Blake Investment Partners Commits to Record Affordable Housing Investment as Part of St. Petersburg 3.0 Vision
St. Petersburg, Fla. — In its latest St. Petersburg 3.0 video, Blake Investment Partners reaffirmed that meaningful affordable housing commitments require proven partners, deep local roots, and the capacity to deliver at scale.
St. Petersburg 3.0 refers to a forward-looking redevelopment approach that prioritizes affordability, economic opportunity, and long-term community benefit while honoring the city’s history.
To meet that standard, Blake Investment Partners has partnered with Blue Sky Communities, one of Florida’s most experienced affordable and workforce housing developers, to help advance a housing vision focused on affordability at the Historic Gas Plant District and throughout the City of St. Petersburg.
“Commitments to affordable housing don’t mean anything unless you have a team in place to actually get it done,” said Scott McDonald, Principal at Blue Sky Communities. “Our family of companies has been building affordable housing in St. Petersburg since the early 1970s, and across Florida we’ve helped develop more than 3,000 homes. At our core, we believe every person deserves a safe, affordable place to live.”
A Record-Setting Commitment to Housing Affordability
As part of the St. Petersburg 3.0 vision, Blake Investment Partners plans to deliver more income-restricted and attainable housing units than any development in the city’s history, pairing on-site affordability within the district with additional affordable and workforce housing investments across St. Petersburg. This approach reflects a long-term commitment to addressing housing access citywide.
“At the historic Gas Plant, we’re ready to deliver affordable and workforce housing not only within the district, but across the city,” McDonald added. “This isn’t just another project. This is St. Pete. It’s our home.”
Built on Experience, Accountability, and Local Care
By teaming with Blue Sky Communities, Blake Investment Partners brings together national development capacity with decades of local affordable housing expertise. The partnership emphasizes:
- Deep local experience delivering income-restricted housing under long-term affordability requirements established through federal and state housing programs;
- Citywide impact, expanding housing access beyond the redevelopment footprint; and
- Community accountability, through established relationships with local governments, housing authorities, and public funding agencies.
Together, the team aims to set a new benchmark for how major redevelopment projects can directly address St. Petersburg’s housing challenges while honoring the site’s history and future generations.
Blue Sky Affordable Housing Projects in St. Petersburg
- SkyWay Lofts – A 131-unit family housing community offering affordable one- and two-bedroom homes in South St. Petersburg, designed with modern amenities for working families;
- Bear Creek Commons – An 85-unit affordable community, featuring one- and two-bedroom apartment homes tailored for seniors;
- Brookside Square – A rehabilitation of a 142-unit family housing property that preserves long-term Section 8 affordability;
- Peterborough Apartments – A 150-unit community serving seniors with safe, affordable housing in downtown St. Petersburg.
These developments over the last decade demonstrate Blue Sky Communities’ ongoing role in delivering income-restricted housing in collaboration with public and financing partners.
About Blake Investment Partners
Blake Investment Partners is a real estate development firm focused on transformative projects that deliver long-term community value through thoughtful design, strategic partnerships, and inclusive growth.
About Blue Sky Communities
Blue Sky Communities is a Florida-based affordable and workforce housing developer with more than 50 years of experience and over 3,000 homes developed across the state. The firm is committed to ensuring safe, high-quality, and affordable housing for working families and seniors.
Media Contact
Caryn Nesmith
caryn@commbuilding.com
202-288-6114