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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Construction crews have completed demolition of the former UPC Insurance headquarters in downtown St. Pete, clearing the three-acre site for two 31-story apartment towers with 824 apartments and more than 30,000 square feet of retail space.
The 40,000-square-foot office building at 800 2nd Avenue South most recently served as a temporary office for the Tampa Bay Rays after Hurricane Milton damaged Tropicana Field.
UPC Insurance, which once occupied the building as its corporate headquarters, was placed into liquidation in 2023.
St. Pete-based Echelon, in partnership with Third Lake Partners, will develop the $225 million project, which will span more than 1.7 million square feet.
While shorter than the 46-story Residences at 400 Central, the two-tower development will contain more total floor area. At 343 feet, the towers will become the tallest buildings west of 5th Street and rank among downtown St. Pete’s 10 tallest structures.