St. Pete approves $4.5M for affordable housing in 2,084-unit Sky Town development
/One of the largest residential developments underway in St. Petersburg is set to receive local funding to support the inclusion of affordable housing.
On Thursday, the St. Pete City Council unanimously approved a $4.5 million contribution from the Housing Capital Improvement Fund for the first phase of Sky Town, a major mixed-use project planned for 3201 34th Street South in the Skyway Marina District.
This follows the Pinellas County Commission’s earlier unanimous decision to allocate $5.5 million to Coral Gables-based developer Altis Cardinal for the same phase of the project.
Originally planned as a fully market-rate development, the project now includes affordable housing thanks to a combined $10 million subsidy from the city and county.
Sky Town will be built in six phases and is set to include 2,084 apartments, 69,000 square feet of neighborhood retail anchored by a Sprouts Farmers Market, and 120,000 square feet of self-storage space.
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