A new affordable housing development in Pinellas County has officially opened.
Clearwater Gardens, at 1260 Cleveland Street, features 81 units. These are reserved for households which earn between 30 to 80% of the Area Median Income.
The four-story building began to welcome residents in December. A grand opening ceremony was held March 24.
Archway Partners founder and president Brett Green explained that the project stemmed from a request for proposal from the Clearwater Community Redevelopment Agency. According to the organization’s website, the CRA is a “dependent taxing district established by the City of Clearwater government for the purpose of carrying out redevelopment activities within our designated community areas.”
The developer was ultimately selected to pursue the affordable housing effort. A $3 million deferred loan at 0% interest and a $1.35 million purchase money mortgage were provided by the agency.
Additionally, State Housing Initiatives Partnership (SHIP) and HOME Investment Partnerships loans were administered by the City of Clearwater’s Economic Development and Housing Department, according to the CRA’s website. The Florida Housing Finance Corporation contributed 9% low-income housing tax credits as well.
Formerly home to two hotels, Green said, the site was acquired by Archway in April 2024. Construction would begin in June of that year.
A community garden was installed on the property prior to the construction of the building. He added that the asset will remain. Amenities include a gym, community center, on-site management and an outdoor space with an additional community garden.
The development earned a National Green Building Standard certification, which is a third-party program that verifies sustainability practices during the construction process. Green said that Archway has installed solar panels on the roof to power “all of the electrical demands of the communal spaces.”
Clearwater Gardens has one and two bedroom options.
“It’s a great location for providing housing opportunities for all of the people who work in downtown Clearwater,” he added. “We always like working in places where the city or county supports affordable housing. It’s very challenging if the local government is not an advocate of your project.”
The company is currently working on additional projects in Pinellas County. A St. Petersburg 80 unit development for seniors, the Flats on 4th, will be completed in the fourth quarter of this year.
Archway also closed on a 78 unit affordable housing initiative in Dunedin March 24. Another project, in partnership with the Pinellas County Housing Authority, is scheduled to be built in Largo upon the closing of the property.
“Finding affordable and attainable housing is one of the greatest challenges full-time residents face all across Tampa Bay,” said Clearwater mayor Bruce Rector in a statement prepared for the Catalyst. “Clearwater Gardens is an impressive development and is a major step forward in providing comfortable and affordable housing to allow many who already work here to also call Clearwater home.”
Currently, the Clearwater Gardens property is about 95% occupied.