Skyway Lofts II will add 66 affordable apartments to the Skyway Marina District
/Skyway Lofts II, a 66-unit affordable apartment community, recently broke ground in the Skyway Marina District | St Pete Rising
The development group behind Skyway Lofts, a 65-unit affordable housing community that opened in 2022, recently broke ground on Skyway Lofts II, which will bring even more affordable apartments to St. Petersburg's Skyway Marina District when it opens next year.
Tampa-based Blue Sky Communities, which has developed multiple affordable housing projects throughout Tampa Bay, has started turning dirt at 3900 34th Street South where a four-story building with 66 apartments will rise.
The group recently acquired the vacant parcel in a $2 million deal through a joint venture land trust with the Pinellas Housing Finance Authority.
"We began eyeing this site after seeing incredible demand for phase one of Skyway Lofts," Blue Sky Communities Executive Vice President and CFO Scott Macdonald said to St. Pete Rising. "And with Pinellas County as a partner, we are ensuring affordable housing will remain affordable."
Skyway Lofts, a 65-unit affordable housing community that opened in 2022 | Blue Sky Communities
The existing Skyway Lofts development serves households earning less than 80% of the Area Median Income (AMI).
The tenant mix for Skyway Lofts II will be the same as the initial phase with the majority of units reserved for residents earning 60% AMI. However, select units will be reserved for those earning 80% and 30% AMI.
For those earning at or below 60% AMI, the majority of units in the first phase were priced at $762 per month for a one-bedroom apartment and $901 per month for a two-bedroom apartment, according to the city.
One-bedroom units were made available for as low as $346 per month and $402 per month for two-bedroom units for those earning at or below 30% AMI.
Unlike the first phase, the Skyway Lofts II will have three-bedroom units in addition to one- and two-bedroom units. Also, Skyway Lofts II will be built with concrete block instead of wood framed due to insurance requirements.
"The new building will be similar, but not identical to the first phase because we have a different architect for phase two," Macdonald said. "We will also have outdoor amenities and a large fitness center that we weren't able to include in the first phase."
The site plan for Skyway Lofts II, a 66-unit affordable apartment building coming soon to 3900 34th Street North | Blue Sky Communities
St. Petersburg-based Place Architecture, Tampa-based High Point Engineering, and Clearwater-based general contractor Park and Eleazer Construction are developing phase two.
Financing for Skyway Lofts II, which will exceed $16 million in construction costs, is backed by ARPA (American Rescue Plan Act) funds.
In 2022, the City of St. Petersburg received approximately $45 million of the ARPA funds, which were disbursed to local governments to address public health and economic emergency, provide premium pay to essential workers, replace revenue lost due to the pandemic, and make necessary investments.
Skyway Lofts II is expected to be complete by mid-2025.
Macdonald said Blue Sky Communities will reach out to qualifying residents on the Skyway Lofts waiting list when pre-leasing is available.
The interior of a common area at Skyway Lofts, which opened in 2022 in the Skyway Marina District | Blue Sky Communities
In the past few years, Blue Sky Communities has delivered a handful of income-restricted communities to Pinellas County.
The group's first St. Pete project is Duval Park, an 88-unit residential development in the Lealman neighborhood designed for veterans and working families.
Blue Sky Communities is currently developing Bear Creek Commons, an 85-unit affordable housing complex for seniors under construction at 635 64th Street South at the former site of the Grace Connection Church.
Macdonald said Bear Creek Commons will open later this year.
The developer is also working with Pinellas County to redevelop St. Petersburg College's property at 7045 Burlington Avenue North, formerly known as the Gibbs Wellness Center property, into an affordable housing complex for teachers, students, and faculty.
