Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
City approves $4.5 million city loan for Sky Town development that will include workforce units
Summary
The City Council unanimously approved a $4.5 million forgivable loan and agreement to support Phase 1 of the Sky Town redevelopment on the former Ceridian site, a mixed-use project that will include 401 units, of which 121 will be income‑restricted workforce apartments.
The St. Petersburg City Council voted unanimously to support a public–private partnership for the Sky Town redevelopment, approving a $4,500,000 forgivable city loan for Phase 1 of the project.
City staff and the developer described the project as a multi‑phase redevelopment of the former Ceridian campus. Mark Van Lew, presenting for the city, said Phase 1 — labeled Site C — will include 401 residential units, of which 121 will be designated affordable workforce housing, and ground‑floor retail anchored by a Sprouts grocery expected to open in October. Van Lew said, “30% of the units in this project are going to be affordable workforce, half at 80%, half at 120%,” and described a financing package that includes developer equity, a $5.5 million forgivable county loan and an estimated $68 million construction loan.
Developer Frank…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
