Inside the $93M redevelopment plans for Jordan Park
New funds have been committed toward the housing and revitalization efforts of Jordan Park, an historic African American housing development in South St. Petersburg.
On Thursday, the St. Pete City Council unanimously approved $2 million in tax increment financing funds from the South St. Petersburg Redevelopment District Fund toward the redevelopment of the Jordan Park housing complex.
An aerial rendering of the Senior Village in Jordan Park.
The funds will go toward the $93.3 million redevelopment of the complex at 1245 Jordan Park Street South. The project entails the rehabilitation of 206 residential units and the construction of 60 new units for the Senior Village.
Plans on the renovations and redevelopment of Jordan Park started several years ago. Earlier this year, the estimate for the project was roughly $71 million.
The Jordan Park redevelopment will include the demolition of 31 existing senior units and the construction of 60 new senior housing units. The units will be comprised of 54 one-bedroom units and six two-bedroom units contained within one three-story garden apartment building, according to city documents.
A rendering of the renovations for the residential units in Jordan Park.
The 206 units were completed in 2003. Over 100 of the units are two-bedrooms, 90 units are three-bedrooms, and there are five, four-bedroom units in a one-story and a two-story building.
Fifteen percent of the units will be for household income levels at or below 30% of the area median income, and 85% of the units for households at or below 60% AMI.
The units will have green energy features such as Energy Star ceiling fans, kitchen appliances and windows.
New York-based Norstar Development USA LP and the St. Petersburg Housing Authority (SPHA) are the co-developers of the project.
The project will happen in phases to decrease any disruption the families living in the units may experience, a representative with Norstar said during the meeting.
Under the agreement, the first payment of $1 million will be made within 45 days after the completion of the first renovation phase of the units. Meanwhile, the second payment of $1 million will be made within 45 days after completion of exterior wall construction for the Senior Village.
A rendering showing the floorplan of the renovated Jordan Park units.
The obligation to pay the second $1 million installment is subject to a written report detailing the experiences and current housing status of residents who were relocated from the first phase of renovation, according to city documents.
Chuck
November 1, 2021at4:44 pm
Let me see if I understand the details. The proposed project is to rehab 206 apartments that are 19 years old and then build 60 little 1 and 2 bedroom units and you are going to spend $93.3 million??? So that would be $300,000 per unit to rehab the apartments = $61.8 million and then spend $525,000 per unit to build 60 little units = $31.5 million? Land development costs are minimal, utilities are already available at the site how can this project cost $93.3 million? A few years ago the Pier project budget was proposed as about $60 million but now it is referred to as the $92 million Pier. Is this project going to start at $93.3 million and grow to $145 million?
Rose Hayes
October 18, 2021at10:38 pm
I find the floor plans confusing. A recent article said there would be one bedroom units and a few 2 bedroom units. The floor plans appears to show different two bedroom units and no bedroom units.
Charlie Guy
October 18, 2021at7:05 am
Yet again a very hopeful sign that there is in fact a very unified community attempt to drastically improve Southside St Peterburg’s historically excluded community and bringing a well deserved dignity to our City’s important Afro America heritage!! Charlie Guy SouthsideGreenway.org
Judith
October 16, 2021at4:38 pm
Where’s the other 91.3 million coming from?