Funding Approved for Affordable Housing Project in St. Petersburg

The St. Petersburg City Council has approved $9.7 million in additional funding for construction of Fairfield Avenue Apartments, a 264-unit affordable housing project near St. Petersburg’s Warehouse Arts District. Construction had been delayed as construction costs have risen. The developer had previously received $12.4 million in funding from the Penny for Pinellas sales tax. Additional funding includes $56.1 million in a federal HUD loan, and $9.7 million from the City of St. Petersburg. Fairfield Avenue Apartments will border 34th Street S. just north of Gibbs High School.  All of the 264 units will be income restricted, 53 units will be designated for households earning less than 50% of AMI; 67 units at 80% of AMI or less, and the remaining 144 units those earning less than 120% of AMI. Plans call for three residential buildings, two will be five stories and one will be six stories with 345 parking spaces.  Of the 264 apartment units, 74 will be one-bedroom, 162 two-bedroom and 28-three-bedroom. Amenities will include three computer labs, club room, pool, barbecue and picnic areas.  The existing buildings on the site will be demolished. 

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