FPRA approves 99-year ground lease and interlocal amendment to advance Avenue D affordable housing project

The Fort Pierce Redevelopment Agency voted unanimously on Nov. 12 to approve Resolution 25-20, which amends the interlocal agreement with St. Lucie County and authorizes a ground lease between the county, the FPRA and Pinnacle at Morris Creek LLC to facilitate an affordable rental housing project on Avenue D.

City staff and counsel described the ground lease as a long-term (99-year) lease of city parcels to establish site control needed for the developer to apply for Low-Income Housing Tax Credits and secure developer financing. Staff stated the project will produce rental (not resale) units and noted that title issues led to the removal of certain city parcels from the immediate project scope; the developer will focus on Phase 1 parcels under county and FPRA control.

Board members expressed general support but flagged the importance of ensuring title clarity and avoiding roadblocks that could impede financing and groundbreaking. The county board had already approved its portion of the agreement. The board moved, seconded and recorded a unanimous roll-call vote in favor of Resolution 25-20.