A new development on Lake Seminole will provide 64 apartment homes to people with disabilities, particularly for veterans.
The new community, called Valor Preserve, will offer 58 one-bedroom and 6 two-bedroom apartments in one- and two-story buildings. The apartments will be in the style of Key West bungalows. Half of the units will be set aside for people with disabilities and the entire development will favor veteran applicants. Construction should be completed by spring 2024.
All apartments are for renters making no more than 60 percent of the Area Median Income. This equates to $34,500 annually for an individual and $39,420 annually for two-person households.
The Pinellas County Housing Authority will be releasing application details in early 2024.
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Pinellas County Government is supporting Valor Preserve with $1.7 million in local funds from the State Housing Initiatives Partnership Program. Financing for the project is possible through support from Raymond James Affordable Housing Investments, TIAA Bank, Florida Housing Finance Corporation, The Home Depot Foundation and land acquisition funds from the Pinellas County Housing Authority.
Valor Preserve is the latest public-private partnership by the Housing Compact. The Housing Compact is an agreement by local governments to create lasting solutions for countywide housing.
In 2022 alone, Pinellas County and city partners supported the creation of 1,100 affordable homes.
