Florida Construction News staff writer
A construction milestone was reached as the topping out was celebrated at Bear Creek Commons by Blue Sky Communities, along with project contractor Park & Eleazor. Located at 635 64th St. S. in St. Petersburg, the four-story building will offer 85 units to residents 55 years old and older.
A part of the Housing For Opportunities All Plan, the development addresses the growing need for affordable housing in the area.
“Affordable housing for all St. Petersburg residents is a top priority of my administration,” said Mayor Kenneth T. Welch. “We know that stable housing creates strong neighborhoods and a thriving community. Bear Creek Commons is a shining example of how public-private partnerships can successfully address the needs of our most vulnerable residents.
“By providing safe, secure housing for seniors, we are not just meeting a need—we’re strengthening the fabric of our entire community. This is only the beginning, and we remain committed to expanding affordable housing opportunities for all.”
Crews broke ground in June 2023 and now includes 85 energy-efficient rental units, including 47 one-bedroom and 38 two-bedroom apartments. The property is specifically reserved for seniors, with rental rates set at 30%, 60%, and 80% of the Area Median Income (AMI)*, ensuring that the homes are affordable for a wide range of income levels.
The development also provides amenities, including a game room, an art hall, and an outdoor gazebo.
The total construction cost is $25 million, with financing support from the 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 $4.6 million for construction and $2.1 million for property acquisition and the demolition of a former church on the site.
Bear Creek Commons was among the first developments to be funded through the Penny for Pinellas Affordable Housing Program.
