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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Wild Fork Foods, a boutique meat and seafood market, opens on 4th Street

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Wild Fork Foods, a boutique meat and seafood market, opens on 4th Street

Ostrich, anyone? Wild Fork Meat and Seafood Market has opened its first St. Petersburg store, and it is unlike your traditional neighborhood grocery store - selling everything from alligator tenderloins to venison rib racks.   

Wild Fork, offering the widest selection of high-quality meat and seafood, has debuted at 2801 4th Street North on the site of the former Alcove Assisted Living directly across the street from The Fresh Market and Trader Joe's.

Local commercial real estate developer Belleair Development Group purchased the property in 2021 for $3.25 million. The structures were demolished, and a new 4,950-square-foot building was constructed for Wild Fork.

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Done Deals: Bar Mezzo debuts in EDGE District, Coffee shop opens in north St. Pete, Steakhouse coming to St. Pete Beach

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Done Deals: Bar Mezzo debuts in EDGE District, Coffee shop opens in north St. Pete, Steakhouse coming to St. Pete Beach

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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Rita’s Italian Ice and Einstein Bros Bagels to open in west St. Pete

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Rita’s Italian Ice and Einstein Bros Bagels to open in west St. Pete

Einstein Bros. Bagels and Rita's Italian Ice are opening new storefronts in retail centers along St. Petersburg's 66th Street corridor.

Einstein Bros. Bagels will open at 2216 66th Street North in an outparcel retail strip outside of the Tyrone Square Mall and Rita's Italian Ice will open across the street at 2141 66th Street North inside the Crossroads Shopping Center.

Einstein Bros. Bagels, a Colorado-based chain serving breakfast sandwiches and fresh bagels, will replace the shuttered Sub Zero Nitrogen Ice Cream shop, which closed its brick-and-mortar storefront in October but is still offers catering.

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Prominent developer purchases over four acres in St. Pete Beach, plans mixed-use condo project

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Prominent developer purchases over four acres in St. Pete Beach, plans mixed-use condo project

Delray Beach-based real estate developer Kolter Urban has acquired 4.5 acres of waterfront property on St. Pete Beach, with the intention of developing a mixed-use residential project on the site.

Kolter has developed numerous condo towers in downtown St. Pete, including ONE St. Petersburg, which opened in 2019; Saltaire, which opened in 2023; and the upcoming Art House, which is on track to debut in 2025.

On Monday, Kolter paid $9.85 million for a vacant property at the east end of Corey Avenue that was previously slated to be developed into Corey Landing, a 243-unit apartment community with restaurants, shops, a park, and boat docks.

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49-story Waldorf Astoria Residences approved by St. Pete development commission

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49-story Waldorf Astoria Residences approved by St. Pete development commission

Shovels may hit the ground in the future for the 49-story Waldorf Astoria Residences in downtown St. Pete, which would become the city's first hotel-branded luxury condominium.

During a Tuesday Development Review Commission meeting, commissioners unanimously approved the site plan, floor area ratio bonuses, and a building height bonus for the massive tower that would rise at 150 2nd Avenue South.

With the new approval of the DRC and recent passing from the City Council acting as the Community Redevelopment Agency, the team will need additional approval from the Federal Aviation Administration (FAA).

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