22-story residential building approved for 3rd Avenue South in downtown St. Pete
/The City of St. Petersburg’s Community Redevelopment Agency has approved a 22-story residential building proposed for 511 3rd Avenue South, currently home to an office building, a surface parking lot, and undeveloped land.
The property is owned by a subsidiary of EquiAlt LLC, a financial management company headquartered in Tampa.
In 2020, the company was accused by the U.S. Securities and Exchange Commission of perpetuating a $170 million Ponzi scheme and misappropriating investors’ money. That case, Securities and Exchange Commission v. EquiAlt LLC. et al., is a civil action that resulted in EquiAlt going through a receivership process to return investors’ funds.
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More than six years after the Wagon Wheel Flea Market closed its doors, plans are taking shape to redevelop the sprawling property that was once home to one of Pinellas County's most popular weekend shopping destinations.
Pinellas Park-based Belleair Development Group is under contract to purchase approximately 156 acres at 7801 Park Boulevard North, where the Wagon Wheel and Mustang flea markets operated for more than five decades before closing in 2020.
Christian Yepes, owner of Belleair Development Group alongside his father, Carlos Yepes, confirmed the company is exploring options for a mixed-use development that could bring residential and commercial uses to the largely vacant property.
“We are extremely grateful for the opportunity to develop such a landmark in Pinellas County. We are currently in the midst of due diligence and are exploring mixed-use development options at the site,” Yepes said in a conversation with St. Pete Rising.
The property is currently owned by the family of Hardy Huntley, who founded the Wagon Wheel Flea Market with his wife, Janet, in the 1960s.