In Tampa’s Palm River–Clair Mel neighborhood, developers have officially broken ground on Rio Palma Apartments, a $38 million, 90-unit affordable housing project that is being billed as family-focused rental housing with a supportive twist. Several units are reserved for residents transitioning out of homelessness and for people with disabilities. County officials joined Tampa-based developer Blue Sky Communities at Thursday’s ceremony to mark the start of construction.
According to Business Observer, Rio Palma will bring a mix of 16 one-bedroom, 50 two-bedroom and 24 three-bedroom apartments to the area. Five of those units will be fully equipped for people with disabilities, and nine will be set aside for residents who were formerly homeless. The outlet reports that half of the community’s units will be offered at below-market rents for households earning 60% to 80% of the area median income, roughly $50,000 for a two-person household, while the remaining apartments will target households at 30% to 50% of AMI. Business Observer also notes that the project is being developed by Blue Sky Communities on land the firm purchased in 2025.
Design, Amenities And Vouchers
Per the project’s listing on the Rio Palma Apartments website, the development is set to feature modern energy-efficient systems and in-unit washers and dryers, plus shared amenities such as an exercise room, a community center and a playground for children. The property page also states that the complex will accept Section 8 vouchers, VASH and other agency rental assistance to widen access for low-income households.
The project’s site lists the future address as 7200 Causeway Blvd and carries an “Anticipated Opening Winter 2026” notice. At the same time, it makes clear that no application or rental information will be available before Fall 2026, inviting interested households instead to sign up for email updates while the development moves forward.
Funding And The Land Deal
Business Observer reports that Blue Sky paid about $2.5 million in 2025 for the Causeway Boulevard parcel, citing Hillsborough County Property Appraiser records. Hillsborough County, the outlet notes, also contributed approximately $1.2 million in SHIP and HOME funds to help finance the development. Those local dollars are being layered with federal and private financing tools that are commonly used to bring low-income housing projects to life. For context, Hillsborough County Affordable Housing Services administers federal and state funding and community-development programs that support projects like this, according to the county’s housing pages.
Developer Track Record And Local Context
Blue Sky Communities, founded in 2012, says on its website that it has developed roughly 30 communities that collectively house more than 3,000 families across Florida. The company is hardly a newcomer to the Tampa market: coverage of its Adderley apartment complex underscored the firm’s growing footprint in the city. Local leaders have increasingly leaned on public-private partnerships like this to add family-sized affordable units in neighborhoods feeling the squeeze of rising housing costs.
Rio Palma will not single-handedly close Tampa’s affordability gap, but it does bring additional family-sized and supportive units to a neighborhood that has lacked them. Prospective renters will want to keep an eye on the project’s sign-up list and county announcements for precise leasing dates, eligibility requirements and the formal application window once it opens.
