A major new affordable housing development could soon rise in north St. Petersburg. Atlanta-based real estate developer Wood Partners is proposing a 381-unit multifamily apartment complex at 11101 Roosevelt Boulevard North.

The five-story building, named Alta Roosevelt, is being reviewed under Florida’s Live Local Act, a 2023 state law designed to incentivize the construction of affordable and workforce housing.

The law allows residential developments to override local zoning restrictions such as height, density, and land use if at least 40 percent of units are set aside for households earning up to 120 percent of the Area Median Income (AMI) and those units remain affordable for at least 30 years.