The Indigo Apartments is a 17-story high-rise aimed at advancing equitable housing solutions in Clearwater. Sunrise Affordable Housing Group will acquire the property in April 2025, transitioning it into the Low-Income Housing Tax Credit (LIHTC) program with affordability set-asides at 30%, 60%, and 80% of Area Median Income (AMI). Substantial exterior and building envelope improvements will modernize the property without requiring tenant relocation.
The project aligns with Clearwater’s Strategic Plan to support equitable housing and reduce homelessness. Federal financial support includes a HUD 221(d)(4) loan (~$20M) and Project-Based Vouchers from the Clearwater Housing Authority. The acquisition complies with the Uniform Relocation Act (URA), ensuring tenant protections for those impacted by income thresholds.
Location: 801 Chestnut St., Downtown Clearwater, FL Property Overview:
Total CRA Investment: $2,000,000
801 Chestnut St, View Map
801 Chestnut St ,