75 new senior units in St. Petersburg start at $1,206 monthly rent

Renters in St. Petersburg now have 75 new affordable housing options for seniors in the Historic Kenwood neighborhood. The new five-story building at 3295 Burlington Avenue North, named Burlington Post II, opened with monthly rents starting at $1,206. The top end of the price range is $1,958 for the largest units. Every apartment in the building is income restricted, and the property must remain affordable for a minimum of 50 years.

The development replaced a surface parking lot that previously served Burlington Post, the first phase of the project. That initial building opened in 2018 with 86 senior apartments and is currently 97% occupied. Construction on the second phase began in 2024 and the building began accepting residents in August. By the time of the ribbon-cutting ceremony held last Wednesday, 56 people had moved into their new homes.

The apartments range from one to two bedrooms with sizes between 740 and just over 1,000 square feet. Units include vinyl flooring, stainless steel appliances, energy-efficient equipment, walk-in closets, and washer and dryer hookups. The income tiers are strictly defined. Five units are reserved for households earning at or below 22% of the area median income. Twelve units are for those at or below 30%, and 34 units are for those at or below 60%. Another 12 units are reserved for households earning at or below 70% of the median, and the final 12 are for those at or below 80%.

For the 80% area median income tier, the 2026 annual income limit is $64,250 for a single person. The limit for a three-person household is $82,600. Lower income tiers have corresponding lower qualifying limits. Residents have access to a fitness center, a library, a business center with computers, a game room, and 24-hour laundry rooms. Outdoor amenities include a garden, a cooking station, and fire pits. The site also features a parking garage, bike storage, and on-site management.

The total project cost was $30.4 million. Funding came from a mix of city, county, state, and private sources. The City of St. Petersburg committed $5.83 million using federal Emergency Rental Assistance, American Rescue Plan Act funds, and community redevelopment area dollars. Pinellas County contributed $3.75 million. The Housing Finance Authority of Pinellas County issued $16 million in short-term bonds.

The financing package also included approximately $12 million in low-income housing tax credit equity. Fifth Third Bank provided construction financing. Raymond James Affordable Housing Investments purchased the tax credits as a limited partner. Neighborhood Lending Partners of Florida was also among the project lenders. These funds were necessary as construction costs rose in the years following the pandemic.

Tabari Lewis, community manager for Royal American Management, stated that many residents discovered the property through friends, family, or city housing services. He noted that rising rents in their previous homes made those places increasingly difficult to afford. Lisset Hanewicz, a St. Petersburg City Council member, spoke at the celebration. She said the new building provides seniors with stability, peace of mind, and independence.

Green Mills Group, based in Fort Lauderdale, developed the project. The company is also working on another affordable housing development in St. Petersburg. That project, called Heritage Grove, is located at 951 22nd Street South. It is planned to include 54 affordable apartments and up to 2,500 square feet of ground-floor retail space. Green Mills anticipates starting construction on Heritage Grove in early 2027 and completing it by mid-2028.