ARK Invest and Ellison Development to launch funds anchored by Historic Gas Plant District redevelopment

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ARK Invest and Ellison Development to launch funds anchored by Historic Gas Plant District redevelopment

ARK Invest and Ellison Development have announced plans to launch two private real estate funds that would invest in innovation-forward projects across the Tampa Bay region, including the proposed redevelopment of the Historic Gas Plant District in downtown St. Pete.

According to a joint announcement, the ARK Ellison Urban Innovation Fund would target accredited investors while the ARK Ellison Community Growth Fund would allow non-accredited investors to participate.

The ARK Ellison Urban Innovation Fund will be partially structured as a Qualified Opportunity Zone Fund, making it eligible to invest in projects located within federally designated Opportunity Zones such as the Historic Gas Plant District.

The fund is described as having a long-term investment horizon with periodic liquidity and a diversified pipeline of approximately $9 billion in mixed-use, innovation-focused projects throughout Tampa Bay.

The ARK Ellison Community Growth Fund, meanwhile, would focus exclusively on the 95-acre redevelopment of the Historic Gas Plant District. The companies say participation would be available through digital platforms that utilize blockchain technology to provide transparency and record-keeping. Minimum investments are expected to start at $500.

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Several developments move forward along The Deuces corridor in south St. Pete

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Several developments move forward along The Deuces corridor in south St. Pete

After years of promises to revive 22nd Street South, the City of St. Pete is finally making progress on projects expected to bring new life back to The Deuces.

From the 1940s through the 1960s, 22nd Street South, from 2nd Avenue to 18th Avenue, was the heart of St. Pete’s Black community, filled with thriving businesses, music clubs, and restaurants.

But after I-275 cut through the area in the mid 1970s, the busy corridor slowly fell into decline.

Now, with a growing pipeline of new developments on the horizon, the Deuces is beginning to show signs of revival.

At a community meeting this week at the Enoch Davis Center, city officials gave updates on several ongoing projects.

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82-unit affordable apartment community Wimbish Court proposed for south St. Pete

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82-unit affordable apartment community Wimbish Court proposed for south St. Pete

A vacant 1.16-acre site near Bartlett Park in south St. Pete could soon become an 82-unit affordable housing community.

The $33 million development, called Wimbish Court, has been proposed by Orlando-based Archway Partners for 2025 Dr. M.L.K. Jr. Street South.

Archway is under contract to purchase the property for $1.875 million, but the project will only move forward if it secures 9% Low-Income Housing Tax Credits (LIHTC), according to Paul Nudelman, Development Partner at Archway Partners.

The Low-Income Housing Tax Credit program is a federal tax incentive created by Congress in 1986 to encourage private developers to build affordable housing.

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Historically St. Pete: The fascinating story of the Williams Mansion, one of the city’s oldest surviving landmarks

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Historically St. Pete: The fascinating story of the Williams Mansion, one of the city’s oldest surviving landmarks

At St. Pete Rising, we are constantly providing comprehensive coverage on everything new and coming soon to the Sunshine City, but we think it’s also important to take a look back at our city's rich history.

Historically St. Pete, a monthly column on St. Pete Rising written by Executive Director of the St. Petersburg Museum of History Rui Farias, covers everything from the legend of underground mobster tunnels to the buildings and people that created the Sunshine City.

Follow us each month as we explore how these projects shaped St. Pete into the city we know and love today.

This month we look back at the Williams House, built in 1891 for city co-founder General John C. Williams, making it one of St. Petersburg’s oldest surviving landmarks.

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133-unit luxury condo project Corey Landing approved for St. Pete Beach

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133-unit luxury condo project Corey Landing approved for St. Pete Beach

The long-anticipated redevelopment of the east end of Corey Avenue in St. Pete Beach is officially moving forward.

On Tuesday evening, City Commission unanimously approved revised plans for Corey Landing, a mixed-use development led by Kolter Urban which features two eight story buildings with 133 luxury condominiums, 11,000 square feet of retail and restaurant space within a freestanding building, and a new public park.

In 2022, the city approved a separate proposal from Ram Realty Advisors, also called Corey Landing.

Ram, which exited the project in 2023, had planned a 243-unit apartment complex with more than 17,000 square feet of retail, a restaurant, office space, and a 39-slip marina.

Kolter Urban acquired the property the following year for $9.85 million and expanded the site to include two adjacent parcels not part of Ram’s plan: the former Charlie’s Transmissions property at 75 Corey Avenue and the shuttered Blue Parrott restaurant at 85 Corey Circle. Both structures have since been demolished.

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New 52,000-square-foot expansion proposed for St. Pete’s Maritime and Defense Technology Hub

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New 52,000-square-foot expansion proposed for St. Pete’s Maritime and Defense Technology Hub

More marine-based startups and private defense firms may soon find a new home along St. Pete’s waterfront.

City and business leaders are spearheading an effort to expand the Maritime and Defense Technology Hub, known locally as The Hub, which opened in 2022 at 450 8th Avenue SE in a city-owned building at the Port of St. Petersburg, just south of Albert Whitted Airport.

The Hub has quickly become a cornerstone for marine science, defense, and technology innovation, now fully occupied by companies such as Saildrone, which deploys autonomous ocean vehicles from St. Pete to map and monitor Florida’s coastal waters, and Pole Star Defense, which uses maritime intelligence technology to track and prevent threats at sea.

Plans for a second facility, dubbed Hub 2.0, call for developing the surface parking lot directly west of the current Hub into a 52,000-square-foot research and collaboration center.

The expansion would provide a home for additional startups, government partners, and academic institutions focused on marine technology, coastal resiliency, and defense innovation.

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Aldi supermarket sets opening date for new store on Dr. MLK Jr. Street North in St. Petersburg

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Aldi supermarket sets opening date for new store on Dr. MLK Jr. Street North in St. Petersburg

After months of anticipation, Aldi has officially announced the opening date for the new St. Petersburg store. The German-based discount grocer will welcome customers to its fourth St. Pete location on Thursday, November 6 at 8:45 a.m.

St. Pete Rising first reported that the Winn-Dixie at 3327 Dr. MLK Jr. Street North would be converted into an Aldi following the company’s acquisition of Southeastern Grocers, the parent company of Winn-Dixie and Harveys Supermarket.

The store will be open daily from 9 a.m. to 8 p.m. and will feature fresh, organic produce delivered daily, an extensive cheese and wine selection, and food options for a variety of lifestyles, including gluten-free and plant-based.

Shoppers will also have access to curbside pickup and grocery delivery.

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Bojangles opens next week in Pinellas Park

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Bojangles opens next week in Pinellas Park

Bojangles, the beloved Southern chain known for its fried chicken, biscuits, and sweet tea, will officially open its new Pinellas Park restaurant next Tuesday, November 4, at 5:30 a.m.

The opening marks the brand’s return to the area, where it last operated four decades ago.

Located at 7930 U.S. Highway 19 North, the new 2,414-square-foot Bojangles replaces a former Burger King on an outparcel of a retail plaza anchored by Ashley Furniture, across from Walmart Supercenter.

The site features a single-lane drive-thru.

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$33 million Tierra Verde Marina redevelopment revised again, could become Florida’s second-largest boat storage facility

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$33 million Tierra Verde Marina redevelopment revised again, could become Florida’s second-largest boat storage facility

A Tampa-based developer has refined its plans to transform the aging seven-acre Tierra Verde Marina property, adding new public amenities and retail while addressing concerns from nearby residents.

Since the proposal was first introduced in March, Greenleaf Capital has made several key revisions to its $33 million, two-phase redevelopment at 100 Pinellas Bayway South.

The project, which was originally slated to go before St. Pete’s Development Review Commission (DRC) in October, has been rescheduled to December to accommodate additional design and a traffic analysis.

One of the community’s main concerns was losing the existing retail space at the marina. In response, the developer has added 2,400 square feet of new retail space to the latest plan, which could be divided into up to three storefronts and will be included in Phase 1 of construction.

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Publix at Dolphin Village in St. Pete Beach to be rebuilt into larger, elevated new prototype store

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Publix at Dolphin Village in St. Pete Beach to be rebuilt into larger, elevated new prototype store

Five months after a devastating fire left Dolphin Village’s Publix and neighboring shops in ruins, plans are now moving forward to bring a larger, more modern supermarket back to the barrier island.

New York-based Brixmor Property Group, owner of the fire-damaged shopping center, announced Monday that it will submit development plans to the city for a new 51,000-square-foot Publix Super Market — a major expansion from the previous 33,000-square-foot store.

The proposed design includes covered parking beneath an elevated store, a feature aimed at improving shopper convenience and storm resilience at the 136,000-square-foot grocery-anchored center.

Project approvals and construction are expected to take several years, and an opening date has not yet been determined.

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