540 Town Center

540 2nd Ave S, Saint Petersburg, Florida 33701

Discover a more enjoyable and less stressful daily lifestyle. 540 Town Center is a 145 unit high-rise apartment building for seniors, located in beautiful downtown St. Petersburg. Residents can participate in the many activities of this busy waterfront downtown community. 540 Town Center is convenient to banks, shopping, theaters, post office, churches, museums, restaurants, bus transportation, parks and much more. There are three major hospitals and many medical facilities located within a five mile radius of 540 Town Center. There are two sports complexes within walking distance and a major university also conveniently located nearby.

 

The waterfront area and the beautifully landscaped parks nearby make living in downtown St. Petersburg a unique experience. Make an appointment today to see 540 Town Center and what we have to offer.

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) 550 Income Based

540 Town Center Details

  • 146 one bedroom units.
  • Water and Sewer utilities included in rent
  • Section 202 Supportive Housing for the Elderly
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • On-Site Maintenance
  • Pet Friendly

Unit Amenities

  • Keyless Entry Access
  • Water Trash and Sewer Included

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Saint Petersburg HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Saint Petersburg but actual income limits may differ for units at 540 Town Center.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $15,550 $17,750 $21,960 $26,500 $31,040 $35,580 $40,120 $44,660
50% $25,850 $29,550 $33,250 $36,900 $39,900 $42,850 $45,800 $48,750
80% $41,350 $47,250 $53,150 $59,050 $63,800 $68,500 $73,250 $77,950

540 Town Center is managed by Carteret Management.

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