415-unit apartment development approved for 4th Street North in St. Pete
/A Naples-based developer is hoping to bring more apartments to 4th Street North in St. Petersburg. Plans for a previously approved multifamily development along 54th Avenue North between 1st Street and 4th Street were recently modified to allow more apartments on the site.
The development will be located at 5475 3rd Lane North which is bordered by 54th Avenue North, 1st Street, and 4th Street.
In June 2020, Stock Development acquired a 19.79 acre parcel at 5475 3rd Lane North for $10.8 million from St Pete 454 LLC, an entity controlled by developer Grady Pridgen. The purchase was another milestone in a multi-year effort to redevelop the former Venetian Motor Home Court site which was formerly home to 150 mobile home units.
In early 2019, Pridgen successfully petitioned the city to rezone the land from Neighborhood Suburban Mobile Home (NMH) to Neighborhood Suburban Multifamily (NSM). The approval has paved the way for the construction of a higher density multifamily development whereas previous zoning would’ve only allowed for mobile home uses.
A few months after the rezoning, Pridgen received approval for a 297-unit residential development on the site. The proposal consisted of two garden-style apartment buildings, seven-carriage houses, 22 courtyard styled houses, and 23 townhomes.
Now, a year later, Stock Development is seeking to use the city’s workforce housing density bonus to increase the number of units well beyond what was originally approved. The location’s NSM zoning allows for 297 dwelling units, or 15 units per acre. By using the workforce housing density bonus, the developer is able to construct an additional six units per acre for a total of 415 units or 21 units per acre. All 118 additional units will be income-restricted workforce housing. St. Pete’s Development Review Commission recently unanimously approved of the modification, paving the way for “Arya.”
Arya will include two 5-story apartment buildings, four 4-story apartment buildings, and five 2-story carriage home buildings.
“Stock Luxury Apartment Living, the multifamily division of Stock Development, is excited to announce our Arya project. In addition to the project’s outstanding location, the project is slated for a 15,000 square foot clubhouse, resort style pool, dog parks, and all of the other outstanding amenities that our customers have come to expect and enjoy,” says Keith Gelder, President of Stock Development.
Arya will include two 5-story apartment buildings, four 4-story apartment buildings, and five 2-story carriage home buildings. Private garages will be provided on the ground floor of the carriage homes and 4-story apartment buildings while the 5-story buildings will have structured parking on the ground floor. The project includes 790 parking spaces which far exceeds the 531 spaces required by code. Arya will be accessible from 4th Street North and 1st Street North although the main entrance will be located along 54th Avenue North.
The architecture of the buildings will be modern in design and the exteriors will be finished with stucco, Hardie board siding, and Hardie panels. Dallas-based Humphreys & Partners Architects designed the buildings.
Axio at Carillon, a 298-unit development in the Gateway area, is just one of many new multifamily developments under construction in St. Pete.
The location of the project is situated between downtown St. Pete and Pinellas’ Gateway area, both of which are experiencing a boom of new apartment units. However the 4th Street North corridor between downtown and Gateway has largely been untouched due to a scarcity of sites available for redevelopment.
As a result, Arya represents one of the largest new apartment developments along 4th Street North in decades.
“The project will be a tremendous enhancement to the neighborhood and provide much needed housing for local young professionals, families, and empty nesters,” Gelder explains. "We look forward to being a good partner with the City of St. Petersburg on this great new Class A luxury multifamily property.”
Construction on Arya is expected to begin in the third quarter of 2021 and will wrap up in the fourth quarter of 2022. Additional elevations for Arya are shown below:
