March 19, 2025

304-unit apartment complex in Largo to convert into affordable housing

March 19, 2025/ Veronica Brezina

The Oasis at Bayside apartment complex in Largo will undergo an extensive renovation to convert the units to affordable housing and update the aging amenities.

Washington, DC-based multifamily investor Gravel Road Partners and Bridge Investment Group, an investment company headquartered in Salt Lake City, Utah, purchased the 304-unit property at 305 Glades Circle on March 12th for $42.25 million.

Berkadia Senior Managing Director Jason Stanton represented the seller, Latitude Management Real Estate Investors of Beverly Hills, California, in the transaction.

The new owners are partnering with Pinellas County to renovate the 1974-built property and dedicate 258 units for tenants earning 50% to 80% of the Area Median Income (AMI). Currently the property has no affordability requirements.

March 18, 2025

Multi-million-dollar renovation completed for 12-story City Center office tower in downtown St. Pete

March 18, 2025/ Veronica Brezina

The 12-story City Center office tower in downtown St. Petersburg has a fresh, modern look following a multi-million-dollar renovation.

The 242,115-square-foot Class A office building at 100 2nd Avenue South now features a contemporary atrium lobby, upgraded amenities, and state-of-the-art facilities.

The building, owned by Feldman Equities and its joint venture partners City Office REIT Inc. and Tower Realty Partners, has officially completed its renovation. This week, the owners unveiled a first look at the upgraded amenities and modernized features.

March 17, 2025

Prepared meal company Ideal Nutrition expanding to downtown St. Pete

March 17, 2025/ Veronica Brezina

Ideal Nutrition, a South Florida-based provider of fresh, pre-prepared meals, is set to open a new retail location in downtown St. Pete.

The 1,770-square-foot store is currently under construction and expected to open by the end of the year at 360 2nd Avenue South, on the ground floor of the 23-story, 220-unit Evo apartment building.

The expansion marks the company's entry into the Tampa Bay market, offering a selection of ready-to-eat meals designed to accommodate various dietary preferences.

The St. Pete location will offer over 40 meals, ranging from traditional plates to paleo, keto, vegetarian, vegan, and others priced at $8.49.

March 14, 2025

St. Pete investor offers $260 million to buy 86-acre Tropicana Field site

March 14, 2025/ Veronica Brezina

Prominent Tampa Bay investor Thompson Whitney Blake is offering the City of St. Petersburg $260 million in an all-cash deal to buy the Gas Plant District following the Tampa Bay Rays' abrupt announcement of abandoning the stadium agreement.

"We, along with all of the other residents in town, have listened to a decade of dialogues, debates, pundits, and prognosticators, lawyers, and talking heads... In our opinion, this project needs someone to do what my mom has always said, 'put your money where your mouth is.' So, here we go," Blake, CEO of private equity firm Blake Investment Partners, wrote in a letter to Mayor Ken Welch and the St. Petersburg City Council.

The offer letter was sent on Thursday, March 13, shortly after the Tampa Bay Rays announced on social media that they were withdrawing from the $1.37 billion deal to build a new stadium in downtown St. Petersburg. The team cited unforeseen challenges from back-to-back hurricanes and prolonged negotiations as reasons for their decision.

March 14, 2025

Tierra Verde Marina faces demolition for private boat club and expanded boat storage

March 14, 2025/ Veronica Brezina

A retail plaza, home to several local businesses, and a boat yard located just beyond the Pinellas Bayway Bridge at the entrance to Tierra Verde may be demolished to make way for a private boat club and expanded boat storage.

On Monday, Michael Coffey, Executive Vice President of Greenleaf Capital, presented a preliminary redevelopment plan for the Tierra Verde Marina, located at 100 Pinellas Bayway South, during a Tierra Verde Community Association meeting.

Tampa-based Greenleaf Capital, the real estate division of HCI Group, Inc., purchased the seven-acre marina property for $5,000,100 in 2011.

Coffey outlined a phased plan to demolish the existing facilities and construct a larger boat storage facility, a modern boat club with a new restaurant, bar, and pool, as well as upgraded landscaping, security, and additional amenities.