330-unit apartment development approved for 6th Street in south St. Pete
St. Pete’s Development Review Commission unanimously approved a 330-unit mixed-income residential development planned for 6th Street South, just east of Lake Maggiore.
The project was first announced in October 2021 and is being developed by Stoneweg US, a St. Pete-based investment firm specializing in multifamily acquisitions and developments. The group purchased the parcel, which was previously a mobile home park, in April 2021 for $6.4 million.
THE SITE WAS PREVIOUSLY HOME TO THE BAY AND LAKEVIEW MOBILE HOME PARKS WHICH WERE GRADUALLY CLOSED AND CLEARED BETWEEN 2006 AND 2013 AND REMAIN VACANT TO THIS DAY.
In rezoning the land from Corridor Commercial Traditional-1 (CCT-1) and Neighborhood Suburban Multifamily-1 (NSM-1) to Neighborhood Suburban Multifamily-2 (NSM-2), Stoneweg is now able to build 30 units per acre or 330 units total.
At least 100 units will be income-restricted workforce housing catering to households making between 80% to 120% of Area Median Income (AMI). Stoneweg US has applied to the Pinellas County’s Penny for Pinellas Affordable Housing Program for funding assistance to construct the workforce units.
“We are excited to bring new market-rate and workforce housing options to south St. Petersburg,” says Sharmane Bailey, Associate Director of Corporate Communications at Stoneweg US previously told St. Pete Rising. “Our communities are designed to appeal to a wide cross-section of people and we always keep sustainability top of mind, with features like community gardens.”
THE PROPERTY IS LOCATED AT 3049 6TH STREET SOUTH, JUST EAST OF LAKE MAGGIORE.
The community will consist of seven garden-style apartment buildings, two townhome-style buildings, a pool, outdoor amenity area, a club house, leasing office, dog park and community garden area. Each residential building will vary between two and four stories.
Along 6th Street South will be two two-story townhome-style buildings with seven units each. At the center of the project will be a larger four-story building with 136 units, which will be flanked by six three-story buildings.
The community will also include 358 parking spaces – above the 293 required.
Bold Line Design is the architect, Craig Taraszki of Johnson Pope is the land use attorney for the project, and B2 Communications is working with Stoneweg US on public relations initiatives.
Stoneweg US hopes to break ground on its Lake Maggiore apartment project later this year.