ST. PETERSBURG, Fla. — A new, luxury-styled affordable housing condominium in St. Petersburg celebrated its opening with a ribbon-cutting Tuesday.
Blue Sky Communities, based in Tampa, opened the doors of Skyway Lofts on 34th Street South. The building consists of 17 one-bedroom units and 48 two-bedroom units totaling 65 units aimed at households that make 30 to 80-percent of the area median income (AMI).
In 2020, the median household income was $60,798, according to the U.S. Census Bureau. Today, factoring in inflation, that would be the equivalent of about $66,648. This means that today's prices are 1.10 times higher than average prices since 2020.
The 65 units all feature fully equipped kitchens, luxury vinyl flooring, walk-in closets, ensuite baths and multiple energy-efficient features. Rent for one-bedrooms range from $346 to $1,039 and two-bedrooms range from $402 to $1,234 depending on income level. Rental assistance vouchers are also available to potential renters.
To make this affordable housing community a reality, the city of St. Pete contributed $90,000 toward the project through the State Housing Initiatives Partnership program and Blue Sky Communities utilized the Low-Income Housing Tax Credit program.
Other partners include Pinellas County, Florida Housing Finance Corporation, TIAA Bank, Raymond James Bank and Raymond James Affordable Housing Investments.
The community is already fully rented out.