Palms of Pinellas Apartment Project
Pinellas County makes it a priority to provide residents with safe and affordable places to live. The Palms of Pinellas apartment project is a partnership between public and private organizations to do just that.
- To provide gap financing, public and private organizations leverage money from multiple sources, including county surtax funds, BP settlement funds and HOME dollars.
- Land is purchased and put into a land trust to make sure it stays affordable for a long time.
- Affordable workforce housing is set aside for residents at different income levels:
- 19 units for residents at 50 percent of Area Median Income (AMI)
- 10 units for residents at 80 percent of AMI
- 19 units with SHIP rent limits for residents at 50 percent of AMI
- 19 units with SHIP rent limits for residents at 120 percent of AMI
- 25 units have no program or rent restrictions but must be leased to residents at or below 150 percent of AMI
- The apartments are marketed specifically to teachers, hospital employees and neighboring businesses.