Pinellas County is working with D.C.-based Gravel Road Partners on the redevelopment of “an aging” apartment complex. Currently, the 304-unit “The Oasis at Bayside” does not have any affordable housing options, but that’s about to change.
The Tampa Bay Times notes that the two entities have plans to renovate the community and designate 258 units as affordable housing. They will be available to tenants earning less than 80 percent of the area median income (AMI). More specifically, St. Pete Rising notes that three units will be reserved for those earning up to 50 percent of the AMI, eight for those earning up to 65 percent, and 247 for those earning up to 80 percent. The remaining 46 units will not have any affordable housing restrictions. According to the City of Largo, the area’s median household income is $43,865, with the average studio apartment starting at $860 a month.
The complex’s swimming pool. Image from Apartments.com
The redevelopment will cost close to $60 million. Of that funding, Pinellas County is contributing $12.16 million. Plans involve modernizing the 1970s-era apartment complex into quality housing. This involves “invest[ing] in property improvements”. The developers intend to ensure that already-existing tenants will not be priced out of the complex or displaced. As of November 2024, Pinellas County was to purchase the Oasis at Bayside’s land, as to preserve the property as affordable housing indefinitely.
The community is located at 305 Glades Circle, Largo, FL, 33771, in Pinellas County.
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