330-unit apartment development planned for 6th Street in south St. Pete
/A development proposed for 6th Street South could bring new market rate and workforce housing to south St. Petersburg. Stoneweg US, an investment firm specializing in multifamily acquisitions and developments, has initiated a rezoning request for the property at 3049 6th Street South, just east of Lake Maggiore.
Based in downtown St. Pete, Stoneweg purchased the 14.73-acre site, which was previously home to the Bay and Lakeview Mobile Home Parks, in April for $6.4 million. The mobile home parks were gradually closed and cleared between 2006 and 2013 and remain vacant to this day. At one time the community had as many as 324 mobile home units resulting in an overall density of nearly 23 dwelling units per acre.
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St. Petersburg has a rule that protects our waterfront. If the city wants to lease public waterfront land for longer than a short term, voters decide. That rule is worth keeping, and a "yes" vote on Charter Amendment #2 does not weaken it.
Here is what it changes. Under the City Charter, Port leases are capped at 10 years unless voters approve more in a citywide referendum. Charter Amendment 2 would raise that cap to 25 years, the same limit Albert Whitted Airport has had since 2004, when voters raised it from five years. Giving the Port the same terms as its neighbor is sensible.
Here is what it does not change. The ballot language says the amendment "would not change the permitted use of the Port." It does not approve residential development at the site, and it does not approve any redevelopment of the Port. It changes one number, the maximum lease length. Every lease would still go through the city administration and City Council. The amendment does not hand anyone a blank check. It lets the city negotiate from a stronger position.