Mayor Kriseman picks Dynasty Financial to redevelop 2-acre site near Tropicana Field
/In one of the final working days of his administration, Mayor Kriseman has announced the selection of a proposal from a group comprised of Dynasty Financial Partners, ARK Invest, and GF Investments to redevelop a city-owned lot at 910 2nd Avenue South in downtown St. Pete. The lot currently is a dirt parking lot serving Tropicana Field.
In early November, the City of St. Petersburg received an unsolicited offer from Atlas Real Estate Partners, which owns The Wayland, a 481-unit apartment complex at 300 10th Street South, to purchase and develop a mixed-use project on the 2.02-acre lot.
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A former parking lot near Historic Kenwood is now home to Burlington Post II, a 75-unit affordable apartment community for seniors.
A ribbon-cutting ceremony was held last Wednesday to celebrate the opening.
Every apartment at the five-story building at 3295 Burlington Avenue North is income restricted, and the property must remain affordable for at least 50 years.
For some of its first residents, the move followed rising rents that made their previous homes increasingly difficult to afford.
Tabari Lewis, community manager with Royal American Management, said in a conversation with St. Pete Rising that many residents learned about Burlington Post II through friends, family, and city housing services while searching for a more affordable place to live.