St Petersburg, FL – December 11, 2024 – Local leaders, community members, and development partners came together to celebrate the official ribbon cutting for Bear Creek Commons, an affordable senior housing community located at 635 64th Street South, St. Petersburg. The event, held at 3:00 PM, marked a milestone in addressing the critical need for affordable housing in the area.
The ceremony featured remarks from Executive Vice-President and CFO of Blue Sky Communities, Scott Macdonald, St. Petersburg Mayor Kenneth Welch, and St. Petersburg City Council Vice-Chair Copley Gerdes, highlighting the collaborative efforts behind the affordable housing community.“Affordable housing for all St. Petersburg residents is a top priority of my administration because we know that stable housing opportunities create strong neighborhoods and a thriving community,” said Mayor Kenneth T. Welch. “Bear Creek Commons will serve some of our most vulnerable populations by providing safe and secure housing for our seniors and elderly residents; and ultimately, the success of this project demonstrates the importance of innovative public-private partnerships to improve the quality of life for St. Petersburg citizens. I look forward to seeing the impact of Bear Creek Commons will have on its community while also remaining committed to increasing housing opportunities for all.”
Bear Creek Commons broke ground in June 2023 and now offers 85 energy-efficient rental units, including 47 one-bedroom/one-bathroom units and 38 two-bedroom/two-bathroom units. The property is reserved for seniors, with rents available at 30%, 60%, and 80% of Area Median Income (AMI)*.
Managed by Carteret Management, Bear Creek Commons provides residents with a range of amenities, including a game room, art hall, and gazebo. In addition, Carteret Management offers residents 24-hour support to assist residents with urgent needs, a resident assurance check-in program, adult literacy programs, and assistance with light housekeeping, shopping, and laundry.
The property represents a $25 million investment in the community, with financing supported by Florida Housing Finance Corporation, Pinellas County Housing Finance Authority, Raymond James Affordable Housing Investments, TD Bank, and Raymond James Bank. The City of St. Petersburg contributed a total of $6.6 million, which included $4.6 million from City funding sources for construction and $2.1 million from Penny Land Trust funds for property acquisition and demolition of the former church on the property. Notably, Bear Creek Commons was among the first projects funded by the Penny for Pinellas Affordable Housing Program.
City of St Petersburg initiated an affordable housing opportunity at this site which at the time functioned as a church. After facing neighborhood opposition, the city backed off their plans then Blue Sky was able to make a deal with the church, applied for re zoning and in summer of 2020 in height of Covid in a virtual meeting the then city council did approve rezoning and the motion for the rezoning was led by Robert Blackmon.Bear Creek Commons demonstrates the potential of public-private collaboration to create safe, affordable housing for seniors while strengthening the St. Petersburg community.
-
A limited number of units are available at 22% AMI.
About Blue Sky Communities, LLC
Formed in 2012, Blue Sky Communities is Tampa Bay’s hometown affordable housing developer. We are active across Florida developing new and rehabilitating existing multifamily housing communities. Blue Sky acts as a leading advocate for helping nonprofit groups and local governments reach their affordable housing goals by developing state-of-the-art, environmentally sound affordable housing units.
