The Indigo, a multi-family housing development once known as Prospect Towers in Clearwater, will undergo an extensive renovation that will yield much-needed affordable housing for low-income families.
The building was constructed in the early 1970s, where for decades, it served as a “safe haven for low-income seniors,” according to the Tampa Bay Times. In 2020, a buyer purchased the property and increased the rent, displacing many tenants. Now, following the property’s sale to Sunrise Affordable Housing Group, a new start is on the horizon.
The interior of the Indigo. Image from Google Earth
The new Indigo will include 208 renovated homes, with residency available to tenants earning 30 to 80 percent of the area median income (AMI). The Times reports that would range from $25,020 to $66,720 a year for a two-person household. Renovating Indigo Apartments will cost $50 million.
Sunrise Affordable Housing Group purchased the site for $25.5 million. Funding for the project has been made possible by financing through multiple entities, including the Pinellas County Housing Finance Authority and the City of Clearwater.
The Indigo is currently situated at 801 Chestnut St., Clearwater, Florida, 33756, in Pinellas County. It’s located directly east of Clearwater Marine Aquarium and west of Old Tampa Bay.
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