Under a bright St. Petersburg sky, shovels broke ground and a cornerstone was blessed at Palm Lake Christian Church, marking a milestone moment for affordable housing in the city. Community leaders, housing advocates, and neighbors gathered to celebrate the launch of Palm Lake Urban Sanctuary (PLUS) — an 86-unit development that blends faith, public partnership, private investment, and affordable homes in Pinellas into a new model for neighborhood-rooted housing.
The project is being developed by Newstar Development in partnership with Palm Lake Christian Church and the Pinellas County Housing Authority, transforming previously underutilized church land into a community designed for working families and individuals earning up to 80 percent of Area Median Income.
Palm Lake Urban Sanctuary will bring 86 one- and two-bedroom apartments to the heart of St. Petersburg, offering long-term affordability alongside features that support everyday life, including energy-efficient appliances, a community garden, and a playground. For Newstar Development, the project reflects the firm’s long-standing focus on affordable and workforce housing — work that began in Florida in 2008 and has since expanded through partnerships with public housing authorities, nonprofits, and community redevelopment agencies across the state.
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Beyond its scale, the development carries historic significance. PLUS is the first affordable housing project approved under a City of St. Petersburg ordinance that allows affordable housing on residential, commercial, or industrially zoned land, signaling a shift in how the city approaches land use and housing access.
For Palm Lake Christian Church, the decision to redevelop its property was rooted in faith and mission.
“For Palm Lake Christian Church (Disciples of Christ), it is quite simple, Jesus commands us to ‘Love our neighbor as we love ourselves,’” said Pastor Oscar Banks. “We who have housing and the ability to utilize God’s gifts of land and resources are called to seek creative ways to provide housing for those in need. God’s love is not limited to those who believe like us, it expands beyond our walls and ideologies.”
That shared sense of purpose is what helped bring together a complex public-private partnership — one that Newstar Development helped structure by leveraging its experience securing competitive financing through established tax credit syndicators and lenders.
“Palm Lake Urban Sanctuary reflects Newstar’s focus on empowering lives one community at a time, and we are proud to help our amazing partners, Palm Lake Christian Church and Pinellas County Housing Authority, advance their missions,” said Brian Evjen, president of Newstar Development. “PLUS also stands as a unique public-private partnership between our development and financial partners and the City of St. Petersburg, which provided critical support not only by approving our development plan, but also by providing significant financial support.”
The Pinellas County Housing Authority echoed that sentiment, emphasizing the broader neighborhood impact of the development.
“The Pinellas County Housing Authority is committed to strengthening neighborhoods across our community by expanding access to quality, affordable housing,” said Neil Brickfield, Executive Director of the Pinellas County Housing Authority. “Palm Lake Urban Sanctuary represents a shared commitment to building strong neighborhoods and creating opportunity for the families who will one day call this community home.”
Financing for Palm Lake Urban Sanctuary reflects the layered approach often required to bring affordable housing projects to life. The development is supported by low-income housing tax credit equity, construction and permanent loans from Bank of America, funding from the Pinellas County HOME Investment Partnerships Program and State Housing Initiatives Partnership, Community Development Block Grant funds from the City of St. Petersburg, tax credits allocated by the Florida Housing Finance Corporation, and additional support from the Pinellas County Housing Authority.
As construction moves forward, Palm Lake Urban Sanctuary stands as a tangible example of how faith institutions, local government, and mission-driven developers like Newstar Development can work together to address one of Tampa Bay’s most pressing challenges — creating housing that is not only affordable, but deeply connected to the community it serves.