Prime development site near Mirror Lake under contract, set to close by year end

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Prime development site near Mirror Lake under contract, set to close by year end

A New York-based real estate firm is under contract to purchase the prime redevelopment site at 450 3rd Avenue North on the east side of Mirror Lake in downtown St Pete.

Located at the corner of 5th Street North and 3rd Avenue North across from the historic Mirror Lake Community Library, the 0.94-acre property was previously approved to be developed into 23-story mixed-use tower containing 285 apartments and 10,000 square feet of retail space.

The site was formerly home to The Cara Apartments, a cluster of six buildings containing around 100 apartments, before the property was demolished earlier this year.

The current landowners, a group consisting of bitcoin mining company Hyperscale Data (formerly BitNile Holdings), former Illinois Congressman Aaron Schock, and Atlanta-based real estate investor Joshua Haywood, purchased the site for $15.5 million in 2022.

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Done Deals: Group acquires more property on Salt Creek, Trop damage tops $55 million, Pin on Cafe moves next week

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Done Deals: Group acquires more property on Salt Creek, Trop damage tops $55 million, Pin on Cafe moves next week

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.

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42-story Art House condo tower tops out in downtown St. Pete

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42-story Art House condo tower tops out in downtown St. Pete

Soaring 450 feet, the 42-story Art House condominium tower in downtown St. Pete has now reached vertical completion.

The topping off of Art House marks a key milestone in the construction of the new 244-unit luxury condo tower at 235 1st Avenue South.

South Florida-based developer Kolter Urban, which has developed two other condo projects in downtown St. Pete, the 41-story ONE St. Petersburg and the recently completed 35-story Saltaire, will hold a private celebration on Thursday evening commemorating the construction milestone.

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Downtown St. Pete’s Mirror Lake neighborhood is one step closer to becoming a historic district

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Downtown St. Pete’s Mirror Lake neighborhood is one step closer to becoming a historic district

Nearly 21 acres around downtown St. Pete's Mirror Lake may soon become a local historic district, hoping to preserve its pedestrian-friendly, low-rise character amid a wave of new development.

On Tuesday evening, the City’s Community Planning and Preservation Commission (CPPC) unanimously approved a citizen-initiated application to designate certain areas of Mirror Lake as a local historic district.

The proposed local landmark designation, which has been spearheaded by local preservation advocacy group Preserve the Burg, must be approved by St. Pete City Council before taking effect.

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Construction to commence on huge brewery and marketplace in Pinellas Park

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Construction to commence on huge brewery and marketplace in Pinellas Park

Plans are progressing for a 40,000-square-foot brewery and marketplace that will anchor a new mixed-use destination in Pinellas Park.

Matthew Dahm, founder and CEO of Mastry's Brewery, expects to start site work by the end of the year on a new 5,000-square-foot brewery and 36,000-square-foot indoor food hall and market at 5805 Park Boulevard.

Construction permits will be submitted soon for the project, which has been named Park Junction.

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