96-unit affordable housing project proposed for 18th Avenue in South St. Pete
/The proposed affordable housing development features a five-story building with 100% of the units being for households under 80% of AMI.
The City of St. Petersburg has received an unsolicited offer to acquire and develop a city-owned lot in south St. Petersburg.
Green Mills Group, an affordable housing developer, and Advantage Village Academy, Inc., a not-for-profit organization founded and based in St. Petersburg, have partnered to submit an offer to purchase a 2.1-acre site located on the corner of 18th Avenue South and 21st Street across from Tangerine Plaza.
The team is proposing a 96-unit affordable housing project.
Green Mills Group has previously developed two affordable housing developments in St. Pete’s Historic Kenwood neighborhood. Burlington Place, a 53-unit building at 3155 Burlington Avenue North, opened in 2017 and Burlington Post, an 86-unit building at 3201 Burlington Avenue North, opened in 2018.
Advantage Village Academy, Inc. (AVA) is a not-for-profit organization whose goal is to promote self-betterment in the community while trying to eradicate racial and ethnic disparities. AVA hosts St. Pete’s annual MLK Dream Big Parade.
Green Mills Group has previously developed two affordable housing developments in Historic Kenwood neighborhood including Burlington Place, a 53-unit building at 3155 Burlington Avenue North.
All units in the proposed five-story project would cater to households making below 80% of the area median income (AMI). Of the 96 total units, 15 units would cater to households making up to 30% of AMI, 50 units to households making up to 60% of AMI, 20 units to households making up to 70% AMI, and 11 units to households making up to 80% of AMI.
The project would include 19 studios, 41 one-bedroom units, and 36 two-bedroom units. On-site amenities include a clubroom, fitness center, business center, and management office. The building would also have 154 parking spaces.
“Increasing the city’s stock of affordable and workforce housing is a top administrative priority. The Mayor is excited to consider proposals that further this goal,” said Janelle Taylor, Director of Communications for Mayor Ken Welch. “At this point, the unsolicited proposal from Green Mills Group LLC and Advantage Village Academy, Inc. has not been approved.”
“We have posted notice on our website and in the newspaper inviting alternative interested parties to submit proposals by February 16th at 10AM,” added Taylor. “Once that window closes, the Mayor will be able to evaluate all of the submitted proposals and determine whether to move forward. If a proposal is selected, it would be subject to City Council approval.”
The proposed development is located along 18th Avenue South at 21st Street and would be located across the street from Tangerine Plaza.
To actualize the project, Green Mills Group would need approval from the City to increase allowable density in order to meet the minimum number of units required for Tax Credit funding applications. Current zoning regulations limit the site to 67 units; however, the group is seeking a minimum of 90 units for the site and ideally 96 units as illustrated in the submitted schematic design.
Green Mills Group says the increase in density can be authorized by utilizing City Ordinances 486-H and 485-H that were recently approved because of the passage of House Bill 1339, which was approved by the State Legislature in 2020. The new bill gives cities greater flexibility with zoning and density to accommodate affordable housing developments.
Green Mills Group will explore all avenues to finance the $22 million project, including submitting funding applications to local, county, and state agencies and leveraging Low Income Housing Tax Credits (LIHTC). The group has proposed a $1 million payment for purchasing or leasing the development site.
If approved, a tentative timeline for the project has construction beginning in early 2023 with completion and move-ins occurring in 2024. Green Mills Group’s full proposal can be viewed here.
