St. Petersburg is spending $500,000 a unit to subsidize affordable housing. Seriously? | Editorial

Is affordable housing actually affordable if taxpayers contribute $500,000 to build each home? This isn’t some sort of “if a tree falls in the forest” mind game. St. Petersburg City Council members contemplated a similar question earlier this month. The majority of them answered yes. They greenlit a project that will require more than $12 million in subsidies to build 24 townhomes. Not 240. …