City receives six additional proposals to develop two acres in downtown St. Pete
/In early November, Atlas Real Estate Partners, which owns The Wayland, a 481-unit apartment complex at 300 10th Street South, submitted an offer to the City of St. Petersburg to purchase a 2.02-acre site located at 910 2nd Avenue South in downtown St. Pete.
The parcel is bound by 2nd Avenue South and 3rd Avenue South between Dr. MLK Jr Street and 10th Street.
On the site, Atlas proposed to build a 10-story mixed-use building that would include 310 residential units along with 20,000 square feet of ground floor retail and 15,000 square feet of co-working space. Atlas offered $5.5 million for the land.
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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.