A 94-unit affordable housing community for seniors is headed to the southeast corner of the Pinellas Trail and 40th Street South in St. Petersburg, after developer Magellan Housing secured $7.05 million in funding for the project known as Trailside Estates II. The apartments, reserved for residents age 55 and older, would sit on the eastern half of the parcel at that intersection, with every unit affordable to households earning up to 80% of the area median income.
According to St. Pete Rising, the project would include 48 one-bedroom and 46 two-bedroom apartments, with 15 units reserved for households earning 30% of AMI or less and another 57 restricted to households earning 60% of AMI or below. Halflants + Pichette is the architect on the roughly $38.6 million development, and Magellan plans to build dedicated pedestrian connections linking the property directly to the nearby Pinellas Trail.
The $7.05 million award comes from the U.S. Department of Housing and Urban Development's Community Development Block Grant-Disaster Recovery program, funded in response to Hurricanes Idalia and Helene, according to St. Pete Catalyst. Trailside Estates II scored 79% during the city's committee funding review, one of six affordable housing developments collectively receiving $40.85 million to support 645 affordable rental units across St. Petersburg, per the same outlet.
Conflicting Timelines for Groundbreaking
Exactly when construction begins remains unsettled in the available reporting. St. Pete Rising's main account states construction is expected to start in January 2028 and finish in March 2029, while a separate, weaker snippet from the same outlet says construction is scheduled to begin in January 2027 and wrap up a year later. Neither version has been confirmed as the authoritative schedule, and Florida YIMBY's reporting on the project notes the development would be the second phase of its predecessor.
A Regional Push for Senior Affordable Housing
St. Petersburg's project arrives amid a broader wave of senior-focused affordable housing in Pinellas County. In Largo, Heritage Oaks opened at the end of 2025 with 80 units, all reserved for seniors earning 60% or less of the area median income — described by FOX 13 News as about $43,800. That $31 million development replaced 48 outdated public housing units and filled completely in under 60 days, according to Newstar Development.
Heritage Oaks is the first phase of the larger Rainbow Village redevelopment, which is planned to eventually replace 200 aging units with roughly 400 new affordable apartments. The station's report notes the plan calls for 80 additional senior units by the end of 2026, with a 120-unit family development expected to break ground early the following year. Heritage Oaks itself drew support from Raymond James Affordable Housing Investments, Raymond James Bank, $3.36 million in Pinellas County funds, tax credits, Pinellas County Housing Authority funds, and HUD rental assistance.
What Comes Next for Trailside Estates II
Back in St. Petersburg, Trailside Estates II still has to move through the stages that typically follow a funding award before shovels hit the ground. The project's location along the Pinellas Trail corridor echoes the city's broader push to pair affordable housing with pedestrian and bike infrastructure, with Magellan's planned trail connections designed to give residents direct access to the popular path. With $7.05 million now attached to the development, the project joins a growing list of Pinellas County communities aimed at easing the squeeze facing lower-income seniors across the region.
