Money will not matter at St. Pete housing development

Two nonprofits have joined forces to provide the homeless, disabled and domestic abuse survivors affordable housing in St. Petersburg; some may not have a rent bill.

St. Vincent de Paul CARES (SVdP) and Ability Housing, a nonprofit affordable housing developer, recently broke ground on Vincentian Village at 401 13^th St. N. The $28 million project will provide 73 apartments and several wraparound services.

SVdP CARES works to end homelessness, and the organization boasts an 80% success rate with those who receive care. That percentage will likely increase with the new development.

“Income will not be a barrier to get in there,” said CEO Michael Raposa. “We only charge 30% of a person’s income. In instances where income is zero, it’s still 30% of zero – which is zero.”

The nonprofit will technically cap rents at 60% of the area median income (AMI). Raposa said the city is “clearly in a housing crisis,” as rents have tripled for some staff members.

Area homeless agencies will provide resident referrals. In addition to safe and modern housing, Vincentian Village will provide individualized and community-based care.

At least 15% of the six-story building’s units are for people with disabilities, and Raposa expects many people to rely on fixed incomes. Those receiving $900 monthly would pay $300 in rent.

He said support personnel would also help those who can work find jobs. SVdP CARES’ leadership selected the site – less than a quarter mile from the nonprofit’s local shelter – to ensure residents can access public transportation, primary healthcare, behavioral health services, employment opportunities and workforce training facilities.

Raposa said SVdP CARES oversees similar housing developments throughout Florida. “To say we’ve never had an issue where people get in there and they can’t pay is not true,” he added. “But it is not common.”

The organization partners with local housing authorities to help residents receive rent vouchers. He said SVdP CARES is also working with the U.S. Department of Housing and Urban Development (HUD) to receive funding for military veterans.

“This is going to make me sound really stupid as a CEO, but money is not the first concern,” Raposa said. “The client is the first concern.”

The developers expect to welcome Vincentian Village’s first residents by the fall of 2025. Photo: Talonda Yates.

Jacksonville-based Ability Housing has a similar focus. CEO Shannon Nazworth noted that the two organizations collaborated on smaller projects in Pasco County, and she and Raposa have “known each other for many years” through homeless advocacy.

Nazworth “happily agreed” to partner on Vincentian Village. Her nonprofit development firm will ensure the units remain affordable “in perpetuity, even long after any kind of restrictions from funding sources.”

Vincentian Village will provide 50 one-bedroom and 23 two-bedroom apartments. The 1.66-acre property will feature a community center, computer lab, library, workshop and training areas.

“To us, housing is not the end product,” Nazworth said. “It’s the tool we use to achieve our outcomes, which is an improved quality of life for individuals and communities. Yes, we could make more money doing market-rate and high-end … but that’s not why we exist.”

In October 2022, the City of St. Petersburg allocated $1 million from American Rescue Plan Act funding to the project. The Florida Housing Finance Corporation provided a $2.25 million Viability Loan and low-income tax credits.

SVdP CARES and Ability secured a $15 million construction loan from TD Bank and a $7.48 million equity investment loan from Raymond James Affordable Housing Investments.

Nazworth said Ability faces the same market pressures as any other developer. She noted that insurance costs are now “astronomical” and “it is harder now to do it than it was before.”

“But that’s why you need nonprofits like us and St. Vincent de Paul in this space,” Nazworth added. “Nonprofits just … find ways to make it work. It really is about persistence and leveraging resources.”

She explained that construction costs were escalating when the partners requested funding from city officials. Nazworth said the mayoral administration and city council “really stepped up and helped us with this project.”

She said the wraparound services will help offer the formerly homeless a new lease on life. Staff will accommodate resident workshop requests, like nutrition or resume-building seminars.

Nazworth said Ability’s leadership recently established a goal to lend their construction and capital-raising expertise to other nonprofits. While local leaders often request the firm’s services, she noted that “we say no a lot.”

Nazworth said Ability only works in areas with strong community support for affordable housing projects. Local leaders must also embrace best practices to mitigate homelessness.

“And that’s why St. Petersburg was definitely something we were interested in,” Nazworth said.

The partners expect Vincentian Village to open in the summer or fall of 2025. Clearwater-based Bradley Construction company is the general contractor.