In St. Petersburg, a new chapter in affordable housing for seniors has begun with the opening of a $25 million community aimed at providing quality living conditions for low-income seniors.
Bear Creek Commons, located on 64th Street South, has officially opened its doors to residents, marking a significant milestone for affordable housing in the region. The community consists of 85 units, thoughtfully divided into 47 one-bedroom and 38 two-bedroom apartments. These units are designed to accommodate different income levels, with specific allocations for residents earning 22%, 30%, 60%, and 80% of the area’s median income (AMI).
The development of Bear Creek Commons was made possible through a combined effort, with approximately $6.6 million contributed by the city of St. Petersburg. Blue Sky Communities, a reputable developer in the affordable housing sector, spearheaded the project in collaboration with the Florida Housing Finance Corporation, the Housing Finance Authority of Pinellas County, and Raymond James Housing Investments.
Residents of Bear Creek Commons benefit from a range of amenities tailored to enhance their quality of life. These include a fitness room, outdoor recreation spaces, and programs such as adult literacy classes. Additionally, the community offers 24-hour assistance for urgent issues and a check-in program to ensure the wellbeing of its residents.
The management of Bear Creek Commons will be handled by Carteret Management, a firm known for its commitment to efficiently operating residential communities. The ribbon-cutting ceremony is set to take place, although residents have already moved into their new homes.
Blue Sky Communities, established in 2012, has a strong track record in developing affordable housing with over 20 completed projects under its belt, enhancing living conditions for many across the region.
The inauguration of Bear Creek Commons symbolizes a significant advancement in providing dignified and affordable living options for seniors in St. Petersburg. It stands as a testament to the power of collaborative efforts in addressing housing needs, ensuring seniors have access to comfortable and supportive environments.
Source: Businessobserverfl
