coming back, and at twice the height the city once turned down. This time, however, the Tampa City Council has little say in the matter. Liberty Group, a locally-based developer, has submitted plans for a 20-story mixed-income residential building at 800 South Harbour Island Boulevard. The shift from the original hotel concept is no accident: the project is being submitted under Florida’s Live Local Act, which mandates residential-majority developments. Underlying it all is a legal battle that could ultimately reach the Florida Supreme Court. A Law That Changes the Rules The Live Local Act, signed into law in 2023 and amended multiple times since, has emerged as one of the most important pieces of housing legislation in Florida’s recent history. The law allows developments on land designated as commercial, industrial, or mixed-use to bypass traditional zoning hurdles; and for this property, designated as PD or Planned Development, it applies. Under the Act, qualifying developers are entitled to build at the highest height permitted within one mile of their site, access the highest density allowed in the municipality, receive added floor area ratio, and benefit from parking reductions. Most importantly, projects receive administrative approval, meaning they can move forward without going before the public boards that killed the original hotel proposal. The result is a 20-story development with the possibility of zero community input. From Hotel to High-Rise Liberty Group’s history on Harbour Island has been a long one. The developer first proposed a 15-story hotel, then trimmed it to 12 stories, then to 10, each time attempting to address the concerns of a community that remained opposed. Twice in 2022, the Tampa City Council sided with residents, rejecting the developer’s rezoning and land-use requests. It’s a pattern the council has repeated elsewhere, with the most recent denial being Magnolia Court Hotel, a boutique hotel proposal in Bayshore. With those avenues exhausted, Liberty Group pivoted. By resubmitting under the Live Local Act as a residential project, the developer has effectively bypassed the council entirely, provided nothing in the project triggers a formal review. The question that now hangs over Tampa’s development community is a vital one: if a project is denied, can a developer return with something bigger and bypass the process that stopped them the first time? It is a precedent that could reshape how the city council weighs any future denial, knowing that rejection may not be the final word: just an invitation for something larger. A Legal Battle With Statewide Stakes The litigation behind this project has already upset the boundaries of local government in ways that extend well beyond Harbour Island. After the City Council’s second denial, Liberty Group sued, arguing the council had ignored its own rules in favor of political pressure. In 2024, a Hillsborough County circuit court judge dismissed the case, but not on the merits. Instead, the judge ruled that the Tampa City Council, as a legislative branch of government, lacked the legal authority to conduct the quasi-judicial hearings it has used to decide zoning and land-use matters for decades. Florida’s 2nd District Court of Appeal, however, found that the circuit court had erred, reversed the decision, and affirmed that the City Council does hold quasi-judicial authority over zoning decisions. The case has since been sent back to the circuit court for review. Liberty Group’s attorney has since indicated the matter will likely be taken to the Florida Supreme Court, where its resolution could set a precedent. What Gets Built Should the project proceed as planned, the 20-story tower is expected to reach 200 feet. The Live Local Act would technically allow the tower to rise as tall as the highest building within one mile. With 100 North Tampa, the tallest building in the city at 579 feet and sitting within that radius, the ceiling is notably higher than what is currently proposed. The development will contain 178 units ranging from one to two bedrooms. 40% of those units will be held at workforce housing rates for a minimum of 30 years, priced to remain affordable for residents earning up to 120% of the Area Median Income. Under 2025 Live Local rent limits for Hillsborough County, that translates to a maximum of $2,346 per month for a one-bedroom unit and $2,817 for a two-bedroom. The ground floor will house 17,140 square feet of office space, topped by a multi-story parking structure containing 320 spaces. No official renderings have been released, though the building is expected to feature balconies, floor-to-ceiling windows, and other design elements common to Florida high-rises. The project is currently awaiting administrative approval.
Ora Hotel and Residences Nears Groundbreaking in Tampa; Crane and Foundation Permits Filed
Construction is nearing for Ora Hotel and Residences in Tampa, as the city’s first condo-hotel project without short-term rental restrictions begins to show clear signs of forward momentum. Led by a joint venture between Arc Development and Prosper Group, the development team has recently filed multiple applications with the FAA for tower cranes, adding to a growing list of indicators that groundbreaking is approaching. The project, planned for a three-parcel assemblage just north of Water Street Tampa, has been in the works for several years. Earlier this year, the developers secured full control of the block fronting East Jackson Street and North Brush Street in a $22.5 million acquisition, setting the stage for construction to progress. Since then, activity behind the scenes has accelerated, with strong presales, multiple permit filings, and now crane applications all pointing toward a near-term start. Three crane permits were submitted to the FAA. One application covers a 250-foot crawling mobile crane, expected to be used for deep foundation work. That permit outlines a work window from August 1 through July 2027, meaning foundation activity could stretch close to a full year. If the current schedule holds, demolition would likely begin ahead of that, with a summer groundbreaking target. Two additional filings call for tower cranes rising significantly higher, at 532 feet and 508 feet. Those are slated for installation beginning March 1, 2027, and remaining in place until late 2029: a clear timeline for vertical construction. While all three applications are still under FAA review, approval is expected. Beyond the crane permits, the development team has also submitted a range of construction-related applications in recent months. These include a foundation permit under general contractor Kast Construction, along with utility permits, and more. According to recent filings from just a few months ago, Ora Hotel and Residences is set to deliver 658 condo-hotel units, all of which will allow short-term rentals without restriction. The project will also include 12 traditional hotel rooms, 16,000 square feet of ground-floor retail space geared toward food and beverage uses, and 550 parking spaces. Designed by Adache Group Architects, the tower is planned to rise 40 stories, reaching a height of about 465 feet. Once complete, it is expected to become the tallest building east of Tampa’s urban core, standing out prominently along the skyline: at least until future phases of Water Street Tampa begin to fill in the surrounding area. Although a groundbreaking was initially targeted for March of this year, that timeline has since slipped, with the developer now aiming for a summer start. Given the steady stream of positive indicators, that revised schedule appears increasingly likely.
Mixed-Income Apartments Dubbed The Gem Proposed in Hallandale Beach
A new mixed-income development is working its way through the approval process in Hallandale Beach, where Dragonfly Investments has submitted plans for a 12-story apartment building in the city’s Harlem Village neighborhood. Dubbed “The Gem,” the project is proposed for 411 N. Dixie Highway and would bring 170 units to a nearly one-acre assemblage that the city’s Community Redevelopment Agency has been looking to activate for years. The CRA, which owns the entire assemblage spanning roughly 39,000 square feet, launched a formal request for proposals in 2024 with a clear vision in mind: a mixed-use development with retail, a meaningful residential component, and built-in affordability. Four developers threw their names in, with Dragonfly Investments coming out on top. What emerged from that process is a project where 60% (or 102 units) of units are designated as affordable or workforce housing. The CRA’s original RFP outlined specific income tiers targeting households at 30%, 50% and 60% of Area Median Income, with at least five units set aside for senior housing at 20% AMI. But, those targets may look different by the time the project breaks ground. The developer has since indicated that the income structure is still being worked out, hinting that the brackets laid out during the RFP process are likely to shift as the project moves through approvals. Given the changing nature of affordable developments, notably rising costs, this isn’t unexpected. The 170 units will span studios, one-bedroom, and two-bedroom apartments, averaging 706 square feet per residence. The smallest unit will measure 474 square feet, while the largest stretches to 1,116. Regardless of income level, all residents will have access to the same amenity package, which includes a pool, lounge space, and a rooftop terrace (the latter of which was specifically required by the CRA). At street level, The Gem is designed to engage with the surrounding neighborhood. A total of 12,390 square feet of retail space is planned for the ground floor, with 1,000 square feet specifically for a local business. The surrounding streetscape is set to receive wider sidewalks, added greenery, and a colonnade along the building’s perimeter: offering pedestrians some cover from the elements. The Gem itself will sit atop a three-story podium clad in decorative mesh screening, rising to 137 feet at its tallest point, or about 126 feet to the roofline. Corwil Architect, a locally based firm, is behind the design. The facade is characterized by floor-to-ceiling windows, nearly 10-foot ceilings, private balconies, and a gray color palette that has become something of a Corwil signature. The project will feature 256 parking spaces; while the project’s application did not specify the total parking count dedicated to the public, the CRA’s RFP required that at least 50 spaces be owned by the city and made available for public use. The land conveyance (or disposal/transfer) from the CRA to the developer has been approved, although current county documents still show the assemblage under city control. The project is still in the proposal stage, though approval is expected to follow. If things stay on track, Dragonfly Investments is targeting a groundbreaking in the first quarter of 2027.
Moss Construction Tops Out Elemi at Grove Village Phase 2, Planned to Add 27 Apartments
Construction has topped out on the second phase of Elemi at Grove Village, a five-story luxury development in Coconut Grove that will add 27 apartments to a block that has quietly been taking shape for the better part of two years. The project broke ground at the end of 2025 and hit the milestone toward the end of March, with local general contractor Moss Construction announcing the achievement as the structure reached its full height. Elemi Phase Two is being developed by Silver Bluff Development in partnership with Abbhi Capital, and marks the second project the team has brought to the block. The first phase launched successfully last year, delivering 46 rental units, with Moss serving as general contractor on that project as well. Once phase two wraps up, the developer plans to shift its focus to another parcel in Coconut Grove for a much larger project called Bimini Block. All of the developments sit within an opportunity zone, making them eligible for certain tax benefits. Located at 3384 Grand Avenue, the assemblage fronting the avenue was acquired in 2021 and 2022 for $4.4 million. Recent aerial photos released by Moss show the building’s shell nearly complete, with roof installation now underway. Window installation, balconies, facade work and other finishing touches are expected to follow as the project moves toward a completion date early next year. “Moss is proud to celebrate this milestone alongside Silver Bluff,” said Fernando Del Campo, vice president and project executive at Moss, in a press release. “The topping out of Phase 2 is a testament to the strength of our partnership and the dedication of the team working on the project every day. We remain focused on delivering this luxury community with a keen eye for detail, which Moss is known for.” One of the more distinctive features of the development is its layout. Each of the 27 residences will feature a two-story floor plan, with units ranging from one to three bedrooms and each offering its own private terrace. Shared amenities will include co-working spaces, gathering areas, a fitness center and a pool, and more. Pre-leasing is expected to begin later this year. At street level, the building will include 3,111 square feet of retail space geared toward food and beverage uses, along with wider sidewalks, public seating, and additional street foliage. While official elevations have not been released, the building likely topped out at around 60 feet, consistent with height in the surrounding area. The project has not been without criticism. First reported by Coconut Grove Spotlight, some residents have raised concerns about displacement in what is a historically Black neighborhood, pointing to the market-rate nature of the development. Neither phase one nor phase two includes workforce or affordable housing. The developer has acknowledged the concern, however, and says a separate project aimed at below-market rents is in the works for another site in the West Grove.
West Palm Beach Approves Land Transfer for 100% Affordable Development at 2823 Broadway
A vacant lot on Broadway could soon become home to 151 affordable apartments, after West Palm Beach commissioners cleared a major hurdle for the project this week. The proposal is led by 2823 Broadway QOZB LLC, a partnership between New York-based Procida Development Group and Miami’s Tre Bel Housing Development Group. Their plan calls for a seven-story building delivering entirely affordable units, along with ground-floor retail and new public space improvements along a stretch of Broadway that has long been ripe for investment. At the center of this week’s action was the city’s decision to transfer a series of publicly owned parcels to the development team at no cost, a move that marks a shift from earlier expectations that the land would generate some form of payment. The approval, granted unanimously on Monday, applies only to the conveyance itself, with additional steps including an upcoming site plan review still required before the project can move forward in full. The development footprint is made up of a seven-lot assemblage spanning both city-controlled and privately held land. Five of the parcels, located at 2815 Broadway, 2813 Broadway, 2803 Broadway, 601 27th Street and 611 27th Street, are currently owned by the city, while the developer controls the remaining sites at 2823 Broadway and 610 28th Street, bringing the full project area together. Plans for the nearly $68 million development outline 151 units in a mix of studio, one-bedroom and two-bedroom layouts, all priced at or below 80% of Area Median Income. Affordability is distributed across multiple tiers within that structure, with 27 units reserved for households earning 30% or less of AMI, 85 units targeting those between 31% and 50%, and the remaining 39 units set aside for households earning between 51% and 80%. Rents are expected to range from approximately $614 at the lowest end to $2,104 at the highest. Beyond the residential component, the project is positioned to reshape the ground level of that stretch of Broadway in a meaningful way. Plans call for 5,000 square feet of retail space, wider sidewalks, additional greenery and a 7,500-square-foot pocket park, elements intended to bring both activity and public-facing improvements to the corridor. Retail space and units will be supported by a 166-space parking garage in the back of the development, largely hidden from public view. Unlike most apartment development, this development will not feature a pool deck (given the affordability limitations). The effort to redevelop the site dates back several years, when the City Commission designated the collection of properties as surplus and launched a formal solicitation process aimed at maximizing their development potential. Proposals were expected to deliver mixed-use projects capable of acting as catalysts for the surrounding area, with a particular emphasis on affordable and workforce housing. That process ultimately led to the selection of 2823 Broadway QOZB LLC as the sole developer. Alongside the physical development, the agreement includes a set of community benefit requirements tied to the project’s execution. At least 15% of on-site construction workers must be city residents, and no less than 18% of contractors and subcontractors are required to be small businesses based within the city. As planning continues, the development team is also pursuing multiple avenues to reduce upfront construction costs, including tax credits, loan programs and other financing mechanisms that could come into play as the project advances. Several approvals remain before construction can begin, but the land transfer signals a clear step forward, moving forward a project that has been in the works for years.