Construction begins on 264-unit affordable housing “unicorn” near St. Pete’s Warehouse Arts District
/Construction is officially underway on one of St. Petersburg’s largest workforce and affordable housing developments.
On Wednesday morning, St. Pete-based HP Capital Group joined city and county officials, community partners, and stakeholders to celebrate the groundbreaking of Fairfield Avenue Apartments, a 264-unit apartment community at 3300 Fairfield Avenue South.
The development will serve individuals and families earning between 50% and 120% of the Area Median Income (AMI), a range that developers and officials say is increasingly difficult to accommodate in today’s housing market.
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A 31-acre office property along McCann Lake has received preliminary approval for what would become the largest apartment community in Pinellas Park, with 552 units, including at least 221 affordable apartments.
City staff approved the preliminary site plan on September 30th for 10222 MCI Drive in the Gateway Centre Business Park.
The two-phase development would replace an office campus with nine four-story apartment buildings, two clubhouses, pickleball courts, and 847 parking spaces.
The apartment proposal relies on Florida’s Live Local Act, which allows residential development on the industrially zoned property, provided that at least 40% of the apartments, or at least 221 units, are reserved for households earning at or below 120% of the area median income for a minimum of 30 years.
The remaining 331 apartments would be leased at market rates.
Plans call for apartments ranging from studios to three-bedroom units. All nine residential buildings would rise four stories, with a maximum height of 50 feet.