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
This year marks a milestone moment for the St. Pete Innovation District: ten years of ideas, partnerships, and progress that have helped shape the future of our city.
Join us for an open house to learn about the District’s finalized Master Plan! After extensive research and community engagement, we are excited to share our plans for the future of the District.
The Maritime and Defense Technology Hub is excited to welcome SubUAS as our newest tenant, already making strides in our community