PROPERTY DESCRIPTION: Oak Grove Commons at University Redevelopment Site – 3.25± Acres in Prime North Tampa Location Presenting a rare investment and redevelopment opportunity in the heart of North Tampa, this Redevelopment Site consists of four contiguous parcels, ideally situated within a designated Opportunity Zone, offering significant potential tax advantages for developers and investors. Property Breakdown: - Parcel 1 (Folio #035835-0100): ±0.45 acres, improved with a single-family home and a one-story duplex - Parcel 2 (Folio #035835-0000): ±1.10 acres, improved with six existing duplexes - Parcel 3 (Folio #035834-0000): ±0.46 acres, improved with a single-family home - Parcel 4 (Folio #035832-0000): ±1.24 acres, improved with a single-family home With utilities already in place and income-producing structures currently on-site, this property offers flexibility for both immediate cash flow and future redevelopment potential. The existing improvements could be reconfigured, upgraded, or fully redeveloped into a higher-density multifamily asset, capitalizing on the site's favorable zoning and growing demand for rental housing in the area. This property is ideally suited for a developer seeking a mid-sized multifamily project, workforce housing, or a residential concept in one of Tampa’s most active redevelopment corridors. The combination of in-place infrastructure, current rental income, and long-term development upside makes this a compelling offering in a supply-constrained rental market. DEVELOPMENT DESCRIPTION Test Fit & Density Analysis: Preliminary test fit analysis indicates the development of multifamily could be developed here and provide for upwards of 158 +/- units are possible to be developed on the site by taking advantage of the future land use zoning (R-20) that allows for 20 units per acre, plus Greywater and Affordable Workforce Housing increased density options. Opportunity Zone Information: This site also sits within Census Tract 108.16 which is a Low-Income Community Opportunity zone located within University, FL. This 0.5 square mile census tract has an approximate population of 3,900 people currently and is one of 32 opportunity zones in Hillsborough County. Therefore, there may be possible tax incentives to develop on this site. 2025 Qualified Census Tract: Additionally, the site is within the 2025 Qualified Census Tract (QCT) and Difficult Development Areas (DDAs) that went into effect as of January 1, 2025. Under a QCT, this site could be eligible for certain benefits under the Low-Income Housing Tax Credit (LIHTC) Program that has been put in place to help incentivize development of affordable housing in this area. LOCATION DESCRIPTION Outstanding 150 +/- Unit Multifamily Infill Redevelopment Opportunity in the Heart of North Tampa. The Site presents a compelling opportunity for the redevelopment of a prime property in one of Tampa's most strategically positioned areas. This infill site is just minutes from major economic, educational, and recreational hubs, offering future residents an ideal balance of connectivity, convenience, and lifestyle. Consisting of four contiguous parcels in unincorporated Hillsborough County, it offers a compelling canvas for multifamily development. The property is ideally positioned within the rapidly growing USF/Moffitt corridor, a zone marked by strong residential demand, institutional expansion, and long-term upside. Educational & Institutional Anchors: The site is close to the University of South Florida (USF)—one of the largest public universities in the country with over 50,000 students and 16,000 employees—provides a steady demand for housing from students, faculty, and staff. The area is also served by Hillsborough County Public Schools, making it attractive for families. Additionally, the Moffitt Cancer Center, James A. Haley Veterans’ Hospital, and other USF-affiliated medical and research institutions offer high-quality healthcare and thousands of stable, high-paying jobs. Retail, Dining & Entertainment: Residents will enjoy proximity to a diverse mix of retail and dining options, including University Mall, which is undergoing a transformative redevelopment into the RISE Innovation District, a new mixed-use research and technology hub. Popular national retailers, grocery stores, and restaurants are located within a short drive, while Busch Gardens Tampa Bay, Adventure Island, and the Museum of Science and Industry (MOSI) provide premier family entertainment just minutes away. Transportation & Accessibility: The site benefits from exceptional connectivity via I-275, I-75, and Fowler Avenue, enabling easy access to Downtown Tampa, Tampa International Airport, and the Westshore Business District—home to over 4,000 businesses and major employers like Raymond James, Amgen, and PwC. Public transportation options, including HART bus lines, enhance accessibility for residents without personal vehicles. Tampa’s Strong Growth & Quality of Life: As one of Florida's fastest-growing cities, Tampa boasts a robust economy, a favorable business climate, and a high quality of life. The surrounding area is seeing increased investment and redevelopment activity, supported by Tampa’s ongoing efforts to improve infrastructure, transit, and affordable housing.