Clearwater is moving forward with Washington Commons after the Community Redevelopment Agency agreed to sell seven publicly owned parcels for the proposed mixed-use development. The project would add 178 income-restricted apartments, commercial space and parking, supporting the city’s plans to expand downtown housing and encourage redevelopment.
Key Takeaways
- Clearwater CRA agreed to sell seven downtown parcels for the Washington Commons development.
- The proposed project includes 178 income-restricted affordable apartments.
- Plans include two five-story buildings with ground-floor commercial space and parking.
- Development depends on securing Florida Low-Income Housing Tax Credits.
- The project supports Clearwater’s downtown residential redevelopment strategy.
The Clearwater affordable housing project moved a step closer to development after the Clearwater Community Redevelopment Agency (CRA) agreed to sell seven publicly owned parcels to BDP Development Partners. The proposed transaction would allow the developer to move forward with Washington Commons, a mixed-use residential project planned for downtown Clearwater that includes 178 income-restricted apartments.
The planned development represents one of the largest affordable housing proposals currently slated for downtown Clearwater. In addition to expanding the local housing supply, the project is intended to support the city’s ongoing redevelopment efforts by bringing additional residential opportunities to the urban core.
Clearwater CRA Approves Sale of Seven Downtown Parcels
The Clearwater Community Redevelopment Agency approved the sale of seven properties under its ownership for approximately $2.52 million. The parcels are located between South Martin Luther King Jr. Avenue, South Washington Avenue and Gould Street in downtown Clearwater.
The agency has identified the site for redevelopment as part of its strategy to increase residential development in the downtown district while encouraging private investment on publicly owned land. The proposal follows other downtown initiatives, including the site preparation for the EVO Entertainment complex, aimed at supporting redevelopment in the city center.
The agreement authorizes BDP Development Partners to acquire the property for the proposed Washington Commons development, subject to the conditions outlined in the purchase agreement.
Redeveloping the site is intended to transform land currently controlled by the CRA into a mixed-use residential project that contributes to the city’s long-term downtown housing objectives.
Washington Commons Plans 178 Income-Restricted Apartments
Residential Buildings and Site Layout
Washington Commons is planned as a two-building development containing a total of 178 apartments.
The first five-story building would include 84 residential units along with amenities designed for residents. A second five-story building would provide an additional 94 apartments, bringing the project’s total residential capacity to 178 units.
Every apartment is proposed as income-restricted housing for households earning up to 80% of the Area Median Income (AMI). That affordability requirement is intended to expand housing opportunities for qualifying residents while supporting Clearwater’s residential development goals.
The project would become one of the largest affordable housing developments currently planned for downtown Clearwater if completed according to the proposed plans.
In addition to residential units, Washington Commons would include approximately 3,000 square feet of ground-floor commercial space intended for retail or neighborhood-serving businesses.
The development also includes plans for more than 200 parking spaces to accommodate residents and visitors. Similar multifamily projects have continued to secure financing across the Tampa Bay region, including a $107.7 million apartment financing package for another residential development.
Mixed-Use Development Includes Commercial Space and Parking
Washington Commons combines residential housing with commercial uses in a single mixed-use development.
The commercial component is concentrated at street level, creating space for businesses while maintaining residential apartments above. This design supports pedestrian activity within the surrounding downtown neighborhood.
The proposed parking facilities are intended to serve both residential and commercial uses, helping meet parking demand generated by the development.
The project site occupies a prominent location within downtown Clearwater, positioned between several established streets that connect surrounding residential and commercial districts.
City redevelopment efforts have emphasized increasing the number of residents living downtown as part of broader plans to strengthen local business activity and encourage additional investment. The emphasis on expanding housing capacity mirrors other regional projects, including the University of Tampa student housing expansion that will add new residential units to the area.
Washington Commons aligns with that objective by adding new housing while incorporating commercial space within the same development footprint.
Affordable Housing Financing Remains a Key Project Requirement
Photo Credit: Unsplash.com
Low-Income Housing Tax Credit Process
The proposed development remains contingent upon financing through the Florida Housing Finance Corporation’s Low-Income Housing Tax Credit program.
The tax credit program serves as a primary financing source for many affordable housing developments across Florida by supporting projects that reserve housing for income-qualified households.
BDP Development Partners must secure an allocation of Low-Income Housing Tax Credits before construction can proceed.
The financing requirement represents a significant milestone for the project because the tax credits provide a key component of the overall development funding structure.
Without approval through the state program, the proposed construction schedule cannot move forward under the current development plan.
Proposed Construction and Occupancy Timeline
If financing is secured, construction could begin in late 2028.
Current project plans indicate that the first residents could begin occupying the development in 2030 following completion of construction.
Those dates remain dependent upon the successful completion of financing and subsequent development activities required before construction begins.
Downtown Redevelopment Strategy Continues Through Public Land Reuse
The Washington Commons proposal reflects Clearwater’s continued use of publicly owned property to support redevelopment initiatives within the downtown area.
The CRA designated the site for redevelopment to expand housing opportunities while returning publicly owned land to private development.
The project also follows additional public property redevelopment efforts within Clearwater. Earlier this year, Pinellas County approved plans to market 32 county-owned properties throughout the city as government operations transition to a new campus in Largo.
Those properties create additional opportunities for future residential, commercial and mixed-use redevelopment across Clearwater.
For Washington Commons, the focus remains on expanding the downtown residential population through affordable housing. City redevelopment plans identify additional housing as an important component of creating a more active downtown district that supports existing businesses and future investment.
By combining income-restricted apartments, commercial space and structured parking on publicly owned land, the proposed development advances multiple redevelopment objectives through a single project.
If completed, Washington Commons would add 178 affordable apartments to downtown Clearwater while introducing new commercial space and placing underused public property into private redevelopment.
Frequently Asked Questions
What is the Washington Commons affordable housing project?
Washington Commons is a proposed mixed-use development in downtown Clearwater that would include 178 income-restricted apartments, ground-floor commercial space and more than 200 parking spaces.
How many apartments are planned for Washington Commons?
The proposed development includes 178 affordable apartments across two five-story residential buildings.
Who is developing the Clearwater affordable housing project?
BDP Development Partners is the developer selected to purchase the seven CRA-owned parcels and advance the Washington Commons project.
What financing does the project require before construction?
The project depends on receiving Low-Income Housing Tax Credits through the Florida Housing Finance Corporation before construction can begin.
When could Washington Commons be completed?
If the required financing is secured, construction could begin in late 2028, with the first residents expected to move into the completed development in 2030.
