The Real Deal Miami

Miami-based firm raises $21.5M for community development district in Tampa

Proceed from the bond issue are expected to fund construction of new roads, sidewalks, parking garages and other public infrastructure projects
September 24, 2017 03:00PM

The Heights area of Tampa is located northwest of the city’s downtown.

Miami-based FMSbonds Inc. raised $21.5 million of tax-exempt bond financing to help the Tampa-based Heights Community Development District fund the construction of public infrastructure.

Proceeds from the bond issue conducted by FMSbonds are expected to fund construction of new roads, sidewalks, parking garages and other public infrastructure projects in the 43-acre Heights Community Development District.

Tampa-based SoHo Capital, a private equity firm, is the company behind the planned development of the Heights area, which includes construction of a boutique hotel and a residential project, plus offices and retail space.

“The epicenter of this mixed-use development is the historic Armature Works building, which is being transformed into the Heights Public Market, event hall, and co-working space,” said Adam Harden, co-founder of SoHo Capital, in a prepared statement.

The Armature Works, part of the first phase of the Heights development, is expected to open in November.