The St. Petersburg Housing Authority sold two properties for $6.8 million.
Urban Style Flats LLC has agreed to buy a pair of properties next to Tropicana Field from the St. Petersburg Housing Authority for $6.8 million.
Phil Farley, representing Urban Style Flats, will begin renovating the properties' 486 units immediately. They will eventually be offered as affordable housing units to first responders, educators and students, a release said.
“The board felt that Mr. Farley's redevelopment plan for the Graham and Rogall properties best met the needs of both the housing authority and the local community,” said Dr. Arnett Smith, chairman of the SPHA's Board of Commissioners.
Proceeds from the sale will be used to develop and acquire additional affordable housing units, the SPHA stated in the release.