St. Petersburg $42M Affordable Housing Fund Now Open

St. Petersburg began accepting applications May 18 from developers seeking federal grants to build or renovate affordable rental housing. The city is offering approximately $42 million in Community Development Block Grant–Disaster Recovery funds for projects serving households earning at or below 80% of the Area Median Income.

Developers can apply to construct new buildings, substantially rehabilitate existing properties, or convert structures into rental units. The city will select projects through a competitive review process. Applications close today at 5 p.m.

The U.S. Department of Housing and Urban Development allocated the disaster recovery funding to address St. Petersburg's housing needs following Hurricanes Idalia and Helene. The Affordable Rental Housing Program is part of Sunrise St. Pete, the city's broader recovery initiative distributing $159.8 million in HUD grants for long-term recovery, housing, and infrastructure.

Developers can review eligibility requirements and apply at www.stpete.org/ARHP. More information about other Sunrise St. Pete programs is available at www.sunrisestpete.org.