1501 72nd Street
Update
01/09/23
Apartment Community with Affordable Housing Planned in St. Petersburg
Local developer Porter Development has plans for an apartment community with affordable housing in St. Petersburg. The community, which will be built on the former Raytheon site, will offer just over 1,000 apartment units, with 300 designated as workforce units. Half of the workforce units will be available to those making less than 80% of the median income and the rest will be designated for those making less than 120% of the area median income. The community will include a mix of one-, two- and three-bedroom floor plans with some carriage houses above garage. The plans are for 1,700 parking spaces on the 29-acre site. The project will be constructed in three phases. The developer aims to go before the St. Petersburg City Council in March 2023 for approval. If the project is approved, construction could start in later summer 2023 and begin leasing in the third quarter of 2024.
