A new multifamily building has been proposed for the EDGE District in downtown St. Pete.

In October 2020, Belpointe, which invests in opportunity zones, closed on 1.6 acres at 1000 1st Avenue North for $12 million. The site is currently home to two small vacant office buildings, two surface parking lots and the former Shirley Ann Hotel, which has been vacant for three years.

Belpointe has announced plans for a development tentatively being referred to as 1000 1st Avenue North featuring two, 11-story apartment towers with a combined 256 rental units. The residential buildings will sit atop a four-story, pedestrian base that features 23,000 square feet of ground floor retail and 4,400 square feet of space for a leasing office and two resident lobbies.