Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
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Read MoreConstruction has begun on the Bayou Court Apartments, a new affordable housing development in south St. Pete.
Situated near the southeast corner of Lake Maggiore at 4201 6th Street South, this new three-story affordable housing community is poised to address the housing needs of low- and moderate-income households in south St. Pete.
Gravel Road Partners, a Washington D.C.-based workforce and affordable housing developer, acquired the two-acre property in 2022 for $1.7 million.
Read MoreSt. Petersburg City Council recently approved a resolution to allocate $2,740,000 in City funds for the construction of a new three-story affordable housing community in south St. Pete.
The new project, named Bayou Court Apartments, is set to rise near the southeast corner of Lake Maggiore at 4201 6th Street South.
The two-acre property, which was formerly home to The Old Landmark Cathedral of God, was purchased by Gravel Road Partners in 2022 for $1.7 million.
“We are an acutely focused workforce and affordable housing developer along the east coast,” said Tyler Herbert, Founding Partner at Washington D.C.-based Gravel Road Partners, during the November 30th City Council meeting. “We have about 1,200 units in our pipeline and all we do is public-private partnerships.”
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