Fort Hesterly is a four-story, 610 unit
mid-rise mixed-use development situated on Howard Avenue on the
former Fort Homer Hesterly Amory, a 10 acre parcel in the heart of
West Tampa. This development will include 74,346 sq. ft. of retail
and 1278 parking spaces. With a project cost in excess of
$160,000,000.00, project Fort Hesterly's development cost is more
than $60,000,000 greater then its nearest competitor.
Developed by Landmarc Realty it will be built in three phases
over a period of 6 years. Fort Hesterly offers the highest quality
of unit finishes and property amenities in the marketplace, making
it a truly unique property.
Fort Hesterly will contain a promenade on the interior of the
property which will allow for community gathering, outdoor
restaurant seating and space for musicians and artisans, while
providing the ideal outdoor setting for Tampa residents to shop.
Every apartment home is apportioned with stylish, modern
features. From the lofty 10’-12’ ceilings with exposed ductwork to
the custom stained concrete or hardwood flooring, Fort Hesterly sets
the standard for urban living.
Along with extraordinary home features the property offers an
array of amenities that make for a truly unique lifestyle for the
residents in Fort Hesterly. These include two resort
style pools. These pools are surrounded by lushly landscaped
courtyards with intimate arbors and seating areas providing for an
escape from everyday life.
Inside the clubhouse there is a fitness center fully equipped
with weight machines and cardio equipment. The lounge area has a
billiards table, high definition television center and a business
conference room.
Our proposal calls for the building of two, six story parking
garages as well as providing parking along the promenade. Under
current Tampa City
Code the required number of parking spaces is 1219. The computation
is as follows, Residential 1.5 spaces for 1and 2 bedroom units (921
spaces required) Commercial 4 spaces per 1000 sq./ft (298 spaces
required). We are providing 1279 spaces in parking garages
and along the promenade, or fifty nine (59) extra parking spaces.
Our proposal has taken a long term
approach to the redevelopment of a key resource for both the City of
Tampa and the West Tampa neighborhood. By devising a plan which not
only pumps millions of dollars directly into West Tampa, but
provides a constant economic stream of both money and jobs, our hope
is that Fort Hesterly becomes a principle anchor and example for
West Tampa redevelopment.
Our proposal also addresses the need for
additional housing throughout all of Tampa by increasing the housing
stock. Additionally, by providing owner occupied housing we are
encouraging individuals to be committed to the West Tampa
neighborhood.
Our proposal, while not looking to the past,
recognizes past sacrifices and contributions of Tampa citizens. To that end, we will commission four
statues to be placed on the site commemorating events on
the site and in Tampa. By looking forward and clearing the site,
our proposal, permanently removes environmental contaminates, and
insures that land is being used for its highest and best economic
use.
Our proposal calls for NO GOVERNMENT FUNDS, CREDITS OR
SUBSIDIES, while providing jobs, homes and opportunities to the
citizens of Tampa. With a project devised by, built and owned by a
West Tampa business, we are uniquely positioned to know and respond
to community needs and concerns. For the past two years,
representatives of Landmarc Realty have devoted their time and
resources to the West Tampa Economic Plan and the West Tampa
Volunteers, whom have devoted their time to the revitalization of
West Tampa. Our goal is not to make a quick buck and leave town.
Our intent is to be a permanent fixture
in West Tampa, and to use this project to help promote, both
socially and economically, all West Tampa residents.
Key Economic Details:
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Community Concern |
Response |
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How much will this proposal cost
taxpayers? |
Nothing, there are no tax credits,
government subsidies, or grants used for this property. In-fact
by redeveloping the entire property we will generate in excess
of One Million Dollars a year in real estate taxes to the City
and over $3.2 million for the City and County combined. |
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Is there any affordable housing
provided? |
We have committed to providing 8
units of affordable housing or over 1% without any
City/State/Federal money or subsidies. |
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What about the historic character
of the site? |
We have agreed to limit the height
of the structure to 4 stories for the outer building and 6 for
the parking garage, thus respecting the height limits of the
cigar factories in the neighborhood.
Additionally we have committed
to the installation of 4 statues commemorating events at the
site. |
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What is being done about the
asbestos on the site and possible ground contamination? |
As part of our demolition work on
the site 100% of all asbestos will be permanently removed.
Additionally, the entire site will be tested for ground
contamination and should any be found it will be 100% abated,
thus insuring a completely clean site. |
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What are the economic benefits to
West Tampa? |
As a business located in West
Tampa we have worked with residents during the past years on
their economic development plan. This work has given us a
unique view of the problems West Tampa faces and the concern of
its residents.
We will be awarding 10% of
the project costs to West Tampa Businesses. Thus pumping $15.3
million dollars directly into West Tampa. Additionally the
current money multiplier effect in effect for Tampa is five
times (according to the Tampa Independent Business Alliance)
which results in an $86.5 million dollar impact on the Tampa
economy.
We will create 2 2,000 sq.
ft. rent free spaces (5 year term) for West Tampa businesses.
This will allow residents to have a chance to start businesses
while avoiding one of their greatest expenses, rent.
As well, the creation of
over 74,000sq./ft. of new commercial space will create new job
opportunities. |
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What other benefits will this
development provide to the City of Tampa? |
Besides all of the above
described benefits our project will have many other benefits to
the City. Currently
many of the areas surrounding the site, are plagued with
congested streets caused by on street parking. Our development
will provide for parking entirely internalized to the site and
will help alleviate the congestion problems in the surrounding
neighborhoods.
The increased density of the
project will enable the City to use this location as an
additional hub to provide for bus service in this area of
Tampa.
With the creation of new
retail space and the residential units in place to support it,
over 200 jobs will be created.
Increase in the housing
stock for the City of Tampa. With growth rates outside the City
limits currently outstripping growth within the City this
project will help Tampa maintain its growth rate. |
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Why Build the project in three
stages? |
By building the project in stages
we will create a long term economic impact on Tampa. This will
insure demand for both the residential and commercial components
of the project. |
