Affordable housing has been a challenge for many families in St. Petersburg as the cost of living continues to increase. To help keep residents in the city, the city has invested in Metro Development Group's first multifamily development, which will create more affordable housing options for workforce residents.
On Sept. 28, Metro Development Group and Porter Development gathered with St. Petersburg Mayor Ken Welch, City Commissioners and others at the future site of Azalea Cay for a groundbreaking ceremony. The project is a collaboration between Metro Development Group and Porter Development and is being constructed at 1501 72nd St. North.
Azalea Cay will be a multifamily apartment complex, with the first phase including 341 apartments. Of those, 102 will be designated as workforce and affordable housing.
The development will serve families across different income levels and is supported by $11.25 million in public investment from the City of St. Petersburg and Pinellas County.
The groundbreaking marks the start of a development that several officials described as an important project for the city.
“Housing affordability and availability remain among the most pressing challenges facing St. Petersburg and Pinellas County. Too many residents have felt the pressure of rising housing costs. Too many families have had to make difficult choices on whether they can afford to remain in our community,” Welch said. “We know there’s no single project or policy that can solve that challenge, but it takes sustained investment, creative solutions and strong partnerships.”
