The newly opened bayou court apartments | City of st. petersburg

One year ago, city leaders and a local developer broke ground on a transformational project in south St. Pete that aimed to create more housing opportunities for teachers and faculty. Today, the community has officially opened.

The new 60-unit apartment community, Bayou Court Apartments, is located near the southeast corner of Lake Maggiore at 4201 6th Street South, directly behind Lakewood Elementary School.

The project, which recently welcomed its first residents, was made possible through a public-private collaboration between the City of St. Petersburg, Pinellas County, and Gravel Road Partners, a Washington D.C.-based workforce and affordable housing developer that acquired the property in 2022 for $1.7 million.

the site locate behind the lakewood elementary school in south st. pete | st. pete rising

“It took a lot of strategic planning to develop 60 units at this 2.3-acre site,” the Gravel Road Partners team explained during a tour of the apartments with St. Pete Rising. “We wanted design something that fit into the community and that felt very approachable.”

Bayou Court Apartments includes two 12-unit buildings and one 36-unit building, totaling 60 two-bedroom, two-bathroom apartments, each measuring approximately 1,051 square feet.

All 60 apartments are income restricted and reserved for households earning between 50% and 120% of the Area Median Income (AMI), as follows:

· 12 units for households at least 50% of the AMI

9 units for households at least 80% of the AMI
15 units for households at least 100% of the AMI
24 units for households at least 120% of the AMI

City leaders and the development team cut the ceremonial ribbon at the site of the apartments | city of st. petersburg

Gravel Road Partners has pledged to prioritize applications from local school and government employees.

To date, 21 units have been leased. Four local school employees and three government workers are among the new residents who have signed leases.

Each unit features luxury vinyl flooring, granite countertops, stainless steel appliances, a washer and dryer, and a private balcony or terrace.

Community amenities include a dog run, outdoor playground, picnic tables, and a community garden. Off-street parking and bicycle parking are also available.

one of the two bedrooms inside an apartment | city of st. petersburg

The $17.3 million project, which broke ground in April 2024, leveraged the City’s Workforce Housing Density Bonus Program and the State of Florida Graywater Density Bonus Program.

“We contemplated developing market rate apartments here, but we wanted to address the demand for workforce housing in St. Pete,” the team said to St. Pete Rising. “We were able to make the numbers work with the help from the City and County.”

Funding for the project includes a $2.74 million commitment from the City of St. Petersburg, a $2.8 million contribution from Pinellas County through Penny for Pinellas funds, an $8.6 million commercial bank construction loan, and $2.9 million in developer and investor equity.

The living room in one of the units that features double doors opening to a balcony | city of st. petersburg

“Through thoughtful collaboration, we are setting the standard for what innovative housing partnerships can look like,” Mayor Ken Welch said in a statement.

“The Bayou Court Apartments are a true representation of inclusive progress, creating safe and affordable housing opportunities for educators, city employees, and service industry workers – the very residents we rely on to keep our city going.”

The Bayou Court Apartments development team also includes St. Pete-based Place Architecture, Park & Eleazor Construction, Osborn Civil Engineering, WGI Structural Engineering, and Carteret Property Management.

Residents interested in touring the units can find more information at the community’s website.