$2.1M Affordable Housing Funding OK’d For South St. Pete Projects

ST. PETERSBURG, FL — A major funding boost of $2.1 million was approved for south St. Petersburg affordable housing projects under Mayor Ken Welch’s “Housing Opportunities for All” plan, according to a city news release.

Through this 10-year plan, the city aims to produce new affordable units, preserve existing affordable housing and protect tenants, according to the city website.

The St. Petersburg City Council unanimously approved the funding at Thursday’s meeting.

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The multi-million-dollar commitment will be used to expand affordable and workforce housing options, and also green lights the construction of dozens of new homes in the South St. Petersburg Community Redevelopment Area, the city said.

"People are looking for impactful opportunities to protect and nurture their families, which means safe neighborhoods and high-quality housing that is stable and affordable," Welch said. "We are not only strengthening our partnership with Namaste Homes, Habitat for Humanity and CHAF Properties to produce and build the homes, but also ensuring a lower mortgage interest rate and greater affordability for families and individuals."

This funding will allow for the completion of more than 60 affordable and workforce housing units, the city said.

Namaste Homes will receive $1.056 million. Its Sixteenth Square development at 16th Avenue S. and Dr. Martin Luther King Jr. S. calls for 11 affordable townhomes.

Habitat for Humanity will also receive $640,000 and CHAF Properties will receive $300,000, the city said. Another $140,000 is set aside for other single-family developers.