381-unit Live Local Act development with workforce housing proposed in north St. Pete
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A major new affordable housing development could soon rise in north St. Petersburg. Atlanta-based real estate developer Wood Partners is proposing a 381-unit multifamily apartment complex at 11101 Roosevelt Boulevard North.
The five-story building, named Alta Roosevelt, is being reviewed under Florida’s Live Local Act, a 2023 state law designed to incentivize the construction of affordable and workforce housing.
The law allows residential developments to override local zoning restrictions such as height, density, and land use if at least 40 percent of units are set aside for households earning up to 120 percent of the Area Median Income (AMI) and those units remain affordable for at least 30 years.
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A 16-story apartment tower has been proposed across from the University of South Florida St. Petersburg campus, replacing a larger project approved for the same property last year.
The proposed development would rise at 446 4th Street South, at the northeast corner of 5th Avenue South and 4th Street South.
The 0.7-acre property is currently home to a 105-year-old commercial building previously occupied by Fresenius Kidney Care American Dialysis Center and an adjacent surface parking lot.
The project, which would be developed by Charleston, South Carolina-based The Beach Company, will contain 165 apartments, approximately 3,200 square feet of ground-floor retail space, a 176-space parking garage, and 178 bicycle spaces.
It’s a significant change from the development St. Petersburg City Council approved for the site in February 2025.