May 1, 2025

St. Petersburg to Launch New Affordable Housing for Seniors

News Summary

St. Petersburg will begin construction on an affordable housing project called Flats on 4th, providing 80 apartments for seniors. This initiative supports seniors earning between 40% and 60% of the area median income, addressing the urgent need for affordable housing. Funded by the Pinellas County Housing Finance Authority, the project incorporates modern amenities and communal spaces. Construction starts in May 2025, with a completion target for late 2026, enhancing the community’s housing infrastructure for its elderly population.

St. Petersburg is set to begin construction on a new affordable housing project named Flats on 4th, which will provide 80 apartments specifically designed for seniors. This development is located at the southwest corner of 106th Avenue North and 4th Street North, marking a significant investment in the community’s housing infrastructure for its elderly population.

The Flats on 4th project is aimed at assisting seniors who earn between 40% and 60% of the area median income (AMI). Out of the 80 units, 72 will cater to households earning at or below 60% of the AMI, while eight units are earmarked for those earning 40% of AMI. This initiative addresses the pressing need for affordable housing options for low-income seniors in the area.

The Pinellas County Housing Finance Authority purchased the land for the development at a cost of $2.94 million, utilizing funds from the Penny for Pinellas program. This program is a voter-approved one-cent sales tax aimed at financing infrastructure improvements across Pinellas County.

Project Details

The Flats on 4th will feature a total of 52 one-bedroom units and 28 two-bedroom units, designed with modern amenities that include solid-surface granite countertops, energy-efficient appliances, contemporary bathroom fixtures, window coverings, and hookups for washers and dryers. Additionally, the development promises various communal amenities such as a multipurpose community room, a library, co-working spaces, and a tech lab, enhancing the living experience for its residents.

Estimated at $37.47 million, the project will be funded through multiple sources, including $4.39 million from the American Rescue Plan Act (ARPA) provided by the City of St. Petersburg, $6 million from State Apartment Incentive Loans (SAIL), and $1.45 million from the National Housing Trust Fund. Furthermore, approximately $17.75 million will be secured through 4% low-income housing tax credits and tax-exempt bonds.

Timeline and Management

Construction of the Flats on 4th is scheduled to commence in May 2025, with an anticipated completion date in late 2026. The site of the development is located within the Neighborhood Suburban Multifamily-1 (NSM-1) zoning district, which supports a base density of 15 units per acre.

To meet the demand for affordable housing, Archway Partners, which specializes in affordable and workforce housing, has worked to maximize the unit count. Utilizing a graywater density bonus alongside a workforce housing density bonus, the development’s unit count was increased by 35 units. Archway Partners has branches in both Miami and Orlando.

Due to its designation in an AE flood zone, the building will be elevated, complete with covered parking facilities for both vehicles and bicycles located beneath the structure. Property management for the development will be handled by the Pinellas County Housing Authority, ensuring operational efficiency and support for residents.

Community Impact

As St. Petersburg continues to address the affordable housing crisis, the Flats on 4th project signals a proactive approach to providing essential housing solutions for its senior population. This public-private partnership between the City of St. Petersburg, Pinellas County, and Archway Partners is set to contribute positively to the community, offering a supportive environment that fosters stability and connection among seniors.

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Additional Resources

Author: STAFF HERE PETERSBURG WRITER

ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.

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STAFF HERE PETERSBURG WRITER

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