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.
Have real estate news to share? Send us an email at hello@stpeterising.com
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 MoreCall it a pup crawl! Pet parents and patrons will soon be able to grab a craft beer and watch their dogs run wild inside an expansive new off-leash dog park and sports bar coming soon to Largo.
Barks and Brews Taphouse, a 7,000-square-foot dog bar, will open later this summer at 14219 Walsingham Road in Largo's Walsingham Village retail center.
"When my friend [Chris Bailey] got a dog, we went to a couple of dog bars in downtown St. Pete and thought it was an awesome concept to bring to the suburbs," co-owner Patrick Kelly said in a conversation with St. Pete Rising.
Read MoreThe 103-year-old historic Cordova Inn hotel in downtown St. Petersburg has hit a significant construction milestone for an expansion that will more than triple the number of guest rooms.
The owners of the historic boutique hotel, New Hotel Collection and TDZ Capital Partners, announced via LinkedIn that vertical completion is nearly complete for the five-story building rising at 253 2nd Avenue North.
The new building, which broke ground in April 2023 next to the existing hotel, will increase the number of available rooms from 32 to 97 with VIP luxury suites on the top floor offering panoramic views of downtown.
Read MoreA major renovation has begun at downtown St. Petersburg’s City Center office building at 100 2nd Avenue South. The 242,115-square-foot Class A office building is owned by a joint venture of City Office REIT, Inc., Feldman Equities and Tower Realty Partners.
The City Center renovation will feature an updated atrium lobby with lounge seating, renovated elevator lobbies, and upgraded lobby bathrooms. In addition to these lobby enhancements, both exterior entrances will be modernized with new entryways and improved landscaping.
“The downtown St. Petersburg office market is one of the nation’s strongest. Tenants and employees are gravitating to buildings with modern amenities and vibrant communities. Together with unparalleled views of Tampa Bay, City Center will be downtown’s premier place of work,” states James Farrar, Chief Executive Officer at City Office REIT.
Read MoreOne of the largest properties in St. Pete’s up-and-coming Warehouse Arts District has been sold.
Factory Investors of St Pete LLC, owned by St. Pete-based real estate investors Tom and Cory Gaffney, has acquired a 6.5-acre property located southwest of downtown St. Pete at 2606 Fairfield Avenue South.
The property is home to The Factory, a creative arts destination comprised of 90,000 square feet of warehouse space across nine buildings along the Pinellas Trail.
Read MoreDone 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.
Have real estate news to share? Send us an email at hello@stpeterising.com.
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