Fowler Innovations is a mixed-use redevelopment project in Tampa, Florida, created to transform one of the few remaining commercial parcels of its kind in Hillsborough County. Fowler Innovations is a project brand established by the Logan Family, owners of the property, and referred to herein as Logan Properties (LP). The project site consists of approximately 26 acres located at the southeast corner of Fowler Avenue and Nebraska Avenue, just east of I-275 in north Tampa. It is one the major gateways of the Tampa’s 19-square mile Innovation District where diverse industry clusters of technology, health care, education and entertainment coexist – a community where one in six jobs and one in three businesses within the area are high tech. Its strategic location near well-established residential neighborhoods, the downtown core, and major economic drivers—such as the University of South Florida (USF), Busch Gardens, James A. Haley Veterans’ Hospital, Moffitt Cancer Center, and AdventHealth—makes this site an ideal location for medical office hotel/hospitality, retail, and multifamily residential development.
The site’s excellent access to major transportation corridors, including adjacency to an active CSX rail corridor, also makes it a strong candidate for future transit oriented or multimodal considerations, providing long-term value in connectivity and mobility.
Fowler Innovations (FI) is working closely with Tampa-IP Innovation Partnership/Soaring City Innovation Partnership, FDOT, Hillsborough County, the City of Tampa, and other public and private stakeholders to create a transformational development that will serve as a catalyst for economic growth and deliver long-term benefits to the surrounding community.
Fowler Innovations is adjacent to major transportation arteries including the CSX rail line, I-275, Fowler Avenue (SR582) and Nebraska Ave. (U.S. 41) which link this property to downtown Tampa, Tampa International Airport, Pinellas and Pasco counties.
FI is within close proximity to more than 50 national credit tenants including CVS, Bank of America, McDonalds, Taco Bell, Sears, AT&T and O'Reilly Auto Parts. The property is also within minutes of the Museum of Science and Industry, Yuengling Brewery and Busch Gardens. Consistentlty high traffic counts of 54,000 AADT on Fowler and 26,000 AADT on Nebraska support future development on this site.
Distance Travel Time
Amalie Arena, Down Town 8mi. 15min.
Tampa International Airport 14mi. 20min.
USF Sun Dome 3mi. 8min.
Tropicana Field 35mi. 30min.
Clearwater Beach 32mi. 45min.
Hyde Park Village 10mi. 20min.
Wesley Chapel 14mi. 17min.
International Mall 12mi. 34min.
An Opportunity Zone is an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
Opportunity Zones are an economic development tool—that is, they are designed to spur economic development and job creation in distressed communities.
Opportunity Zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the QOF investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%. Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged.
Opportunity Zones were added to the tax code by the Tax Cuts and Jobs Act on December 22, 2017.
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Fowler Innovations
1716 West Lemon Street, Tampa, Florida 33606, United States