Affordable housing market headwinds have reached gale force due to tariffs, legislative uncertainty, labor shortages and general cost increases.
The City of St. Petersburg plans to help 33,800 residents secure affordable housing or remain in their homes by 2030. Providing 25,000 people with tenant assistance is a new goal as monthly rents for an 880-square-foot apartment have surpassed $2,000.
City council members heard a much-anticipated update Thursday on the Housing Opportunities for All Plan. While St. Petersburg is on pace to meet most of its objectives, the per-unit public subsidy needed to facilitate construction has reached $100,000. That number could continue climbing…