founders point, a new 15-unit affordable housing complex for low-income residents | St Pete Rising

Just before Labor Day weekend, local government officials and community leaders gathered in south St. Pete to cut the ribbon on the city’s newest affordable housing development.

Founders Point, a 15-unit apartment community at 2901 31st Street South near the Skyway Marina District, was developed by Pinellas Affordable Living Inc. (PAL), a Community Housing Development Organization formed by the Boley Centers.

The community, designed to provide safe and affordable housing for people with special needs, is located next to Boyd Hill Nature Preserve and just south of The Shores Apartments, a 50-unit affordable housing community developed by The Richman Group.

All 15 one-bedroom apartments are reserved for residents earning at or below 60% of the Area Median Income (AMI), specifically for residents with special needs.

Founders Point is located at 2901 31st Street South near the Skyway Marina District | Google Maps

Supportive services, funded by the Florida Department of Children and Families, are built into the development to help residents gain stability and independence.

The nearly $6 million project was primarily funded by the Florida Housing Finance Authority, Pinellas County, City of St. Petersburg, St. Petersburg Housing Authority, and the Boley Angels, an auxiliary fundraising group.

According to a 2023 funding agreement, the City committed $320,817, while the County provided a forgivable loan of $665,816. In earlier stages, both also contributed $75,000 each toward development costs. Under the terms of the agreements, the units must remain affordable for at least 15 years.

Mayor Ken welch (pictured in the center) along with community partners | pinellas county

The complex’s name honors Bessie Boley, Mary Koenig, and Ruth Mosher, who founded Boley Manor in the late 1960s as a halfway house for men exiting the state hospital. Their work laid the foundation for the Boley Centers.

Founders Point is one of several recent Boley Centers projects in the area, including Whispering Pines Apartments, a 20-unit complex that opened earlier this year on 54th Avenue South, and a planned 17-unit redevelopment of the Wood Acres mobile home park in Lealman.

Interested residents can call the Boley Cares line at 855-552-6539 or email info@boleycenters.org.