New 50-unit affordable apartment complex opens in south St. Pete
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A 50-unit affordable housing complex in south St. Pete has completed construction and is now open. Leaders from the City of St. Petersburg, Pinellas County, and the developers were on hand at a ribbon cutting ceremony to christen the new property.
The Shores Apartments is located at 2605 31st Street South and was developed by The Richman Group with funding from the City of St. Petersburg and Pinellas County.
Pinellas County contributed $750,000 in Penny for Pinellas housing funds to acquire the land for the project while the City of St. Petersburg contributed $567,000 in funding from the South St. Petersburg Community Redevelopment Area (CRA).
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Demolition work has begun at the former Tampa Bay Times building at 490 1st Avenue South in downtown St. Petersburg, nearly two years after a construction crane collapsed into the property during Hurricane Milton.
Crews are currently completing interior, non-structural demolition and asbestos abatement, according to City of St. Petersburg permit records.
The eight-story, 240,000-square-foot complex consists of three buildings, with the original structure built in 1924 and additions completed in 1968 and 1988.
Naples-based Stock Development purchased the former Times building in June for $18 million.
The developer plans to redevelop the site with a high-rise condominium tower that could also include ground-floor commercial space and offices.