South Pinellas affordable apartment community more than doubles with 66 additional units
More than 130 individuals and families now have a safe, comfortable place they can afford to call home with the expansion of the SkyWay Lofts affordable apartment community in South St. Petersburg.
On Tuesday, Pinellas County Commissioner Rene Flowers joined St. Petersburg Mayor Kenneth T. Welch and other city officials, staff and community members to celebrate the opening of 66 new apartments on the same site as the first phase of this development at 3800 34th St. S.
Both apartment developments are reserved for people who earn 80 percent or less of the area median income (AMI), which is about $58,450 for an individual, with rents for 1-, 2- or 3-bedroom apartments set at affordable rates based on this income level.
Residents who live in the apartments work in Pinellas County Schools, health care companies like BayCare and Johns Hopkins All Children’s Hospital, and a variety of other retail and service jobs.
The County, City of St. Petersburg and other cities have joined forces on these projects and other programs that make it easier to build affordable homes anywhere in the county. Their shared mission is to lift up local individuals and families who can no longer make ends meet in their own hometown due to the unprecedented cost of housing.
The $24.9-million development was made possible primarily through $13.75 million in construction bonds issued by the Pinellas County Housing Finance Authority through a private placement with TD Bank. Additional funding included $6.5 million from the City of St. Petersburg, $3.4 million from Pinellas County’s Penny for Pinellas program, and $2.125 million in SAIL and National Housing Trust Fund (NHTF) financing from the Florida Housing Finance Corporation.
This development is the latest project supported by a countywide partnership that has helped thousands of individuals and families find a quality home they can afford since 2018. Local governments in the Advantage Pinellas Housing Compact work together to promote consistent policies and programs and support projects that create more housing choices.
For an overview of countywide housing efforts, see: www.homesforpinellas.org. Formed in 2012 in Pinellas County, Blue Sky Communities is a leading advocate for helping local governments and nonprofits across Florida reach their affordable housing goals by developing state of the art, environmentally sound affordable housing units. Learn more.