11-Story Apartment Tower To Rise Near St. Pete’s EDGE District
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A well-respected developer from Michigan has unveiled plans to build an 11-story apartment tower just outside of Downtown St. Pete’s trendy EDGE District. DevMar Development is in the process of assembling 1.9 acres of land located at the corner of 16th Street and 1st Avenue North. With the exception of a small car wash, a majority of the land has been sitting vacant for over a decade.
The mixed-use building, dubbed First North Lofts, is a collaboration between Mark DeMaria, CEO of DevMar Development, Jonathan Daou, a local real estate investor, the project’s architects, and local consultants. DeMaria brings over 20 years of multi-family development expertise and Daou contributes his retail experience into this collaborative tailor-made project specifically designed for St. Pete.
The development will be perfectly flanked by two of St. Pete’s most desirable neighborhoods — the EDGE District and the Grand Central District. In either direction, residents will be steps away from hundreds of restaurants, bars, art galleries, and coffee shops.
However, if residents are so inclined, they wouldn’t really have to leave the property. First North Lofts, which DeMaria describes as “an urban resort at an affordable cost”, will provide a wealth of attractive amenities.
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The next phase of the Rainbow Village redevelopment in Largo is taking shape, with four new apartment buildings planned as part of a long-term effort expected to deliver approximately 400 affordable homes to the community.
Newstar Development, in partnership with the Pinellas County Housing Authority, recently filed construction permits for Grand Oaks, the third phase of the four-phase redevelopment at 13224 Washington Drive in Largo’s Greater Ridgecrest neighborhood.
Grand Oaks will replace 62 older public housing units with four three-story apartment buildings containing 120 affordable apartments for families earning between 30% and 80% of the area median income (AMI).
The $48.7 million development will include 33 one-bedroom apartments measuring 741 square feet, 60 two-bedroom apartments measuring 1,066 square feet, and 27 three-bedroom apartments measuring 1,341 square feet.
Residents will have access to a clubhouse and community building with a fitness center, sports courts, green space, and an attached wellness center, along with a playground and youth recreation center.