ST. PETERSBURG, Fla. — Residents living in South St. Petersburg are possibly one step closer to affordable housing options.
The St. Petersburg Citizens Advisory Committee (CAC) on Tuesday approved recommendations from Mayor Ken Welch's administration for two affordable housing initiatives.
A news release from the city explains the recommendation includes about $5.5 million in funding to help create and preserve 429 affordable units.
Committee members were able to unanimously vote to approve funding up to more than $2 million toward the building of 264 affordable rental residential units. They will be located on a seven-acre lot at 34th Street S. and Fairfield Avenue — the site of the former Tibbets Lumber yard.
Three buildings with 74 one-bedroom, 162 two-bedroom and 28 three-bedroom units will be the project's focus.
Fifty-three of the units will be reserved for people earning at or below 50% of the Area Median Income while 67 units will be reserved for people earning at or below 80 percent AMI and 144 units will be for people at or below 120 percent AMI.
The committee also recommended approval to have the Citrus Grove Apartments redeveloped. The recommendation is for up to more than $1 million to renovate 84 affordable rental units.
Future residents could look forward to improved roofing, windows, paint and repaved parking lots.
"These projects reflect the city's continued focus on affordable housing, and the value of South St. Petersburg CRA funds to support this critical need," Welch said in a statement.
While the plans for more affordable housing in St. Pete have gotten this far, City Council approval is still required for final adoption.
