Construction has commenced on a 27 million Seminole Square Apartments project aimed at providing affordable housing in St. Petersburg, Florida.
The developer, Enter Archway Partners patterned with the county, Largo city and St. Petersburg Housing Authority to develop the project. Additionally, several partners of the Advantage Pinellas Housing Compact are also backing this housing development.
Largo city’s Mayor, Woody Brown, said the city prioritizes housing in order to ensure residents have safe, affordable, quality housing options. Therefore, he said Seminole Square Apartments’ groundbreaking is an important step towards expanding housing access to residents earning below the AMI.
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Development plans for the Seminole Square Apartments project
The Seminole Square Apartment will be a 96 unit property located on a 4.97 acre parcel at 2005 Seminole Blvd. It will be a garden style apartment consisting of one and two bedroom formats with different affordable housing options. Based on the design plan, 34 units would be set aside for households at or below 30% of the AMI. While 11 units will also be reserved for households earning at or below 60%. Another 51 units will be set for households earning up to 80% of the AMI.
The developer expects to wrap up construction on the Seminole Square project in approximately 15 months. However, upon completion, about 51 of the units will be leased to the General public. However, upon completion, about 51 of the units will be leased to the General public. While the remaining 45 will be acquired through vouchers from the St. Petersburg Housing Authority’s waiting list.
The developer has received a combination of federal, state and local funds for the Seminole Square apartment project. In addition, the Pinellas County Housing Authority also contributed $17.8 million of bonds from its multifamily housing revenue pot.
Brett Green of Enter Archway Partners said the Seminole Square Apartment would be entirely affordable housing. But he also pointed out that the new garden style community wouldn’t look or feel cheap. According to Green, charging less for an apartment doesn’t necessarily mean lower quality.
