In an effort to spur the development of needed affordable housing, Pinellas County commissioners in May approved $12.51 million in funding to support four projects that will bring 307 new units to the area.
The units will be reserved for families and individuals who make 80% or less of the area’s median income. In the case of Pinellas, that’s $65,740 per year for a family of four.
In a statement, the county says one out of three families in Pinellas spends more than a third of their income on housing — rent and mortgage.
The additional funding brings the number of affordable housing projects approved or under construction in the county to 10, bringing an additional 1,000 workforce and affordable housing units, according to the statement.
The four projects that will get a portion of the $12.51 million are:
Skyway Lofts II
- 66 apartments at 3800 34th Street S., St, Petersburg
- Total project cost: $22.99 million
- Pinellas support: $3.4 million in Penny for Pinellas funds; St. Petersburg is also providing $6.5 million for the project
- Developer: Blue Sky Communities
Burlington Post II
- 75 units for seniors at the corner of Burlington Avenue North and 33rd Street North
- Total project cost: $28.41 million
- Pinellas support: $3.750 million, including $3.5 million in Emergency Rental Assistance funds and $208,023 in Housing Trust funds; St. Petersburg is providing an additional $5.625 million
- Developer: Green Mills Group
Lealman Heights
- 86 apartments in the Lealman Community Redevelopment Area, which is west of Interstate 275 and south of Park Boulevard. The new apartments will replace 38 older units on the property in need of “significant investment.” (Current tenants will get help to find alternate affordable housing and will be able to move back when the project is complete.)
- Total project cost: $23.59 million
- Pinellas support: $2 million in federal Neighborhood Stabilization funds
- Developer: SP Pinellas II
Heritage Oaks
- 80 new apartments for seniors to replace 48 existing units in the Rainbow Village public housing community at 12455 130th Avenue N., Largo. (Current residents will be relocated during construction and offered one of the new units when the work is completed.)
- Total project cost: $28.98 million
- Pinellas support: $2.5 million in federal HOME Investment Partnership Program and Community Development Block Grant funds; $860,000 in state Housing Initiatives Program funds; $610,000 previously approved SHIP funds
- Developer: Newstar Development LLC
