Massive 31-story, twin-tower development approved for downtown St. Pete
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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.
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A 31-acre office property along McCann Lake has received preliminary approval for what would become the largest apartment community in Pinellas Park, with 552 units, including at least 221 affordable apartments.
City staff approved the preliminary site plan on September 30th for 10222 MCI Drive in the Gateway Centre Business Park.
The two-phase development would replace an office campus with nine four-story apartment buildings, two clubhouses, pickleball courts, and 847 parking spaces.
The apartment proposal relies on Florida’s Live Local Act, which allows residential development on the industrially zoned property, provided that at least 40% of the apartments, or at least 221 units, are reserved for households earning at or below 120% of the area median income for a minimum of 30 years.
The remaining 331 apartments would be leased at market rates.
Plans call for apartments ranging from studios to three-bedroom units. All nine residential buildings would rise four stories, with a maximum height of 50 feet.