Seniors find affordable homes at new 80-unit apartment community in Ridgecrest
For Ridgecrest resident Yvette Feazell, a new apartment at Heritage Oaks means no more worry about rising rents pushing her out of her community.
The new 80-unit affordable senior housing community not only marks a major milestone in the long-term revitalization of her community in Ridgecrest, it’s also the first of several new developments in the new year bringing hundreds more affordable homes to Pinellas County.
On Thursday, Pinellas County commissioners joined the Pinellas County Housing Authority and Newstar Development to celebrate the first phase in a broader redevelopment of Rainbow Village, an aging public housing community in unincorporated Ridgecrest.
The new one- and two-bedroom apartments located at 13060 Washington Drive, Largo, nearly double the 48 public housing units that once stood here, with longer term plans on the site to replace 200 aging units with approximately 400 new affordable apartments for seniors, individuals and families.
“Pinellas is committed to making sure our workers, families, seniors and our vets can find a safe, affordable home in their own community,” said Pinellas County Commission Chair Dave Eggers.
“We’re grateful for the strong partners like the Housing Authority and Newstar Development who share our commitment to creating quality homes local people can afford through great projects like Heritage Oaks.”
Over the next two months, Pinellas County will also join partners in the cities of St. Petersburg and Largo in celebrating a total of 554 new affordable and workforce homes opening or starting construction.
The $31-million Heritage Oaks development was made possible by funding from Raymond James Affordable Housing Investments and Raymond James Bank, $3.36 million in Pinellas County HOME Investment Partnerships Program, State Housing Initiatives Partnership (SHIP), and Community Development Block Grant (CDBG) funds, low-income tax credits allocated by Florida Housing Finance Corporation, Housing Authority funds, and HUD rental assistance.
All apartments are reserved for seniors earning 60 percent or less of the area median income – that’s $43,890 for an individual. The apartments are all fully occupied.
The redevelopment of Rainbow Village is a pivotal component of the Greater Ridgecrest Master Plan, a long-term partnership between residents and Pinellas County Government focused on revitalizing the unincorporated Largo community through improved housing, new parks and recreation amenities, safer pedestrian infrastructure, and other neighborhood enhancements.
The project is also a product of the Advantage Pinellas Housing Compact, a countywide partnership between Pinellas County and its municipalities to help thousands of individuals and families find a quality home they can afford. Through the compact, local governments work together to support developments that offer residents quality affordable homes. Learn more: http://homesforpinellas.org.