New apartment community will bring 73 affordable apartment homes to
downtown St. Petersburg in support of ending homelessness
March 28, 2024 — St. Petersburg, FL — St. Vincent de Paul CARES (SVdP CARES) and Ability Housing, Inc., a nonprofit developer of affordable multifamily housing — operating as a joint venture called Ability SVdP, LLC — is scheduled to begin construction on Vincentian Village, bringing 73 affordable apartment units to St. Petersburg.
Vincentian Villages, located at 401 13th Street N., St. Petersburg, Florida, is helping to address the critical need for affordable rental housing in Pinellas County. All residents earn 60 percent or less of the area median income (AMI), and 50 percent of units are reserved for homeless families and individuals. Additionally, a minimum of 15% of total units will be rented to households that require special support, including those with disabilities or requiring independent living services.
“Ability Housing is dedicated to supporting communities where everyone has a home. Through our joint venture with St. Vincent de Paul CARES, we are building housing to serve some of St. Petersburg's most vulnerable citizens,” said Shannon Nazworth, President and CEO of Ability Housing. “By building Vincentian Village, 73 families will have a wonderful new home — and the sense of dignity and security that comes with housing.”
Adjacent to SVdP CARES' Center of Hope shelter, residents of Vincentian Village will have access to individualized and community-based support services, including opportunities to participate in peer support programs to foster inclusion in the community. The site was selected to ensure residents have access to public transportation, primary and behavioral healthcare, employment hubs, training in basic daily living skills, and employee training facilities.
"Vincentian Village is a shining example of how providing homes to those in need is the only solution to homelessness," said Michael Raposa, SVdP CARES CEO. “This project is transformational not only for the more than 75 people who will have refuge from the trauma of homelessness, but also for our city and its approach to supporting our at-risk families.”
Vincentian Village features a building that contains a total of 50 one-bedroom apartments and 23 two-bedroom apartments. Thirty-seven units are reserved for households experiencing or at risk of homelessness. Eleven units are designed to be accessible for individuals requiring independent living services to maintain housing or develop independent living skills, in addition to those with mental disabilities or survivors of domestic abuse. The 1.66-acre property includes amenities such as a community center with onsite leasing offices, a computer lab, library, community space, and space for workshops and trainings.
Funding for the $28 million project has been secured through various State, local and private sources. The Florida Housing Finance Corporation is providing a $2,245,000 Viability Loan as well as funding through the State Apartment Incentive Loan (SAIL) program, along with low income housing tax credits.TD Bank is providing a $15 million construction loan, and a $7,478,253 equity investment is also being provided from Raymond James Affordable Housing Investments. A $1 million subsidy was approved by the City of St. Petersburg City Council on October 20, 2022 from funds provided by the American Rescue Plan Act.
Construction is scheduled to begin in April 2024. PQH Group is the project architect and Bradley Construction Company is the general contractor.
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About St. Vincent de Paul CARES
St. Vincent de Paul CARES is a non-profit organization committed to ending homelessness: making it rare, brief, and one-time. SVdP CARES works to rapidly house those experiencing homelessness within 30 days, while concurrently connecting them to stabilization support services to assist in additional needs. SVdP CARES has an 80% success rate of permanently ending homelessness of those that come into our care. For more information, visit www.SVdP.CARE, like the organization on Facebook and Instagram and follow on Twitter.
About Ability Housing
Ability Housing is an industry-leading not-for-profit multifamily rental housing developer dedicated to creating high-quality affordable housing. We invest in communities through properties that enhance their surrounding neighborhoods, improve each community's quality of life, and connect residents with a network of voluntary support services. For more information, visit www.AbilityHousing.org like the organization on Facebook and follow on Twitter.