ST. PETERSBURG, Fla. — Volunteers of America of Florida will break ground a new affordable project on 5th Avenue South today.
The project will add 50 new mixed-use affordable housing units to the market, and will target low wage income earners.
What You Need To Know
- New afordable housing project to be built on 5th Ave
- 50 new mixed-use affordable housing units
- Volunteers of America of Florida
"Post pandemic, the construction of affordable housing became even more complicated because of inflation and the cost, the higher cost of construction," said President and CEO of Volunteers of America of Florida Janet Stringfellow. "But we were able to overcome those challenges thanks to our community partners."
Stringfellow says right now in St. Petersburg there are 2,400 people in need of housing with no place to call home.
And the problem is getting worse.
With affordable housing projects becoming more expensive to develop, wages stagnant and housing and rent prices up 20-30%, the need is growing faster than affordable housing can become available.
Affordable housing developments were challenging even before the pandemic began.
"The affordable housing crisis is what we call the pandemic before the pandemic," Stringfellow said."
Volunteers of America of Florida says it is optimistic the city of St. Petersburg may soon offer incentives for new affordable housing projects.
St. Petersburg's new Mayor Elect Ken Welch made affordable housing one of his priorities on the campaign trail.