11-unit affordable townhome community proposed for south St. Pete
/More affordable housing could be coming soon to south St. Petersburg after the City received an unsolicited offer from Namaste Homes, LLC to acquire and develop a 0.55-acre vacant, City-owned property on the northwest corner of 18th Avenue South and 18th Street South.
Last month, the City received an unsolicited proposal from Green Mills Group, an affordable housing developer, to construct 96 affordable apartments on another City-owned parcel at 18th Avenue South and 21st Street across from Tangerine Plaza. After inviting alternative proposals, four additional groups, including Habitat for Humanity, submitted their vision for the site.
The proposal submitted by Namaste in partnership with Ardent OZF, LLC, a qualified Opportunity Zone Fund, outlines plans for 11 two-story, three-bed, two-and-half bath townhomes to be sold to households earning below 120% of the Area Median Income (AMI). Based on the current Area Median Income, this means a family of three earning less than $79,800 per year would be eligible. For a family of four, that number is $88,550, and for a family of five, $95,760.
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St. Petersburg has a rule that protects our waterfront. If the city wants to lease public waterfront land for longer than a short term, voters decide. That rule is worth keeping, and a "yes" vote on Charter Amendment #2 does not weaken it.
Here is what it changes. Under the City Charter, Port leases are capped at 10 years unless voters approve more in a citywide referendum. Charter Amendment 2 would raise that cap to 25 years, the same limit Albert Whitted Airport has had since 2004, when voters raised it from five years. Giving the Port the same terms as its neighbor is sensible.
Here is what it does not change. The ballot language says the amendment "would not change the permitted use of the Port." It does not approve residential development at the site, and it does not approve any redevelopment of the Port. It changes one number, the maximum lease length. Every lease would still go through the city administration and City Council. The amendment does not hand anyone a blank check. It lets the city negotiate from a stronger position.