The City of St. Petersburg has officially approved plans for one of downtown’s largest-ever residential projects, a transformative $225 million development featuring two 31-story towers at the former headquarters of UPC Insurance.

First reported by St. Pete Rising earlier this year, the project at 800 2nd Avenue South is being led by local developer Echelon, LLC and Tampa-based investment advisory firm Third Lake Partners.

Now greenlit by the City, the development will move forward with site plan approvals, setting the stage for construction to begin as early as the first quarter of 2026.