Senior housing community in Largo to officially open

The Pinellas County Housing Authority and Newstar Development will officially open a $31 million affordable housing community for seniors in Largo on Thursday.

The 80-unit community, Heritage Oaks in the city’s unincorporated Ridgecrest neighborhood, will hold a ceremonial ribbon-cutting in the morning featuring officials and residents who have already moved in.

The new apartments are replacing 48 public housing units with one- and two-bedroom apartments designed, according to a statement from the housing authority and developer, “to provide seniors with safe, modernized, and affordable homes.”

Heritage Oaks is the first phase of the Rainbow Village Redevelopment, which will replace 200 aging units with about 400 new affordable apartments for families, individuals and seniors.

The redevelopment plan is part of the Greater Ridgecrest Master Plan that, the statement says, is focused on revitalizing the community through improved housing, new parks and recreation amenities, safer pedestrian infrastructure, and other neighborhood improvements.

“The project is also a product of the Advantage Pinellas Housing Compact, a countywide partnership between Pinellas County and its municipalities to help thousands of individuals and families find a quality home they can afford,” says the housing authority and developer.

“Through the compact, local governments work together to support developments that offer residents quality affordable homes.”

Heritage Oaks was developed with funding from Raymond James Affordable Housing Investments and Raymond James Bank; $3.36 million in Pinellas County Home Investment Partnerships Program funds; State Housing Initiatives Partnership and Community Development Block Grant funds; low-income tax credits allocated by Florida Housing Finance Corporation; PCHA funds; and HUD rental assistance.

All apartments at Heritage Oaks are reserved for seniors earning 60% or less of the area median income.

Correction: This article has been updated to correct the name of Newstar Development.