80-unit affordable housing project Flats on 4th moves forward in north St. Pete

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80-unit affordable housing project Flats on 4th moves forward in north St. Pete

An undeveloped parcel at the southwest corner of the intersection of 106th Avenue North and 4th Street North will be developed into 80 affordable apartments reserved for seniors.

The project, dubbed Flats on 4th—a previously approved four-story mid-rise building designed for low-income seniors earning between 40% and 60% of the area median income (AMI).

The Pinellas County Housing Finance Authority purchased the land for the project earlier this month, as Trustee of the land trust, for $2.94 million using Penny for Pinellas funds, a voter-approved one-cent sales tax designated for infrastructure improvements.

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St. Pete approves $4.5M for affordable housing in 2,084-unit Sky Town development

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St. Pete approves $4.5M for affordable housing in 2,084-unit Sky Town development

One of the largest residential developments underway in St. Petersburg is set to receive local funding to support the inclusion of affordable housing.

On Thursday, the St. Pete City Council unanimously approved a $4.5 million contribution from the Housing Capital Improvement Fund for the first phase of Sky Town, a major mixed-use project planned for 3201 34th Street South in the Skyway Marina District.

This follows the Pinellas County Commission’s earlier unanimous decision to allocate $5.5 million to Coral Gables-based developer Altis Cardinal for the same phase of the project.

Originally planned as a fully market-rate development, the project now includes affordable housing thanks to a combined $10 million subsidy from the city and county.

Sky Town will be built in six phases and is set to include 2,084 apartments, 69,000 square feet of neighborhood retail anchored by a Sprouts Farmers Market, and 120,000 square feet of self-storage space.

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City relaunches RFP process for new affordable housing development in west St. Pete

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City relaunches RFP process for new affordable housing development in west St. Pete

The City of St. Petersburg is once again seeking a development partner to transform a west St. Pete site into an affordable, for-sale townhome community.

Earlier this month, the city issued a Request for Proposals (RFP), inviting developers to submit plans for the redevelopment of a 5.24-acre property located at 7045 Burlington Avenue North.

The site was purchased by the city from St. Petersburg College in 2024 for $4.2 million, with the intent to construct 105 affordable housing units. As part of the purchase contract for the property, the City of St. Pete agreed to offer SPC students and faculty first right of refusal to purchase 30% of the new residential units.

The property currently features a two-story building on its southern end—formerly the Gibbs Wellness Center of St. Petersburg College—while the northern portion of the site remains vacant.

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144-unit affordable apartment community proposed for Largo

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144-unit affordable apartment community proposed for Largo

A Santa Monica, CA-based developer plans to convert a vacant site in Largo's Pinellas Groves community into a 144-unit affordable apartment complex.

Named Olea on 126, the project will include three four-story residential buildings at 6727 126th Avenue North, with units designated for residents earning between 40% and 80% of the area median income (AMI).

The community will offer surface parking and amenities such as a clubhouse, park area, and covered patio.

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304-unit apartment complex in Largo to convert into affordable housing

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304-unit apartment complex in Largo to convert into affordable housing

The Oasis at Bayside apartment complex in Largo will undergo an extensive renovation to convert the units to affordable housing and update the aging amenities.

Washington, DC-based multifamily investor Gravel Road Partners and Bridge Investment Group, an investment company headquartered in Salt Lake City, Utah, purchased the 304-unit property at 305 Glades Circle on March 12th for $42.25 million.

Berkadia Senior Managing Director Jason Stanton represented the seller, Latitude Management Real Estate Investors of Beverly Hills, California, in the transaction.

The new owners are partnering with Pinellas County to renovate the 1974-built property and dedicate 258 units for tenants earning 50% to 80% of the Area Median Income (AMI). Currently the property has no affordability requirements.

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