About 5508 Co-Working & Collaboration Exchange
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.
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.