St. Pete Launches $42M Affordable Rental Housing Program

ST. PETERSBURG, FL — The city of St. Petersburg is accepting applications from qualified developers for a new $42 million affordable rental housing program under the Sunrise St. Pete initiative.

The program is funded by Community Development Block Grant – Disaster Recovery dollars allocated to the city by the U.S. Department of Housing and Urban Development, a city news release said.

The city said that the program aims to meet post-disaster housing demands by providing funds to developers for the construction, substantial rehabilitation or conversion of affordable rental housing units.

The units are intended for households earning at or below 80 percent of the area median income.

The program will be administered through a competitive request for applications process. About $42 million in funding is available to award to qualified projects.

Applications are open now and must be submitted by June 12 at 5 p.m.

Information about eligibility, application instructions and program guidelines is available online at www.stpete.org/ARHP.

The housing program is part of Sunrise St. Pete, the city’s disaster recovery program. Through this initiative, the city is distributing $159.8 million in federal funding to help residents and communities rebuild after Hurricanes Idalia and Helene.