Housing Finance Authority, partners provide 20 units of affordable multifamily rental housing

Whispering Pines, a new construction multifamily development located at 2665 54th Avenue S., St. Petersburg, will provide 20 units to households earning at or below 60% AMI serving special needs families with children. The Pinellas Affordable Living, Inc. is the Developer of Whispering Pines. Financial closing took place March 23, 2023. The Housing Finance Authority of Pinellas County (HFA) used Pinellas County SHIP Funds to acquire the land for the development. The land was placed into a land trust that is administered by the HFA. The land is then leased to the Developer for 99 years (and renewable for another 99 years after that) in exchange for Developer agreeing to keep the units affordable in perpetuity.  The HFA is proud of the public-private partnership that included the HFA, Pinellas County, the City of St. Petersburg, Pinellas Affordable Living, Inc., Florida Housing Finance Corporation and others.