Volunteers of America of Florida broke ground November 5 with a new affordable project on 5th Avenue South. The project will bring 50 new affordable mixed-use housing units to the market and is aimed at low-income earners.
“After the pandemic, affordable housing became even more complicated to build because of inflation and the cost, higher construction costs,” said Janet Stringfellow, president and CEO of Volunteers of America of Florida. “But we were able to master these challenges thanks to our community partners.” Stringfellow says there are currently 2,400 people in St. Petersburg who need an apartment without calling home. And the problem keeps getting worse. As the development of affordable housing projects is becoming more and more expensive, wages are stagnating and housing and rental prices rise by 20-30%, the demand is growing faster than affordable housing can become available.
To learn more: Groundbreaking on 50 Affordable Homes in St. Pete
source: SPID Nov/Dec Newsletter
Hub tenants SummitET and The Darkstar Group have been recognized as fastest-growing private companies in America as part of Inc. 5000 2023. Both SummitET and The Darkstar Group share a common thread of innovation, resilience, and a forward-thinking approaches.
The term "innovation" is used to describe many things - a product, an idea, or even a place. I've tried over the years to find another word to use instead. Its an interesting challenge.
The size and scale of St. Pete fuels collaboration. Its hard to imagine another place where this amazing collection of innovators are sitting side-by-side from NOAA to Poynter Institute to the hospitals to the Dali... and everything in between.