Demolition of former UPC headquarters clears way for two 31-story towers in downtown St. Pete
/UPC Insurance’s former corporate headquarters was recently demolished to make way for two 31-story apartment towers in downtown St. Pete | St. Pete Rising
Construction crews have completed demolition of the former UPC Insurance headquarters in downtown St. Pete, clearing the three-acre site for two 31-story apartment towers with 824 apartments and more than 30,000 square feet of retail space.
The 40,000-square-foot office building at 800 2nd Avenue South most recently served as a temporary office for the Tampa Bay Rays after Hurricane Milton damaged Tropicana Field.
UPC Insurance, which once occupied the building as its corporate headquarters, was placed into liquidation in 2023.
St. Pete-based Echelon, in partnership with Third Lake Partners, will develop the $225 million project, which will span more than 1.7 million square feet.
While shorter than the 46-story Residences at 400 Central, the two-tower development will contain more total floor area. At 343 feet, the towers will become the tallest buildings west of 5th Street and rank among downtown St. Pete’s 10 tallest structures.
Two 31-story apartment towers are planned for the three-acre site at 800 2nd Avenue South in downtown St. Pete | Google Maps
In 2021, the site was part of a larger proposal that would have included a 75,000-square-foot Moffitt Cancer Center, a 30-story apartment tower, a 14-story hotel, and a future development pad for UPC Insurance’s expansion.
Mayor Ken Welch rejected that proposal in 2022, citing a lack of affordable housing.
Third Lake Partners acquired the eastern portion of the property from UPC Insurance in November 2022 for $10.5 million and purchased the western portion from the City of St. Petersburg in January 2025 for $10 million.
City Council, acting as the Community Redevelopment Agency, unanimously approved the current project in May 2025.
Designed by ARC3 Architecture, the project’s amenity deck will sit between the towers and include two pools, cabanas, fitness centers, social lounges, and outdoor sports and gaming courts.
A seven-story parking podium will provide 1,550 parking spaces and 828 bicycle spaces.
The L-shaped towers will rise from the eighth through the 31st floors. Apartments will range from studios to three-bedroom units.
More than 400 apartments will measure under 750 square feet, while penthouses will occupy the uppermost levels. Each unit will include a private balcony.
The first tower is expected to be completed in spring 2029, with the second expected to follow in 2031.
Echelon and Third Lake Partners are also working together on the 33-story 3rd & 3rd apartment tower at 235 3rd Street South in downtown St. Pete.
Echelon is also leading the 20.5-acre Echelon City Center project in north St. Pete’s Carillon Office Park, while the two groups recently acquired Tampa’s WestShore Plaza for redevelopment.
Site plan for 800 2nd Avenue South, a development planned to bring 824 apartments and more than 30,000 square feet of retail space to downtown St. Pete | Echelon
