College Town is a project of the Seminole Boosters including a 134,000 square foot mixed-use project on approximately 4 acres of designated brownfield. This exciting development project represents a $27 million investment and will include 60,000 square feet of retail space and 71 residential apartments. After almost two years in the planning and design stages, the project closed on December 14, 2011, and is now underway with construction scheduled to finish mid-2013.
CTA CDE and Cordish Development combined to allocate $27.2 million of NMTCs to this project. Designed to not only meet, but to exemplify the district's design guidelines and zoning this project has the potential to encourage further investment and development in the area and foster the City of Tallahassee's plans for revitalization of the Gaines Street District. In response to the City's long-time commitment to the thoughtful design and planning and its significant financial investment in the revitalization of the Gaines Street District, the Seminole Boosters, Inc. are working together with the Florida State University, the City of Tallahassee, CRA, as well as private investors to create a lively, mixed-use development in the vicinity of the university's southern edge with places to live, work, shop, dine and visit.
As an initial phase of a broader vision for the Gaines Street District, this pioneering project will serve as a catalyst for other development and help Tallahassee emerge as Florida's pre-eminent destination for university study by offering a fully integrated learning environment incorporating the college town experiences that students across the nation desire.