ST. PETERSBURG, Fla. — A south St. Petersburg public-private partnership is launching a new affordable housing initiative that aims to address more than the region’s housing shortage.

SERI USA has its first home under contract and plans to transform it into a lease-to-own opportunity that combines affordable housing with workforce development, financial literacy, mental health services and other support designed to help families become successful homeowners.

Founder Bruzenskey Bois said SERI stands for Social Economic Redevelopment Initiative. He said south St. Petersburg was selected because it remains one of the few places in the Tampa Bay area where affordable housing opportunities still exist.

“I’m focusing on south St. Pete because right now it’s the only location with few locations in the Tampa Bay area where you can get housing still affordable, and it’s highly desirable. We’re five minutes out of downtown. You have new development happening,” Bois said.

The initiative is a partnership between SERI USA and the Foundation for Community Driven Innovation Inc., which will provide education and wraparound services for participants.

Terri Willingham, founder of the Foundation for Community Driven Innovation Inc., said homeownership requires more than purchasing a house.

“Being able to take care of your home, being able to have a home, is one thing, right? Being able to take care of it and to afford to take care of it is something else entirely,” Willingham said.

She said partnering with SERI USA aligned with her organization’s mission of helping families become self-sufficient.

“Partnering with, you know, Bruzenskey and SERI was just a natural fit for the things he’s trying to do, because the whole idea is to create capable, self-reliant individuals who are empowered to be successful in an ever-changing world,” Willingham said.

The organization’s name reflects its broader mission, Bois said. It was created to focus on lasting community investment rather than simply renovating homes, he said.

“I don’t just want to flip houses or just do rental properties. You know, I really want to make an impact in the community,” Bois said. “So SERI is something that God put in my heart in 2017. I’ve been working on it. I’ve been growing it and building it, and now everything is coming all together.” 

The program uses a lease-to-own model, allowing participants to build equity while preparing for homeownership.

“When you get into this home, what we do is we provide a one- to two-year lease, which is (a) leased-to-own project, whereas all of your money’s that you’re paying for rent is going to go to home ownership,” Bois said.

During the lease period, participants complete workforce development training, financial literacy courses, landlord education, small developer workshops, and receive mental health support.

“And then when you’re ready to buy, now you’ve already been in a situation, you’ve been in that home, you’ve participated in the workforce housing development portion. You have certain skill sets. You’ve done the landlord training. You’ve done the financial literacy. So your credit is now getting better. You’ve done small developer workshops, you know, and then we also work on your mental health through it all,” Bois said.

The goal is to prepare participants for long-term success before they purchase a home, he said.

“So when in two years that you’re actually a resident, you’re getting all of these support systems and things in place. So when you’re ready to buy the home that you’re going to buy, hopefully it’s a home that you’re already in and we’re making it affordable for you through this program,” Bois said.

SERI USA said the south St. Petersburg home is the first of what it hopes will become a network of affordable lease-to-own properties across the Tampa Bay area, giving more families an opportunity to achieve homeownership while building the skills needed to sustain it.