BlueSky Communities proposes $17.5 million apartment complex in downtown Bradenton
BY MARK YOUNG via Bradenton.com
BlueSky Communities, a developer with more than 20 years of experience building workforce rental housing, is seeking to develop a vacant lot near the corner of Ninth Street and Sixth Avenue East using federal tax credits.
Bluesky hopes to use the tax credits to pay for the majority of the estimated $17.5 million complex.
According to Shawn Wilson, president of BlueSky, the Duet Apartment complex is only in a conceptual design but will feature two, three-story buildings encompassing four-acres of the six acre lot and come with all of the typical amenities such as a pool, fitness center, courtyard and playground.
The only difference between the proposed Duet complex and any standard complex is that because federal tax credits are being used, the rent prices are targeted for workers making between $10-$15 an hour, he said.
Expected starting prices for a one-bedroom apartment are $561 with a three-bedroom apartment starting at $779 a month.
Wilson said tenants would undergo criminal background checks and employment verification before being allowed to rent and must make less than 60 percent of the average median income in Manatee County. Wilson said he isn’t sure of the county’s median income. According to the U.S. Census Bureau, the median income in Manatee County as of 2012 is $47,910.
He said it is not a Section 8 housing unit, but qualified tenants with a Section 8 voucher would be allowed to rent.