Massive redevelopment brewing on Salt Creek as plans emerge for waterfront district south of downtown St. Pete
/A once-sleepy industrial stretch along Salt Creek in south St. Pete is on the cusp of major transformation as Clearwater-based real estate company Prometheus Partners has quietly assembled more than 10.5 acres of contiguous property just south of downtown.
Over the past few years, the group has spent over $43.7 million acquiring a portfolio of waterfront parcels in the Old Southeast neighborhood.
Now, newly filed plans suggest a redevelopment may be in motion, one that could dramatically reshape this underutilized waterfront into a lively mixed-use neighborhood.
Prometheus began acquiring land in the area in March 2024, beginning with the purchase of Progressive Marine Service Inc. at 1351 Bay Street SE for $4.8 million.
That was followed by a $10 million deal in April for 1421 Bay Street SE, the former Sailor’s Wharf yacht yard.
In July 2024, it picked up the St. Petersburg Marine Center at 101 16th Avenue South for $12.5 million.
Then in November 2024, the company added the Salt Creek Marina at 105 15th Avenue SE to its portfolio for $16.425 million.
In total, the company now controls more than 10.5 acres across several parcels on the south side of Salt Creek.
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