Pinellas leaders, developer opens affordable senior housing community in Largo: 'We celebrate stability'

New affordable housing for seniors in Largo

There's a new affordable way for seniors to live. Heritage Oaks in Largo opened at the end of 2025 with 80 units, and on Thursday, crews celebrated with a ribbon-cutting. FOX 13's Kailey Tracy reports.

LARGO, Fla. - There's a new affordable way for seniors to live. Heritage Oaks in Largo opened at the end of 2025 with 80 units, and on Thursday, crews celebrated with a ribbon-cutting. 

Local perspective:

Yvette Feazell has lived in Pinellas County for nearly 40 years, and about a year and a half ago, rent became too expensive.

"I could no longer afford to live in my apartment because of fixed income and there weren't very many options for seniors, such as myself, on fixed income," she said. "So, I had to go live with my daughter and her husband and her four children. I love my family, but I felt that I was imposing on them."

Then, she found Heritage Oaks.

"I feel euphoria. It's a beautiful state-of-the-art facility. I feel that it's safe, and I feel it's affordable," Feazell said.

Dig deeper:

"In under 60 days, they were able to fill the entire thing," Justin Corder, the vice president of development for Newstar Development, said. "So, that goes to show you how much need there is in Pinellas County for this affordable housing."

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Newstar Development and the Pinellas County Housing Authority worked on the project together. Representatives from both cut the ribbon along with local and state leaders on Thursday, celebrating the apartment complex’s opening. 

"We celebrate stability, dignity and the promise that everyone deserves a place to call home," Chloe Firebaugh, the chair of the Pinellas County Housing Authority Board of Commissioners, said.

By the numbers:

The 80-unit affordable senior housing community replaces 48 outdated public housing units. All Heritage Oaks apartments are for seniors earning 60% or less of the area median income, which is about $43,800.

"This is just an unbelievable day," Chair Dave Eggers of the Pinellas County Commission said. "Quality housing for fixed-income seniors and others at affordable rents. I mean, it's not that complicated, and yet, getting here is very complicated."

"Each development makes a huge difference to individual families," Eggers said.

Big picture view:

Heritage Oaks is the first phase of the Rainbow Village redevelopment, which will replace 200 aging units with about 400 new affordable apartments for seniors, individuals and families. 

"In the end of 2026, we're going to have 80 more senior units going up, and I do think, fingers crossed, the third phase of Rainbow Village redevelopment, Grand Oaks. We hope to break ground at the beginning of next year, and that's going to be 120 family units. So, there's a lot going on," Corder said.

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"We're not only improving this site," Sam Shupe, senior vice president and director of feasibility for Raymond James Tax Credit Funds, said. "We're not improving life for just our residents. We are building up a neighborhood. We're changing this community. We're going to give pride of ownership."

What's next:

The redevelopment of Rainbow Village is a big part of the Greater Ridgecrest Master Plan, a long-term partnership between residents and the Pinellas County government. That partnership focuses on revitalizing the unincorporated part of Largo through improved housing, new parks, safer pedestrian infrastructure and more.

The $31 million Heritage Oaks development was supported by several partners, including funding from Raymond James Affordable Housing Investments and Raymond James Bank, $3.36 million in Pinellas County HOME Investment Partnerships Program (HOME), State Housing Initiatives Partnership (SHIP), and Community Development Block Grant (CDBG) funds, low-income tax credits allocated by Florida Housing Finance Corporation, PCHA funds and HUD rental assistance.

The project is also part of the Advantage Pinellas Housing Compact, a partnership between Pinellas County and its municipalities to help people find affordable homes.