Developer opens $25M low-income senior community in St. Pete

By Louis Llovio
| 4:10 p.m. December 10, 2024
| 2 Free Articles Remaining!

Blue Sky Communities has opened a senior living community on 64th Street South with the help of about $6.6 million from the city of St. Petersburg.

Tampa Bay-Lakeland

A new $25 million affordable housing community for seniors is officially opening in St. Petersburg.

The 85-unit community is Bear Creek Commons, and while residents have already moved in, the developer, Blue Sky Communities, is hosting a ceremonial ribbon-cutting Wednesday.

The four-story building at 635 64th St. S. has 47 one-bedroom, one-bath units and 38 two-bedroom, two-bath units. Apartments are reserved for those who meet area median income requirements. Five units are for those with 22% of the AMI, 13 units are for those with 30% of the AMI, 48 units are for those with 60% of the AMI, and 19 units are for those with 80% of the AMI.

In addition to amenities like a fitness room and outdoor recreation space, the property has adult literacy programs, 24-hour assistance for urgent issues and a check-in program.

Carteret Management will manage the building.

Bear Creek Commons was built with about $6.6 million from the city. Blue Sky also worked with the Florida Housing Finance Corp., the Housing Finance Authority of Pinellas County and Raymond James Housing Investments on the project.

St. Petersburg-based Blue Sky was founded in 2012 and is a prolific affordable housing developer with more than 20 affordable housing complexes built.

author

Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.