ST. PETERSBURG, Fla. (WFLA)– St. Petersburg and Pinellas County officials held a ribbon cutting on Tuesday for SkyWay Lofts, a 65-unit affordable apartment community reserved for residents earning less than 80 percent of area median income.
SkyWay Lofts is the first of many new affordable housing developments supported by a new countywide partnership aimed at adding thousands of units to the area over the next decade.
The county and city have approved nearly 900 affordable homes for funding support with the Penny for Pinellas in the past two years alone, with many currently under construction by local developers.
“These are folks that are your teachers, your first responders, the folks that work in health care facilities,” Pinellas County Commission Chairman Charlie Justice said. “With the rents going up we need to find a way to make sure the folks that we want in our community have a place to stay in our community.”
On average, according to rentcafe.com, the average cost of a one-bedroom apartment in St. Pete is nearly $1,800. SkyWay Lofts will start at $762 for a one bedroom and $901 for a two bedroom.
The homes are reserved for residents earning 80 percent of the median income. For a single-person household, that would be $41,350.