304-unit apartment development filed under Florida's Live Local Act proposed for 22nd Avenue North in St. Pete
/The site is currently home to JB Factory Flooring and Studio Physique, a fitness studio | GOOGLE EARTH
The City of St. Petersburg has received its first development application filed under Florida’s Live Local Act. The proposed development is located at 3100 22nd Avenue North and currently consists of a retail plaza that houses JB Factory Flooring and Studio Physique, a fitness studio.
The 7.27-acre site is owned by ZSPR PROPCO of Tampa, LLC and is under contract for purchase and development by Houston-based The Hanover Company, a private real estate developer.
The proposed development is planned for 3100 22nd Avenue North | ST. PETE RISING
A purchase price was not disclosed.
The proposed Hanover development will include 304 apartments which consist of 196 one-bedroom apartments and 108 two-bedroom apartments. All the units will rent to households earning at or below 120% of the area median income (AMI).
In 2024, for a two-person household in Pinellas County, the 120% AMI threshold is $91,680. AMI figures are adjusted according to household size and change annually.
The community will include four four-story apartment buildings, a clubhouse and leasing office building, and several one-story garage buildings. Amenities will include a swimming pool, fitness center, resident clubhouse, outdoor seating areas, and a dog run.
A total of 448 parking spaces will be included along with 320 bicycle parking spaces. The buildings will reach a maximum height of 41 feet.
A timeline for construction was not announced.
eLEVATIONS OF THE PROPOSED DEVELOPMENT | The Hanover Company
Because the project is being developed under the requirements of Live Local Act, it will be administratively approved and does not need to go through the standard municipal approval process as market-rate developments.
The Live Local Act, also known as SB 102, was passed in 2023 as part of a comprehensive, statewide housing strategy to increase the number of affordable and workforce housing within the state of Florida.
A site plan for the hanover apartments | The Hanover Company
The legislation was signed by Governor Ron DeSantis on March 28, 2023, and included mandates that local governments, both city and county, authorize the development of multifamily rentals on sites that are zoned as mixed-use, commercial, or industrial. The legislation also allows for density increases.
The Live Local Act also provides certain property tax exemptions and provided $811 million for affordable housing programs.
Projects seeking approval through the Live Local Act are required to set aside a minimum of 40% of the units for households making at or below 120% of area median income for a minimum of 30 years.
