Finance Florida Local News

New Affordable Housing Complex Welcomes Residents in St. Petersburg

New Affordable Housing Complex Welcomes Residents in St. Petersburg

St. Petersburg, FL: A new affordable housing units complex has been opened in Pinellas County. The Innovare complex aims to provide assistance to numerous families facing difficulties.

A $17 million development in downtown St. Petersburg brings together the City of St. Petersburg, Pinellas County, and Volunteers of America in a partnership. The development features 50 apartments, offering a new living option in the heart of the city.

The complex is part of a recent effort to tackle the county’s affordable housing problems. Earlier this week, the city and county celebrated the groundbreaking of Bayou Court, a development consisting of 39 units of workforce housing.

According to a recent study conducted by the Tampa Bay Partnership, it has been found that the average family in the area spends approximately $1,600 per month on housing expenses. The amount represents a significant portion of their income, exceeding the recommended percentage advised by financial experts.

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Sheri Harris from Pinellas County highlights the growing demand for affordable housing, which surpasses the available funding to tackle this pressing issue.

Having a stable and safe home is crucial for individuals who have been living in their car or struggling to make ends meet in a motel. Many families have jobs, but their income is insufficient to cover the high rent in today’s market,” she explained.

Harris has announced that new units for low-income and special-needs individuals are set to open in May.

Reference: WFLA News

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