Affordable Housing Project coming to Largo
In November 2022 Developer Archway Partners closed on 4.8 acres for 3.8 million where they intend to construct an affordable housing project. The sale price was $791,666 per acre. The project dubbed Seminole Square Apartments, will be available to households that have incomes between 30% AMI and 80% AMI. The project is located at 2075 Seminole Boulevard and will have a total of 96 units.
Construction began at the end of 2022, and developers are now just weeks from going vertical on the project. Most of the units will be rent reduced, so residents making less than 80% AMI would pay anywhere between $800 and $1,300 for the units. Other units will be subsidized for section 8 vouchers. At least 25 units will be reserved for households at 50% AMI. The property will be placed in the Pinellas County Housing Finance Authority Land Trust for 99 years. The project is expected to be completed in 2024.
Source: Tampa Bay Business Journal
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