A much-needed affordable housing development for seniors has been proposed in St. Petersburg. Our sources indicate that the $37.5 million project, dubbed “Flats on 4th,” will measure four stories above grade.
It will offer 80 units: fifty-two one-bedroom residences and 28 two-bedroom residences. Per St. Pete Rising, in-unit amenities would include granite countertops, washer/dryer hookups, and energy-efficient plumbing fixtures.
The venture could start completion later this year.
Communal amenities at Flats on 4th include a library, multipurpose community room, and work-from-home co-working spaces. Site plans do not show a swimming pool. Residency is reserved for seniors making 40 percent to 60 percent of the area median income (AMI).
According to the City of St. Petersburg, this means that a one-person household would have to make more than $18,250 a year to qualify. Flats on 4th is a public-private partnership between various entities. They include Archway Partners, the City of St. Petersburg, the Pinellas County Housing Authority, and Pinellas County.
Construction could start on Flats on 4th in the fourth quarter of 2024, with completion slated for 15 months later in early 2026. It will occupy an undeveloped parcel located on the southwest corner of 106th Avenue North and 4th Street North in St. Petersburg, FL, 33716, in Pinellas County.
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