Habitat For Humanity To Build Affordable Townhomes In St. Pete: City

ST. PETERSBURG, FL — Habitat for Humanity has been chosen by the city to develop two affordable housing projects in South St. Petersburg.

The townhomes will be built on land in the 2100 and 1800 blocks of 18th Avenue South, according to a news release from the city.

The project will provide affordable homeownership opportunities to residents with mortgages as low as $1,075 per month up to $1,300 through Habitat’s zero-percent interest mortgage program

“This is a life-changing opportunity for homeownership and wealth-building for residents within the Southside Community Redevelopment Area. The monthly mortgage payment is truly affordable, and Habitat for Humanity is also a trusted organization in the community who we believe will deliver a quality project,” Mayor Ken Welch said.

Habitat’s proposal for the 2100 block includes the development of 44 three-story townhomes each with attached garages and driveways. The units will range in size from 1,000 square feet to 1,300 square feet, with nine two-bedroom units, 26 three-bedroom units and nine four-bedroom units, the city said.

All units will be available for purchase by individuals and households earning at or below 80 percent of the area median income.

Current terms of the agreement with Habitat include a $725,000 property purchase price, with $750,000 in public funding from the city ($16,500 per unit) and $1.012 million in funding from Penny for Pinellas, pending approval. Total development costs are estimated at $13.54 million, according to the city.

The project’s first phase, including 15 units, will be complete by February 2024, Habitat said. The second phase with another 15 units is estimated to be finished by October 2024, while the final phase will be complete with 14 units by July 2025.

On the smaller parcel of land on the 1800 Block of 18th Ave. South, Habitat will build 10 to 12 three-story townhome units for homeownership with attached garages and driveways.

All units in this project will be three-bedrooms at 1,704 square-feet. All units will be reserved for individuals and households earning at or below 80 percent of the area’s median income with a selling price of $225,000 per unit.

For that project, the city will donate the land and provide $640,000 ($64,000 per unit) in public funding if the project includes 10 units; or $705,000 ($58,750 per unit) if it includes 12 units.

Development costs are estimated to cost $2,890,233 for 10 units or $3,406,617 for 12 units. Construction is expected to begin in January 2023 with completion by December 2023.

For both projects, the proposed affordability period will be for 10 years. However, the city is seeking a longer affordability period as part of its negotiations with Habitat to create a term sheet.

Once established, a term sheet will be used to draft a development agreement for St. Petersburg City Council’s consideration and approval.

Three other development teams submitted proposals for the 2100 block, including Green Mills Group of Fort Lauderdale, Blue Sky Communities of Tampa, and Sugar Hill Group/New Urban Development of St. Petersburg and Miami.

Two other development teams submitted proposals for the 1800 block, including Namaste and Perc “Tiny Homes,” both of St. Petersburg.