POLISCOPE
Back to feed
NewsSt. Pete RisingAugust 11, 2026Pinellas

Newstar Development and Pinellas County Housing Authority file permits for 120 affordable apartments in Largo

Newstar Development and the Pinellas County Housing Authority have submitted construction permits for the third phase of the Rainbow Village redevelopment, known as Grand Oaks. This project will replace 62 older public housing units with 120 new affordable apartments for families earning 30% to 80% of the area median income.

affordable housingurban developmentpublic housingLargoPinellas County
Read the full story at St. Pete Rising

Why It Matters

The $48.7 million project will replace existing public housing with 120 new affordable units and community amenities in the Greater Ridgecrest neighborhood of Largo.

Key Facts

  • The project is the third phase of a four-phase redevelopment plan for Rainbow Village.
  • The development will replace 62 older public housing units with 120 new affordable apartments.
  • The total cost of the development is $48.7 million.
  • Eligibility is restricted to families earning between 30% and 80% of the area median income (AMI).
  • The project includes 33 one-bedroom units (741 sq ft), 60 two-bedroom units (1,066 sq ft), and 27 three-bedroom units (1,341 sq ft).
  • Planned amenities include a clubhouse, fitness center, sports courts, green space, wellness center, playground, and youth recreation center.
  • The site is located at 13224 Washington Drive in the Greater Ridgecrest neighborhood of Largo.

Who's Mentioned

otherGrand Oaks“The third phase of the Rainbow Village redevelopment”organizationPinellas County Housing Authority“Partner in the redevelopment project”locationPinellas County“Local government partner and permitting authority”organizationRaymond James Affordable Housing Investments“Equity provider for the project”organizationSouthState Bank“Construction loan provider”location13224 Washington Drive“Site of the development”organizationFlorida Housing Finance Corporation“Awarded 9% Low-Income Housing Tax Credits”organizationNewstar Development“Lead developer for the Rainbow Village redevelopment”organizationCapital One“Permanent loan provider”