The Richman Group Proposes 132-unit Apartment Building in St. Pete's Innovation District
The Innovation District, located on southern end of Downtown St. Pete, is composed of a dense collection of higher education, healthcare, marine science, and media institutions. District anchors include Johns Hopkins All Children’s Hospital, Bayfront Health St. Petersburg, USF St. Petersburg, SRI International, and the Poynter Institute for Media Studies. In an effort to spark further growth, local leaders have recently teamed up to officially brand and market the up-and-coming district as a regional live-work destination for innovation and collaboration.
Construction on Tampa Bay Innovation Center's Business Incubator should begin in March 2018
Recent investment in the Innovation District includes an $85 million Johns Hopkins All Children's Research and Education Building, which broke ground in late 2015. The research building will house offices and labs to advance four of All Children’s research institutes. In addition, just blocks away, USF St. Petersburg is nearing completion on its $27 million Kate Tiedemann College of Business building. Investment in the Innovation District is expected to continue with multiple projects planned for the near future, including the Tampa Bay Innovation Center’s Business Incubator, which is set to begin construction in March 2018.
While hospitals and academic institutions have satisfied the “work” vision for the district, the “live” aspect has not kept up. However, that could soon change thanks to developments like The Salvador and a newly proposed apartment complex on the western edge of the Innovation District.
Just south of the Staybridge Suites, The Richman Group of Florida is proposing a five-story, 132-unit apartment building on Dr. MLK Jr. Street between 6th Avenue South and 5th Terrace South. A site plan review submitted to the city back in May shows a 74-foot building with ground floor parking above four floors of high-end, market-rate apartments. Located just two blocks away from Johns Hopkins All Children’s Hospital and Bayfront Health, the apartments will cater to professionals working within the district.
The Richman Group of Florida is proposing a 132-unit apartment building on Dr. MLK Jr. St.
The project will contain a leasing office, resident lounge, and a gym on the ground floor in a space fronting Dr. MLK Jr. Street. Once complete, this project will bring much needed residential units to the Innovation District, while expanding the urban core of Downtown St. Pete.
For more information on St. Pete's Innovation District, visit their website.
Additional renders of The Richman Group's proposed apartment building: