Wood Partners Expands Affordable Housing in Florida with Alta Roosevelt

New 381-unit multifamily community in St. Petersburg to include 40% affordable units

Apr. 6, 2026 at 1:45pm

Got story updates? Submit your updates here. ›

National multifamily developer Wood Partners has officially closed on Alta Roosevelt, a new 381-unit apartment community in St. Petersburg, Florida. The centrally located development was entitled through the city's affordable housing code and Florida's Live Local Act, with 40% of the units reserved for residents earning at or below 120% of the area median income.

Why it matters

The addition of Alta Roosevelt will help meet the strong demand for attainable housing in the St. Petersburg market, providing modern living options and community spaces for residents. The project's location near major employment hubs and its mix of affordable and market-rate units make it an important contribution to the city's housing landscape.

The details

Alta Roosevelt will be a five-story community featuring a mix of one-, two- and three-bedroom apartment layouts. Amenities will include a resort-style pool, grilling stations, garden pavilions, a fitness center, and a wellness-focused spa area. Residents will also have access to a clubhouse with co-working spaces, a game room, lounges and a golf simulator. The existing office building on the 11.56-acre site will be demolished, while the structured parking garage will be retained and upgraded.

  • Wood Partners officially closed on the Alta Roosevelt site in April 2026.
  • The project is slated to break ground in May 2026 and deliver in April 2028.

The players

Wood Partners

A national leader in the development and construction of multifamily communities across the United States, with involvement in the acquisition and development of more than 115,000 multifamily homes.

Tyler Hurd

The managing director at Wood Partners overseeing the Alta Roosevelt project.

City of St. Petersburg

The local government that approved the Alta Roosevelt project through its affordable housing code and the state's Live Local Act.

Got photos? Submit your photos here. ›

What they’re saying

“We're looking forward to partnering with the City to deliver much-needed, high-quality attainable housing to the area. There's strong demand in St. Petersburg, and this project not only provides modern living options, but also creates spaces that help residents connect with the broader community.”

— Tyler Hurd, Managing Director, Wood Partners

What’s next

Wood Partners plans to break ground on the Alta Roosevelt project in May 2026, with an expected completion date in April 2028.

The takeaway

The development of Alta Roosevelt represents Wood Partners' commitment to expanding affordable housing options in high-demand markets like St. Petersburg. By leveraging local incentives and partnering with the city, the project will deliver much-needed attainable living units while also creating community-focused amenities for residents.