Investing in a Neighborhood

The GTE Federal Creadit Union's new $23 million headquarters is surrounded by an interstate offramp, a boarded up house, and an aging public housing complex. However, they are optimistic about the location because it is withing easy commuting distance of workers, is in an enterprise zone offering tax rebates, and the property was a relative bargain. GTE will join two other large employers nearby, creating an employment base of 1100 in the area. Residents and city officials hope that the company's investment in the area will provide more employment in the area, spark more investment, and cause home prices to appreciate. The city hopes that the neighborhood will be a bridge between downtown and the Ybor historic district to the east.

Thanks to Peter Christensen