12-story, 150-unit affordable housing tower proposed for former Playhouse Theater site in Grand Central District
/The former Playhouse Theater and Morph Nightclub properties in St. Pete’s Grand Central District could soon be demolished for a new affordable housing tower near downtown St. Pete.
Tampa-based affordable housing developer Blue Sky Communities has the 0.61-acre site at 1850 Central Avenue and 1833 1st Avenue South under contract for $6.25 million.
The deal is expected to close in March 2027.
Plans call for a 12-story, 150-unit affordable apartment tower, called JR Tower, with 3,000 square feet of commercial space.
“Getting affordable and workforce housing in downtown St. Pete is becoming increasingly difficult so this is an opportunity that doesn’t present itself often,” Blue Sky Communities Executive Vice President and CFO Scott Macdonald said in a conversation with St. Pete Rising.
“I hope it will alleviate a lot of the challenges this area is seeing for staffing businesses. Additionally, we are excited for the residents to be able to utilize the Bus Rapid Transit (BRT) as JR Tower will be a quarter of a mile from a BRT station,” Macdonald added.
Blue Sky Communities plans to utilize Chapter 17.5 of St. Pete’s municipal code, which allows affordable housing developments on certain commercially and industrially zoned properties in exchange for long-term affordability requirements.
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