St. Pete affordable housing projects hit construction milestones
By Breanne Williams
Tampa Bay Business Journal
Published: Apr 23, 2024

Two affordable housing projects bringing 110 units to St. Petersburg will hit major milestones this week.

The Bayou Courts Apartments at 4201 Sixth St. S held its groundbreaking ceremony Tuesday at 10:30 a.m. When complete, the project will bring 60 affordable workforce units to St. Pete. Each unit will have two bedrooms and be roughly 1,050 square feet.

The Bayou Court Apartments will be built by Gravel Road Partners adjacent to Lakewood Elementary School. Gravel Road Partners intends to offer local school and city employees the first opportunity to rent the affordable homes. The units will be set aside for those making between 50% and 120% of the area median income.

Gravel Road Partners purchased the site in 2022 for $1.7 million. The property was formerly home to The Old Landmark Cathedral of God.

On April 26, Pinellas County will host a grand opening event for Innovare, located at 850 Fifth Ave. S. The affordable housing project is fully leased and features 50 units. Many of the residents are families or individuals who faced homelessness or long-term financial hardships, according to a release.

The units are reserved for those making between 30% and 60% AMI.

Innovare will also serve as the headquarters for Volunteers of America Florida. The organization is the developer of the project.

Both projects received funding from Pinellas County and St. Petersburg as part of the Advantage Pinellas Countywide Housing Compact. According to a release, the countywide partnership has aided thousands of individuals and families in finding affordable housing since 2018.