5508

In 1996 THAP's supporting organization Coastal Bay Properties was created and purchased a 31,000 sf storage facility in which to house small minority businesses. Instead of working from home or from their cars, East Tampa small business start-ups could conduct business from affordable office or workspace. In 2014, THAP joined forces in collaboration with its affiliate Coastal Bay Properties, Inc. to begin a five-year plan to transform over five blighted acres on the outskirts of East Tampa's Community Redevelopment Area (CRA) into a not-for-profit business Incubator and complementary Co-Working Garage to help start up companies grow more rapidly. The facility will house approximately 32 early stage incubator and accelerator companies , serve over 100 Co-working members (Collaborists) , and hosts variety of large and small community events -- making East Tampa a destination place for business and entertainment. The $4.5 million East Tampa community-focused project consists of two major components:
1. Renovate a 31,000 square foot storage facility wholly owned by THAP not-for-profit affiliate Coastal Bay Properties, Inc.
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​2. Design a comprehensive suite of shared business resources and services to help East Tampa entrepreneurs clear the many obstacles to realizing the potential of their businesses.

5508 has multiple rentable spaces available for meetings and events.