New affordable housing developments planned for St. Pete

Covid-19 has further illuminated the dire state of affordable housing stock throughout the county, as low and middle income families struggle to pay mortgages, rent and other living expenses.

In a bright spot, four affordable multi-family housing projects may soon be on their way in St. Petersburg. The four projects, presented to the City of St. Petersburg’s Housing, Land Use and Transportation committee are expected to add 186 affordable housing units in various neighborhoods throughout the city.

The four projects have each been awarded funding from the City of St. Petersburg, and three of the four have been awarded funding by the Florida Housing Finance Corporation (FHFC).

Avery Commons / Skyway Lofts, two projects totalling 65 units, will be developed by Blue Sky Communities. The developments are proposed for construction in the Skyway Marina District, and will be located at 3900 34th Street South & 3319 39th Avenue South. A majority of the units in these projects will be for residents making at or below 60 percent of the area median income (AMI). Nine will be for households at 80 percent of AMI and 10 units will be for those with incomes at or below 30 percent AMI.

The project has been awarded a $90,000 loan from the City of St. Petersburg, and allocated funding by the FHFC.

The Shores, a single development proposed by The Richman Group of Florida, at the southwest corner of 26th Avenue and 31st Street. S., will include 51 garden-style units. The units will be a mixture of one, two and three-bedroom apartments. A majority of the units will be for residents at or below 60 percent of AMI, and six units will be for those with incomes at or below 35 percent of AMI.

The project has been awarded a $567,500 loan from the City of St. Petersburg and was recently awarded $11 million funding by the FHFC. It is still in the underwriting and approval process.

Butterfly Apartments, a single development proposed by Pinellas Affordable Living, Inc. at 506 Grove Street North, at the site of a currently-boarded building. The project will include 20 units of supportive housing for people with Special Needs.

The project has been awarded a $75,000 loan from the City of St. Petersburg and funding has been allocated by the FHFC. Approval of building plans for the development must occur for the FHFC to close their allocated loan.

Innovare, a single development proposed by Volunteers of America of Florida, is proposed for the southeast corner of 5th Avenue S and Dr. Martin Luther King Jr. Street S. The development is proposed for 50 units, 70 percent of which would be awarded to formerly homeless. The other 30 percent of the units would be for residents at or below 80 percent of AMI.

The project has been awarded a $75,000 loan from the City of St. Petersburg, and has been recommended by the staff of the FHFC. Final awards and approval have not yet occurred.