ST. PETERSBURG, Fla. — The City of St. Petersburg just gave the green light to an affordable and workforce housing development that they say is the first of its kind in the state.
The project, near 43rd Street South and Fairfield Avenue, will convert industrial land into badly needed residential space. That’s what makes this particular plan so unique.
The city has been looking for new ways to create affordable housing opportunities, and it just approved $2.3 million to take advantage of a law passed in 2020 which allows construction of affordable housing on industrial land.
"Yes, we are one of the most built-out communities in the nation," Amy Foster who heads the city’s Community and Neighborhood Affairs Office said. "And, so, we have to get creative about where we can put housing so that we can meet the demands of the current community."
The 264-unit apartment complex will be built on a seven-acre footprint that’s currently the Tibbetts Lumberyard at 34th Street South and Fairfield Avenue.
The location is close to the Pinellas Trail, schools, shopping and transportation.
“There’s some affordable units and then there are some that are for our teachers, our nurses, our firefighters. Those who need a good place to live right here in St. Pete,” Foster said.
By approving the local funding, St. Pete will get matching funds from the Federal Department of Housing and Urban Development and Penny for Pinellas.
The $53 million development includes one, two and three-bedroom rental units — for people making between 50 and 120% below the area median income.
Of the total units, including one, two and three bedrooms, 53 will be reserved for individuals earning at or below 50% of the Area Median Income; 67 at or below 80% AMI; and 144 at or below 120% AMI.
From a safety standpoint, the city says the industrial – soon to be residential property – will meet all standards.
“There’s always environmental reviews that happen when residential properties are built,” Foster said. “And certainly, if there’s any environmental needs that need to be taken care of, that will be looked at.”
Developers have said they would like to begin work by the end of the year and estimate construction will take about a year and a half.
The city says there may be as many as 14 more sites around St. Petersburg that would fall into the same category.
They’re taking a look at those sites as well, and plan to announce another similar project soon.