Volunteers of America of Florida broke ground November 5 with a new affordable project on 5th Avenue South. The project will bring 50 new affordable mixed-use housing units to the market and is aimed at low-income earners.
“After the pandemic, affordable housing became even more complicated to build because of inflation and the cost, higher construction costs,” said Janet Stringfellow, president and CEO of Volunteers of America of Florida. “But we were able to master these challenges thanks to our community partners.” Stringfellow says there are currently 2,400 people in St. Petersburg who need an apartment without calling home. And the problem keeps getting worse. As the development of affordable housing projects is becoming more and more expensive, wages are stagnating and housing and rental prices rise by 20-30%, the demand is growing faster than affordable housing can become available.
To learn more: Groundbreaking on 50 Affordable Homes in St. Pete
source: SPID Nov/Dec Newsletter
There are many quotes about innovation and how it is fostered. I have several hanging in my office. We recently looked to these as we were deciding the name for our new breakfast series. Our brainstorming kept coming back to the concept that ideas are the beginning - they create the "spark" that fuels innovation.
Congratulations to Sarah Gilbert, Chief Operating Officer of Orlando Health Bayfront Hospital for being named a 2024 BusinessWoman of the Year honoree. We are also thrilled that Sarah has recently joined the Board of Directors for the Innovation District.
Even with an extra day in the month, I am running late with the February newsletter. Its been a busy and exciting time. Last Tuesday we announced a new project - Catching the Blue Wave: Accelerating America’s Ocean Economy.