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Council approves $4.5 million forgivable loan for Skytown redevelopment at former Ceridian site
Summary
The City Council unanimously approved a $4.5 million forgivable loan and related agreement changes to support Phase 1 of the Skytown mixed-use redevelopment on the former Ceridian campus, a project that will include market-rate and income-restricted apartments anchored by a Sprouts grocery.
At its April meeting, the St. Petersburg City Council unanimously approved a $4.5 million forgivable loan and related agreement changes to support Phase 1 of the Skytown redevelopment of the former Ceridian campus.
City staff described the overall project as a 34.3-acre, multi-phase redevelopment that will eventually include more than 2,000 apartments, about 69,000 square feet of neighborhood retail anchored by a Sprouts grocery, and 120,000 square feet of self-storage. Phase 1 (referred to as Site C) will contain 401 apartments, of which 121 units are designated as affordable/workforce housing (roughly 30% of the phase). Mark Van Lew, presenting the proposal for the administration, called the phase “a very shovel-ready project.”
Why it matters: The administration said pairing market-rate units with a modest public subsidy lets the city stretch housing dollars and deliver…
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