Affordable Housing Project Moves Forward in Lealman

A proposed affordable housing community in the Lealman section of Pinellas County will move forward after receiving $2 million in funding. The funds were approved by the Pinellas County Board of County Commissioners and will come from the Neighborhood Stabilization Program (NSP) grant funds allocated to the County by the U.S. Department of Housing and Urban Development. Lealman Heights will provide 86 affordable housing units. The county acquired the land in 2016 and developer SP Pinellas LLC was selected by the county in a competitive process in 2021. The developer delayed the project citing rising construction costs and expenses for environmental assessment and applied for the extra funding. The total cost is estimated at $28.5 million, the rest of the project will be financed through multifamily mortgage revenue bonds, private equity and Low-income Housing Tax Credits (4% tax credits).  The plans show the two- and three- bedroom apartments will be contained in four three-story buildings across 5.08 acres of land. Community amenities include a clubhouse and playground. Construction is expected to begin in September 2023. Existing buildings on the site will be demolished.

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