![]() Construction is expected to begin this summer.Avenue5 is growing, and we are in search of a leasing consultant to join our dynamic team of Fivers! Pete, a 20-story 232-unit apartment tower proposed for 1624 Burlington Avenue North. In addition to The Metro, DevMar also developed Vantage, an 11-story luxury apartment building which opened in May 2020 at the northwest corner of 1st Avenue North and 16th Street North in St. Mint House properties feature energy-saving smart thermostats and generate little to no plastic waste, and guests can use Mint House’s Stock Your Stay feature to pre-stock their apartment with groceries and other necessary items prior to check-in.įrequent travelers can also utilize the Mint Pass annual subscription program to receive generous discounts, free nights, a flexible cancellation policy, and other perks.ĭevMar Development originally planned to build an 11-story hotel on the site, but when COVID-19 hit, hotel financing dried up which forced DevMar to abandon its plan and go back to the drawing board. The community, which was constructed by West Palm Beach-based KAST Construction, includes amenities such as a resort-style pool, fitness center, bike rental program, and offsite valet parking. However, stays over 28 days will require a signed lease. The new owners, a real estate investment firm, have engaged Mint House, a New York City-based residential hospitality company, to manage the units as fully furnished, apartment-style, extended-stay units allowing guests to stay for as little as a few days or for months at a time. The Metro, a seven-story 100-unit apartment building nearing completion at 11th Street and 1st Avenue North in the EDGE District, has SOLD for $28.2 million! Petersburg City Council allocated $5,938,214 to the project as well as $3 million in Penny for Pinellas funding. Last fall, the three-story, 121,000-square-foot former hospital was one of seven affordable housing projects to be funded using the City’s funding from American Rescue Plan (ARPA). ![]() In other words, a family of two looking to lease a unit available for those making 60% AMI would need to have a household income less than $39,420 to qualify.Īccording to the city’s Housing, Land Use and Transportation Committee, the project’s housing component will consist of a total of 70 units - five studio apartments, 60 one-bedroom apartments, and five two-bedroom apartments. In 2022, the AMI for a household of two was $65,700. Pete Housing Authority purchased the property and plans to renovate the property and market the project's 70 units to seniors living at 60% or below of the Area Median Income (AMI). The hospital, which opened in 1973, was closed in 2014 due to declining revenue. Pete will be converted into affordable housing for seniors. The shuttered Ed White Hospital building at 2323 9th Avenue North in St. Summit Construction, and HPA Design Group.Ĭompletion of Arya is expected in Fall 2024. Other members of the development team include George F. Dallas-based Humphreys & Partners Architects designed the buildings. The architecture of the buildings will be modern in design and the exteriors will be finished with stucco, Hardie board siding, and Hardie panels. The remaining apartments will be market-rate units. 59 units will cater to households making up to 80% of area median income (AMI) while 66 units will cater to households making up to 120% of AMI. The project was granted $4 million in capital improvement construction funds from Penny for Pinellas affordable housing program.Īs a result, 125 of 415 units are income-restricted workforce housing. Shortly after acquiring the land, Stock proposed a mixed-income multifamily development utilizing the city’s workforce housing density bonus program to achieve a higher density for the site. Stock acquired the 19.97-acre property in June 2020 for $10.8 million which was the former site of Venetian Motor Home Court that housed 150 mobile home units.
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