Largo Reviews Affordable Housing
by Bill Lopez
LARGO- The Richman Group, developers of Belleair Place Apartments, plans development of additional affordable rental housing on Clearwater Largo Road in Largo. The firm has been a leading developer with nearly 6,000 affordable units completed and another 2,000 under construction.
The Clearwater Largo Road project will essentially be a phase II of the existing Belleair Place Apartments with the addition of approximately 72 rental units. The developer intends to apply for tax credits that are dependent in part on a funding contribution from the City of Largo via a development agreement with the city.
The developer also asked the city to amend its current affordable housing ordinance to allow an increase in the percentage of affordable residential units from 70% to a maximum of 85%.
The commission directed the staff to pursue a development agreement to bring back to the commission for approval.
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