St. Pete’s continued efforts to increase the availability of affordable housing just got a huge boost, as the City of St. Petersburg just launched a new initiative it is calling the Affordable Rental Housing Program (ARHP).
With the help of Sunrise St. Pete, the city’s disaster recovery program, the program will distribute $42 million in federal funding from Sunrise St. Pete to go towards “the construction, substantial rehabilitation, or conversion of affordable rental housing units for households earning at or below 80% of the Area Median Income (AMI).”
Sunrise St. Pete was established to help residents and communities recover after destructive hurricanes, Idalia and Helene. The combination of rising rents and diminished housing opportunities due to damage in residential flood zones has exacerbated the affordable housing issues in St. Pete, and this program is aimed at combatting those problems…