The Hanover Co. hopes to get approval for an affordable housing development in St. Petersburg. If given the green light by city officials, the Houston-based developer could replace a retail plaza with 304 units.
Per the Tampa Bay Business Journal, plans call for 196 one-bedroom and 108 two-bedroom apartments, with residency intended for those making up to 120 percent of the area median income (AMI).
An aerial view of the proposed build site.
According to data from the City of St. Petersburg, a one-person household earning 120 percent of the AMI would earn $80,280 a year. The Hanover Co. is seeking approval under the Live Local Act, which requires at least 40 percent of a complex’s units to be affordable housing.
Communal amenities at the unnamed 304-unit community include a dog run, swimming pool, and fitness center. There would also be an on-site leasing office, a clubhouse, and multiple garages.
The build site currently hosts a few retail stores.
Currently, ZSPR PropCo of Tampa LLC owns the 7.27-acre site. It’s under contract to sell the parcel to The Hanover Co. The build site is home to a JB Factory Flooring and Studio Physique, which would be demolished prior to groundbreaking.
The Hanover Co. could soon get approval for its project at 3100 22nd Avenue North, St. Petersburg, FL, 33713, in Pinellas County. It would be east of Florida State Road 19.
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