Developers in St. Pete can submit applications for projects with the Affordable Rental Housing Program.
ST. PETERSBURG, Fla. — It’s no secret that St. Pete needs more affordable housing.
Now, if you’re a qualified developer in St. Pete, you have until mid-June to submit a proposal for the Affordable Rental Housing Program under the Sunrise St. Pete initiative, funded through a grant.
Officials with the City of St. Petersburg announced on Monday that they are accepting applications from developers for its program, which aims “to meet post-disaster housing demands by providing funds to developers for the construction, substantial rehabilitation, or conversion of affordable rental housing units for households earning at or below 80% of the Area Median Income (AMI).”
According to the city’s website, 80% AMI is roughly $64,250 in a household of one person, $73,400 in a home of two and $82,600 if the household has three people living in it.
The program is being funded with roughly $42 million by the Community Development Block Grant – Disaster Recovery (CDBG-DR) money, which was allocated to St. Pete by the U.S. Department of Housing and Urban Development.
“These funds are allocated to aid in long-term recovery, housing, and infrastructure based on impacts from Hurricanes Idalia and Helene,” St. Pete officials said in a press release.
A competitive process will follow to review applications and officials say these must be submitted by at 5 p.m. Friday, June 12.
If you want to learn more about eligibility, how to apply, and to view the program guidelines, visit the city’s website.
To learn about other AMI limits depending on household size in St. Pete, you can visit the city’s website here.
Sunrise St. Pete, according to the city’s website, is its disaster recovery program to help residents and communities rebuild after the 2024 storms that impacted the area.