Wimbish Court’s design would be similar to Archway’s other St. Pete project, Flats on 4th, currently under construction at 106th Avenue North and 4th Street North | Archway partners

A vacant 1.16-acre site near Bartlett Park in south St. Pete could soon become an 82-unit affordable housing community.

The $33 million development, called Wimbish Court, has been proposed by Orlando-based Archway Partners for 2025 Dr. M.L.K. Jr. Street South.

Archway is under contract to purchase the property for $1.875 million, but the project will only move forward if it secures 9% Low-Income Housing Tax Credits (LIHTC), according to Paul Nudelman, Development Partner at Archway Partners.

The Low-Income Housing Tax Credit program is a federal tax incentive created by Congress in 1986 to encourage private developers to build affordable housing.

Wimbish Court is proposed for 2025 Dr. M.L.K. Jr. Street South near Bartlett Park in south St. Pete | Archway Partners

In Florida, the program is administered by the Florida Housing Finance Corporation, which oversees a competitive process each year to distribute a limited pool of tax credits.

The “9%” refers to the approximate annual tax credit rate investors receive based on a project’s qualified costs. It’s the most valuable and competitive form of LIHTC, typically covering up to 70% of a project’s eligible construction costs through private equity raised from investors.

To strengthen its application for the tax credits, Archway Partners is seeking support from the City of St. Petersburg.

Next Thursday, City Council will vote on approving a non-recourse, 0%-interest loan of $610,000 to assist with the project.

The loan would be forgiven after a 50-year affordability period.

The community could be built as either two six-story buildings or, pending alley vacation, a single four-story structure with three levels of residential units over a single-story parking podium | Archway Partners

In September, City officials issued a Request for Proposals (RFP) inviting experienced affordable housing developers to apply for local government funding that could be used to bolster their 9% LIHTC applications.

Of the three proposals received, a review committee recommended Archway’s Wimbish Court project for the city loan.

Applications for tax credits are due November 19th, with funding awards expected by January 30th.

Wimbish Court is named in honor of Bette Wimbish, St. Petersburg’s first Black female City Council member and a lifelong advocate for civil rights and fair housing.

The community will exclusively offer affordable one-bedroom units with 13 apartments reserved for households earning up to 30% of the Area Median Income (AMI), 50 for those earning up to 60% AMI, and 19 for those earning up to 80% AMI.

Monthly rents will range from $586 to $1,564, depending on income level.

Archway Partners is working with FK Architecture and Hennessy Construction Services on the project.

Proposed site plan alternatives show two six-story buildings or one four-story structure, pending alley vacation | Archway Partners

The community could be built as either two six-story buildings or, pending alley vacation, a single four-story structure with three levels of residential units over a single-story parking podium.

The building’s design would be similar to Archway’s other St. Pete project, Flats on 4th, currently under construction at 106th Avenue North and 4th Street North.

Units, measuring 615 to 650 square feet, will include granite countertops, solid-surface flooring, energy-efficient appliances, and in-unit washer/dryer hookups.

The development will include a community room, library, coworking space, and tech lab, and will partner with Gracepoint to provide on-site behavioral health and case management services.

If the project is awarded the tax credits, construction could begin in late 2026 or early 2027, with residents moving in by mid-2028.