CLEARWATER, Fla. — It's not often that we hear about affordable housing in the Tampa Bay area. But, it's coming and this time, it doesn't have to be built.
Clearwater officials approved a proposal to convert Indigo Apartments back to affordable housing. This is great news for many, especially some current renters.
“That’s great,” said Samual Dome.
Dome has lived at Indigo for a few years and his reason is its prime location. It’s on Chestnut street in the heart of Downtown just a few miles from the beach. It's also conveniently located along a bus route.
“I’m here just because of that. It’s cool, and I bar tend on the beach.”
But, living there has become bit costly for him and saving money isn’t an option.
"I’m in a studio. The base rent is $1,258. Then with utilities I pay $1,450,” he said.
That won’t be his story for long, hopefully. With this approved plan to revert the apartments back to affordable housing, renters like Dome can expect a huge rent cut.
According to the city, anyone making between 30% to 80% of the median income can expect a rent cut.
“Sounds good to me,” said Dome.
There are 59 current renters who live there and make too much, so they will have to move. But the city says the developer has agreed to help those renters relocate.
The project will cost about $47 Million. It will be split between the city, Housing Redevelopment Agency, and Pinellas County. The rest will come from a federal loan, tax credits, and deferred developer profits.
“This is an exciting project for us all here in Clearwater, but really for all of Tampa Bay,” said Mayor Bruce Rector. “Housing is a tremendous challenge for every city."
Right now there are only six affordable housing apartments in the city. But, the mayor says there are more projects in the pipeline.
"We just broke ground on Clearwater Gardens on Cleveland Street,” he said. “Our challenge in Clearwater, throughout Pinellas County and Tampa Bay is finding available land.”
He event hinted at the possibility of turning unused buildings, like old schools, into affordable housing apartments.
“We’re open to any creative idea we can get, because available land for these projects is our greatest challenge.”
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