A prime parcel in downtown St. Petersburg could soon be redeveloped, according to a notice sent to tenants of the City Center office building at 100 2nd Avenue South.

The 12-story office building is owned through a joint venture by City Office REIT, Feldman Equities, and Tower Realty Partners. The owners recently announced plans for a multi-million dollar renovation to City Center’s atrium lobby, entrances, and landscaping.

The 242,115-square-foot Class A office building sits on nearly a full city block fronting 2nd Avenue South between 1st Street and 2nd Street. The parcel is located in Downtown Center-1 (DC-1) zoning which allows for intense mixed-use development and a maximum floor area ratio (FAR) of 7.0 with no height restrictions.