St. Pete breaks ground on largest affordable housing project at former Tibbetts Lumber site

ST PETERSBURG, Fla - St. Petersburg leaders broke ground on the 264-unit affordable and workforce housing development in the city on Wednesday.

The backstory:

Former Florida Senator Jeff Brandes grew up on the nearly seven acres located at 3300 Fairfield Avenue South in St. Pete.  It’s where his family’s company, the Tibbetts Lumber Company, used to be located.

"I learned to drive a forklift on this property years before I learned to drive a car," he said. 

"This property has been everything from an orange grove to a seaborne rail line. For the last 50 years, it's been in our family's care as a lumber company, and when we think about what the history of the lumber company was and what it meant to this community, I mean, Tibbetts Lumber, before that, Cox's Lumber, really grew this community and grew along with it and helped build many of the houses that you and I live in today," Brandes said. "So many things have happened on this property for our family and so many memories over the years."

Now, several other families will make memories there. Local leaders broke ground on the Fairfield Avenue Apartments Wednesday. It’s a 264-unit affordable and workforce housing development near St. Pete’s Warehouse Arts District and next to Gibbs High School.

The community will also have a pool, computer labs, bike storage and a bike repair workshop and more.

"This project has been called a unicorn, and it's for a reason," Chair Lisset Hanewicz of the St. Pete City Council, said. "264 affordable and workforce units, permanently affordable, built to last, connected to transit, the Pinellas Trail and everyday services," 

By the numbers:

It will have 74 one-bedroom units, 162 two-bedroom units and 28 three-bedroom units. Fifty-three units will be reserved for households earning at or below 50 percent of Area Median Income. For one person, that’s about $36,500, and for two it’s $41,700. 67 units will be for households earning up to 80 percent AMI. For one person, that’s $58,450, and for two it’s $66,800. 144 units will be for households earning up to 120 percent AMI. For one person that’s $87,600 and for two it’s $100,150.

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"There's a 99-year land use restriction on all these homes to keep them affordable for our residents," Vice Chair Chris Latvala of the Pinellas County Board of Commissioners said.

Dig deeper:

The project was first proposed in early 2022. St. Pete was the first city in Florida to approve an affordable housing development under 2021 state legislation allowing residential projects on industrially zoned land. The site was formerly home to the Tibbetts Lumber Company, founded in the 1970s. 

Fairfield Avenue Apartments LLC, affiliated with St. Pete-based HP Capital Group and former Senator Brandes, bought the site for about $6.2 million.

"Once again, St. Pete is leading the way in implementing innovative affordable housing solutions," said Mayor Kenneth T. Welch. "We are proud to be the first city in the state to approve affordable housing development on industrially zoned land, and we are even prouder that this is our largest affordable housing project to date. One of the most urgent challenges facing our city is access to safe, affordable housing," Mayor Welch said.

A public private partnership helped pay for the $94.2 million, including $9.7 million from the City of St. Petersburg, funding from Pinellas County, a HUD construction loan and developer equity. 

The property will be leased through a trust with the Housing Finance Authority of Pinellas County, ensuring a 99-year affordability commitment. The Pinellas County Housing Authority will own and manage the apartments.

What's next:

The project is expected to be done in late 2028.