Coquina Key Plaza redevelopment to bring workforce housing and retail to south St. Pete
/A new mixed-use development has been proposed for the former Coquina Key Plaza in south St. Pete. If approved, the project would bring hundreds of apartments, including much-needed income-restricted units, and new retail space to the neighborhood.
In March, St. Pete-based real estate company Stoneweg purchased the beleaguered Coquina Key Plaza located on 14.5 acres at 4350 6th Street South for $8.9 million.
In a recent interview with St. Pete Rising, Stoneweg laid out their proposal for the property. Plans call for the construction of four separate buildings containing a total of 458 apartments and 20,000 square feet of retail space.
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Several prominent properties in the EDGE District have sold for $12 million.
According to a deed recorded October 6th, developer PTM Partners sold the three-story building at 1246 Central Avenue and the street-level retail spaces at the adjacent Moxy hotel to L3 Capital, a Chicago-based private equity real estate investment firm that focuses on urban retail.
The 27,261-square-foot building at 1246 Central Avenue is home to Bosphorous Turkish Cuisine and Amorino Gelato on the ground floor. Digital marketing company WebFX has signed a lease for the third floor but has not yet moved in, while the approximately 8,700-square-foot second floor remains available for office tenants.
The sale also includes the Moxy hotel’s 3,407 square feet of ground-floor retail space, occupied by Floyd’s Barbershop and Solidcore. It does not include the 163-room Moxy hotel itself, which remains part of PTM Partners’ EDGE Collective development.
James Garner and Jim Shiebler of CBRE represented PTM Partners and L3 Capital in the transaction.