Done Deals: Central Avenue multifamily site lists, Beach Theatre to reopen, ARK secures funding for educational hub
/Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
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Central Avenue mulitfamily development site lists
A RENDERING OF THE PROPOSED SIXTY90 DEVELOPMENT | DDA DEVELOPMENT
A west St. Petersburg property approved for a mixed-income housing development is back on the market.
St. Petersburg real estate group DDA Development and investment firm Backstreets Capital are selling the property at 6090 Central Avenue, which was going to be developed into a 204-unit apartment complex with 40 units reserved for affordable housing.
DDA purchased the three-acre site in December 2020 for $5.6 million from local businessman Bill Edwards. The site is an assemblage of two parcels previously developed with several buildings and surface parking lots.
According to the listing from JLL, the current owners have completed all the architectural, civil, survey, geotechnical, and environmental work for the project dubbed Sixty90.
The planned residential units would average 992 square feet. There would be 5,000 square feet of ground-floor retail space fronting Central Avenue along with amenity spaces and a leasing office.
The four-story building will wrap a parking garage with 252 spaces.
JLL did not advertise an asking price for the property.
Commercial brokerage firm CBRE previously listed the three-acre site in 2023.
Beach Theatre set to reopen under new ownership
BUILT IN 1940, THE BEACH THEATER HAS BEEN A MAINSTAY ON ST. PETE BEACH’S COREY AVENUE | google streetview
The historic Beach Theatre, which has sat dormant for nearly a decade, has a new owner who will reopen the venue.
Residents Ronald and Sissy Hockman, husband-and-wife, and their daughter, Hannah, have purchased the theatre at 315 Corey Avenue on St. Pete Beach in a $1 million deal from Scott Commercial Holdings.
"I have dreamed of owning a theatre for as long as I can remember," Hannah Hockman wrote in a Facebook post.
Hannah Hockman, PICTURED, POSES IN FRONT OF THE BEACH THEATER, WHICH HER FAMILY PLANS ON RENOVATING AND REOPENING | THE BEACH TEHATER
The venue first opened in 1940, becoming the first theatre in Pinellas County to be built exclusively for sound pictures.
“The reopening of The Beach Theatre isn’t just about watching movies — it’s about celebrating tradition, fostering community, and preserving the magic of nostalgia for generations to come. We are ecstatic to bring new life and energy to The Beach Theatre,” the new owners wrote in a new blog post on the Beach Theatre website.
“Whether you’re a movie buff looking for the nostalgia of classic films or a theatre enthusiast seeking the thrill of live performances, The Beach Theatre will be your ultimate destination for unforgettable experiences and cherished memories. We’re dedicated to fostering a sense of community and collaboration, providing a platform for local artists to showcase their talents, and inviting audiences to experience the magic of storytelling in all its forms.”
The art deco-designed movie theater has remained closed since 2012.
The owner at the time, Michael France Jr., a Hollywood screenplay writer, didn't continue the theatre's legacy due to financial issues, according to previous reports. He died in 2013.
The building was last sold in 2021 to businessman Christopher Scott for $652,000. He was renovating the 5,000-square-foot venue with plans of adding an expanded bar and a stage. However, the theatre never reopened.
An opening date for the renovated Beach Theater has not been announced.
Stay up to date on the latest plans for the theatre via The Beach Theatre's website and Facebook page.
ARK Innovation Center receives funding for educational hub
THE ARK INNOVATION CENTER OPENED EARLIER THIS YEAR On 4TH STREET SOUTH IN ST. PETE | ST. PETE RISING
A new Education Innovation Center focusing on teaching youth about next-generation technology will debut in a building owned by Pinellas County Schools thanks to a $1 million appropriation from the state. The specific building was not identified in the funding request.
The Florida Senate's 2024 budget has slated the funding for the center and programming developed through a public-private partnership with ARK Invest's Innovation Foundation, Pinellas Education Foundation, and the Pinellas County School District.
"The Education Innovation Center will directly expose students to areas of technology such as robotics, artificial intelligence, energy storage, 3D printing, autonomous vehicle, space exploration, DNA sequencing, blockchain technology and next-generation internet," Florida Sen. Nick DiCeglie wrote in the request. "These and other technologies are greatly impacting the world and the jobs Florida students will train in and seek employment."
The funding will help cover fixed capital outlay costs, with another $1 million anticipated from local sources and $2 million from non-government sources, according to Florida Politics.
The appropriation will not be finalized until the budget is signed.
John's Pass Village restaurant lists in Madeira Beach
AN IMAGE OF THE JOHN’S PASS RETAIL BUILDING | LOOPNET
A large restaurant space in Madeira Beach, which was formerly home to John’s Pass Grille, is listed for lease.
The second-generation restaurant, located at 111 Boardwalk Place West in the John's Pass Fishing Village, spans 3,627 square feet.
The co-tenants in the building include Hooters, Bubba Gump Shrimp Company, Delosa's Pizza and Restaurant, Kohr Family Frozen Custard, and Mad Beach Pub Craft Brewing.
The 120-seat restaurant in Suite 201 has over 550 square feet of terrace space with views of the John's Pass inlet, according to the listing.
The kitchen is outfitted with two ventilation hoods, two walk-in freezers, and an industrial dishwasher.
Corinna Gattasso with RIPCO Real Estate is the exclusive broker for the property.
Palm Harbor shopping plaza sells for over $22 million
AN IMAGE OF THE The Shoppes of Boot Ranch | Developers Diversified Realty Corp
A Palm Harbor shopping plaza anchored by a Publix Super Market and Target has sold for $22.5 million.
Developers Diversified Realty Corp. sold The Shoppes of Boot Ranch, located at 300 - 900 East Lake Road South, to Ohio-based retail real estate investment and management firm SITE Centers.
The fully-leased 229,118-square-foot retail center serves the East Lake residents of the Palm Harbor market.
The plaza, constructed in 1990, is anchored by a Target and Publix Supermarket with co-tenants Five Guys, CVS Pharmacy, Menchie's Frozen Yogurt, CRUMBL Cookies, Freshii health food restaurant, and The Joint Chiropractic, among other businesses.
The purchase includes outparcel lots that currently house a Wendy's restaurant and three banks.
SITE Centers, an owner of open-air retail properties throughout the U.S., also operates Southtown Center in Tampa, Lake Brandon Village, and The Collection at Brandon Boulevard.
