Groundbreaking Set For Long-Awaited Redevelopment Project

TEMPLE TERRACE, FL — It's been a long time coming -- 20 years to be exact. On Wednesday, the City of Temple Terrace will host a groundbreaking ceremony for the first project of the city's long-awaited downtown revitalization plan.

Elected officials, movers and shakers, city staff and residents will join the Richman Group Development Corp. for a ceremonial groundbreaking to mark the start of construction of Waverly Terrace Feb. 26 at 12:30 p.m.

City leaders say this is the first of several projects that will begin over the next 24 to 36 months designed to breathe new life into Temple Terrace.

Located on five acres at 8901 Bertha Palmer Blvd. (formerly Main Street) near Bullard Parkway in Temple Terrace, Waverly Terrace will consist of 200 luxury apartments occupying two Mediterranean-style, four-story buildings. The complex will have a resort-style pool and sun deck, private cabanas and spa, outdoor grilling stations, fire pits and wi-fi hot spots.

“The Richman Group is incredibly excited to be an integral part of the renaissance that is
happening in Temple Terrace,” said Todd Fabbri, president of the Richman Group of Florida.
“With the convenient location, dynamic amenities planned and stunning residences, Waverly
Terrace will set the standard for luxury apartment living.”

The Richman Group, the country’s seventh-largest rental apartment owner, is the developer of the Aurora, another high-end apartment complex in downtown Tampa that opened in 2016.

Waverly Terrace is the first of the pending projects in the city’s redevelopment area.

The Paragon Property Group is expected to begin construction on a multi-structure, mixed-use
commercial development that will include a Chase Bank and Starbucks later this year.

The redeveloped downtown Temple Terrace has been a long time coming.

The Temple Terrace Community Redevelopment Area was adopted in 1999 with the goal of eliminating the blight that was creeping into the city's downtown area.

The designated downtown redevelopment area encompasses an area stretching along the east side of 56th Street from Bullard Parkway to the Hillsborough River.

In 2000, the city council borrowed $24 million to purchase 29 acres to sell to developers who shared the council's vision of creating a revitalized downtown district consisting of cultural arts facilities, quaint shops, restaurants and park space.

The city established architectural guidelines for the CRA emphasizing the Mediterranean Revival style used on many of the city's historic homes and buildings when Temple Terrace was developed in the 1920s.

However, with the start of the recession in 2002, proposals by developers fell through one after the other.

The redevelopment plan was reignited in 2017 when the city council approved the sale of a 2.85-acre parcel on the corner of 56th Street and Busch Boulevard in 2017 to Paragon Property Group to be redeveloped with five freestanding structures totaling 22,000 square feet, including a bank, restaurant, retail and professional office space.

The next step came last May when the city sold a 2.44-acre parcel at 8633 N. 56th St. south of Chicago Avenue to Enigma Events LLC for $1.5 million. Enigma plans to develop the property, once home to a 30-year-old car repair shop, a discount retailer and the old city post office, into 26,000 square feet of boutique retail center and restaurant.

Plans submitted by Enigma show a retail center with a contemporary exterior and a covered walkway running along the storefronts on all four sides of the building.

Additionally, the city is negotiating deals for more development including a possible hotel.

But Wednesday's groundbreaking of Waverly Terrace is the first tangible sign of progress in the city's vision to create a distinctive downtown.

Additionally, it puts the city one step closer to paying off its 20-year-old debt on the $24 million loan.

See related stories:

• Temple Terrace Site To Be Redeveloped Into Boutiques, Eateries
• Temple Terrace Redevelopment Redevelops Questions
• Will Temple Terrace's Redevelopment Plan Work?