SPHA Buys Senior Housing Apartments
ST. PETERSBURG, FLORIDA – On February 21, 2012, the St. Petersburg Housing Authority (SPHA) finalized the purchase of Sunset Oaks Apartments, a 38-unit senior housing development, from 4888 Recovery LLC. Sunset Oaks Apartments, located at 4888 21st Avenue North in St. Petersburg, will become part of SPHA’s public housing program as an option for income-eligible senior citizens.
Joseph Lettelleir, chairman of the SPHA Board of Commissioners, said, “There is a definite need for quality, affordable housing for the elderly in this region. The Sunset Oaks development will help serve that need, and we look forward to working hand-in-hand with community members to ensure it is a beautiful place to live.”
SPHA Chief Executive Officer Darrell Irions said, “Seniors in our community shouldn’t have to struggle each month to pay the rent or worry about the quality of their housing. Sunset Oaks will provide attractive, sustainable apartments for the elderly that will fit within their monthly budgets and should help them alleviate some worries.”
With rent at approximately 30 percent of each resident’s adjusted monthly income, Sunset Oaks Apartments will be an affordable option for seniors who are living on fixed incomes. Eligible residents must be ages 50 or older with incomes up to 80 percent of the Area Median Income (AMI).
Sunset Oaks Apartments offers 26 one-bedroom units at 632 square feet and 12 two-bedroom units from 936 to 1152 square feet. The development was recently renovated by the seller, including fresh exterior and interior paint, new sod, and updated cabinets and countertops in select units.
To purchase the apartments, SPHA used federal Public Housing Replacement Housing Factor dollars, along with a portion of the proceeds from the 2010 sale of Graham Park Apartments.
With the addition of Sunset Oaks, SPHA now owns or administers 371 public housing units, 34 affordable housing units, and more than 3,300 Section 8 / Housing Choice Vouchers, U.S. Department of Housing and Urban Development (HUD)-Veterans Affairs Supportive Housing (VASH) vouchers, and project-based housing vouchers. For more information about SPHA’s housing programs, please visit www.stpeteha.org.
About St. Petersburg Housing Authority (SPHA):
Founded in 1937, the St. Petersburg Housing Authority (SPHA) is one of the oldest housing authorities in the nation and is continually rated by the U.S. Department of Housing and Urban Development (HUD) as a “High Performing” agency. Currently, SPHA provides housing assistance to qualifying low-income families within its service area, which includes the City of St. Petersburg and extends in a 10-mile radius outside of city limits. SPHA has received national awards and recognition for its innovative programs, including the Economies of Scale program, the Jordan Park HOPE VI redevelopment program, the Section 3 program, and the Fraud Recovery program. More information about SPHA’s programs and services can be found at www.stpeteha.org.
For immediate release: Feb. 23, 2012
Audra Butler, SPHA Communications Officer
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