Flats on 4th will contain 80 affordable apartments for households earning between 40% and 60% of the area median income (AMI) | PCHA

An undeveloped parcel at the southwest corner of the intersection of 106th Avenue North and 4th Street North will be developed into 80 affordable apartments reserved for seniors.

The project, dubbed Flats on 4th—a previously approved four-story mid-rise building designed for low-income seniors earning between 40% and 60% of the area median income (AMI).

The Pinellas County Housing Authority purchased the land for the project earlier this month for $2.94 million using Penny for Pinellas funds, a voter-approved one-cent sales tax designated for infrastructure improvements.

The project is a public-private partnership between the city and county, Pinellas County Housing Authority, and Archway Partners—a developer specializing in affordable and workforce housing with offices in Miami and Orlando.

THE DEVELOPMENT IS PLANNED FOR THE SOUTHWEST CORNER OF THE INTERSECTION OF 106TH AVENUE NORTH AND 4TH STREET NORTH | ST. PETE RISING

Of the 80 units, 72 will be designated for households earning at or below 60% of AMI. The remaining eight units will be reserved for those earning 50% of AMI.

“Flats on 4th is about more than building housing—it's about living our values,” said Nell Brickfield, Executive Director of the Pinellas County Housing Authority (PCHA).

“We believe in innovation, accountability, and putting people first. Flats on 4th gives our seniors the quality, affordable homes they deserve, and it shows what's possible when we stay true to our mission.”

The Housing Authority will also serve as the property management company for the development.

As the property is located in an AE flood zone, the building will be elevated, offering covered parking for cars and bicycles under the building | PCHA

The building will include 52 one-bedroom units and 28 two-bedroom units. Each apartment will feature solid-surface granite countertops, energy-efficient appliances, modern bathroom fixtures, window coverings, and washer and dryer hookups.

The development will also provide sufficient parking and include amenities such as a multipurpose community room, library, co-working space, and tech lab, according to a project outline from Archway Partners.

Estimated at $37.47 million, Flats on 4th has secured funding from multiple sources.

In addition to the Penny for Pinellas funds, the project received $4.39 million in American Rescue Plan Act (ARPA) funds from the City of St. Petersburg; $6 million in State Apartment Incentive Loan (SAIL) program bonds, which provide low-interest loans to affordable housing developers; $1.45 million from the National Housing Trust Fund; and further support through 4% low-income housing tax credits and tax-exempt bonds.

As the property is located in an AE flood zone, the building will be elevated, offering covered parking for cars and bicycles under the building.

The site is located within the Neighborhood Suburban Multifamily-1 (NSM-1) zoning district, which allows for a base density of 15 units per acre. Archway Partners used a graywater density bonus and a workforce housing density bonus to increase the apartment count by 35.

Construction was initially expected to begin in late 2024 with completion anticipated in early 2026. A revised timeline has not yet been announced.