In which cities has the $350 monthly rentals promotion started?

Housing remains an issue for many Americans in the face of skyrocketing prices and steep mortgage rates which make home purchases out of the reach of many. Because of the situation of the real estate market, renting has become a cheaper and more viable alternative.

For some residents of Florida, renting a place to live has become even more affordable. A partnership between Pinellas County, the city of St. Petersburg, and a real estate developer that specializes in low-cost homes has inaugurated work on affordable housing units with monthly rents beginning at $358.

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Local Florida officials come together to provide affordable housing

County and city officials, together with the Blue Sky Communities development team, held a groundbreaking ceremony to launch the construction of the first series of apartments of the planned 400 new units.

According to community-powered news platform St. Pete Catalyst, some of the apartments will benefit those who earn less than 80% of the area median income (AMI), which amounts to some $46,000 per year. However, the minimum income threshold is just 22% of the AMI.

St. Petersburg Mayor Ken Welch said the housing development will benefit residents who earn between $6.44 and $22 an hour.

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In which cities has the $350 monthly rentals promotion started?

The project is found within the burgeoning Skyway Marina District, located between 34th Street and 38th Avenue South.

This area boasts a thriving commercial strip, offering convenient access to transportation, supermarkets, and retail outlets.

City officials made use of funds from the American Rescue Plan Act while the county contributed Penny for Pinellas taxes to make the housing project possible.