St. Pete’s continued efforts to increase the availability of affordable housing just got a huge boost, as the City of St. Petersburg just launched a new initiative it is calling the Affordable Rental Housing Program (ARHP).
With the help of Sunrise St. Pete, the city’s disaster recovery program, the program will distribute $42 million in federal funding from Sunrise St. Pete to go towards “the construction, substantial rehabilitation, or conversion of affordable rental housing units for households earning at or below 80% of the Area Median Income (AMI).”
Sunrise St. Pete was established to help residents and communities recover after destructive hurricanes, Idalia and Helene. The combination of rising rents and diminished housing opportunities due to damage in residential flood zones has exacerbated the affordable housing issues in St. Pete, and this program is aimed at combatting those problems.
“The ARHP aims to meet post-disaster housing demands of low-income renters experiencing ongoing effects from the storms by providing funds to developers for the construction, substantial rehabilitation, or conversion of affordable rental housing for households earning at or below 80% of the Area Median Income (AMI),” the city explained.
The Affordable Rental Housing Program is funded by the U.S. Department of Housing and Urban Development (HUD). Specifically, their Community Development Block Grant – Disaster Recovery project. It was approved by Congress following the 2023 Hurricane Idalia and 2024 Hurricane Helene.
Applications for developers are open now and must be submitted by Friday, June 12, at 5 pm.
As life in Tampa and St. Pete continues to improve since those disasters, such as the Rays returning to Tropicana Field, the news of this program is a significant boon to residents and locals. To learn more about the program and find out how to apply for it, click HERE.