Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
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Read MoreLocal real estate firm NJR Investment and Development Company is moving forward with plans for a five-story condominium building at 357 3rd Street South after a unanimous approval by St. Petersburg’s City Council.
Named Aerie on 3rd, the 36-unit condo building will rise on a 0.34-acre site across from Camden Pier District. NJR previously proposed a 15-unit townhome community dubbed Claridge Lane Townhomes on the site.
“We’re very exited to be able to give even more people the opportunity to live the downtown experience in St. Petersburg” said Neil Rauenhorst, CEO of NJR Investment and Development Company. “We’ve worked hard to provide the right mixture of design and amenities, in just the right balance, to offer prices that are lower than expected.”
Read MoreFollowing years of negotiating and discussing the best revitalization plan for the beleaguered Tangerine Plaza in south St. Petersburg, the city is moving forward on an agreement.
In a 5-3 vote on Thursday, St. Petersburg City Council members narrowly approved a 75-year lease and development agreement with the Sugar Hill Group to bring at least 115 affordable rental units and 10,000 square feet of retail, including a new grocer, to the plaza at 1794 22nd Street South.
Council members Ed Montanari, Gina Driscoll, and Lisset Hanewicz cast the opposing votes, primarily citing language and procedural issues, concerns about rent abatement for the first two years, and the uncertainty of securing a long-term grocer.
Read MoreSouth St. Pete may soon be home to one of the area’s most popular grocery stores.
Earlier today, the St. Petersburg City Council approved a lease and development agreement with Sugar Hill Group to redevelop Tangerine Plaza at 1794 22nd Street South into 115 affordable apartments and 10,000 square feet of commercial space, which will include a grocery store at least 3,000 square feet in size.
During the City Council hearing, Rev. Louis Murphy, Sr. of Sugar Hill Group revealed that the development team is in discussions with Sarasota-based Detwiler's Farm Market to occupy the grocery store at Tangerine Plaza. However, no lease has been signed yet.
Read MoreLocal developers and homebuilders are vying to acquire and redevelop a St. Pete College site into an affordable housing community.
St. Pete Rising has obtained the proposals developers submitted to the City of St. Petersburg proposing to bring affordable workforce townhomes to the 5.24-acre site at 7045 Burlington Avenue North in west St. Pete.
The city and selected partner will market the units to St. Pete College students, staff, and low-income residents seeking homeownership.
Read MoreSt. Pete Rising is an online urban development publication covering retail, restaurants, and real estate news in St. Petersburg, FL
