Investor scoops up Dairy Inn site for luxury townhome development
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St. Pete's iconic Dairy Inn ice cream shop, which closed its doors in November after operating for 76 years in Crescent Lake, will be razed for a new residential development.
Local real estate investor Everett Vance, owner of The Vance Group and broker at Premier Properties, plans to build six modern luxury townhomes on the corner lot at 1201 Martin Luther King Jr. Street North.
He purchased the site in December for $740,000.
"For me, this will be my first multi-family project. I typically work on single-family homes," Vance said in a conversation with St. Pete Rising.
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A chain-link fence went up last week around the site of a planned 20-story mixed-use apartment tower expected to begin construction soon in the EDGE District of downtown St. Pete.
In a conversation with St. Pete Rising, PTM Partners said it is preparing the site for demolition to make way for EDGE Collective II, which will be located at the northwest corner of 11th Street South and 1st Avenue South.
The new tower will replace the former Dr. BBQ restaurant and the buildings that previously housed Pin on Cafe, EMOTO Electric Motorbikes, and Chai Mixology.
Pin on Cafe has since relocated to 2458 Central Avenue and rebranded as Pin on Grand.
After the site has been cleared, production pile installation is expected to begin in September or early October, pending final coordination with Duke Energy on utility relocations, followed by vertical construction.