Done Deals: Medical group to build St. Pete hub, Townhome community opens near downtown, Senior housing project begins
/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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All Florida Orthopaedics to Open New 5th Street Location
The existing office at 10051 5th Street North, which will be demolished to make way for a new 60,800-square-foot medical office building | Loopnet/Cushman & Wakefield
All Florida Orthopaedics has a new location coming to St. Pete.
The medical group will redevelop a 3.73-acre property at 10051 5th Street North near the corner of Gandy Boulevard and 4th Street North.
A site plan and application showing a future three-story, 60,880-square-foot medical office building was recently submitted to the Southwest Florida Water Management District (SWFWMD) by the property owner and Pensacola-based planning firm Planeng Inc.
All Florida Orthopaedics has been a staple in the St. Petersburg community for nearly thirty years.
All Florida Orthopaedics currently has 4 locations across the greater St. Petersburg area. They are located downtown St. Pete on the Bayfront hospital campus, South Pasadena on the Pasadena hospital campus and an office on Central Avenue.
The site plan for the Florida Orthopaedic institute’s new center | SWFWMD
Their current 4th street location will be moving to this new facility, which will include, occupational and physical therapy, MRI, CT scan, X-ray and an ambulatory surgery center, as well as 20,000 square feet of physician clinic space.
The existing 50,931-square-foot building, which formerly served as a medical office for Optum Primary Care, will be demolished to make way for the new building.
St. Pete-based real estate firm Optimal Outcomes LLC, which purchased the two-story building last year for $8.75 million, partners with medical professionals to effectively and efficiently source the tools needed to build and maintain high-end medical facilities.
The facility is set to open in mid-2025.
Canvas City Homes welcomes residents in the Warehouse Arts District
Canvas City Homes, a new 10-unit townhome community, is now complete at 2700 5th Avenue South in the Warehouse Arts District of St. Pete | sight development
Canvas City Homes, a new townhome community in St. Petersburg's Warehouse Arts District, recently welcomed its first residents.
Tampa-based real estate firm Sight Development broke ground on the 10-unit community in late 2022 at 2700 5th Avenue South in the Warehouse Arts District of St. Pete
"We're thrilled to contribute to the growth and vitality of the Warehouse Arts District while providing residents with an unparalleled living experience," said Michael Mincberg, Principal at Sight Development, the project’s developer.
According to the team, the development is "designed to celebrate the local arts scene while offering modern urban living."
Canvas City Homes offers two three-bedroom floor plans, ranging from 2,000 to 2,100 square feet, with an open-concept living space and a two-car garage.
THE EXTERIOR AND INTERIOR ARE INFLUENCED BY THE SURROUNDING WAREHOUSES THAT HAVE BEEN CONVERTED TO ARTIST STUDIOS AND MAKER’S SPACE | sight development
Each three-story home has high-end finishes such as a polished concrete entry, oversized subway tile kitchen backsplash, quartz countertops, and an industrial-style loft with polished concrete floors, exposed block walls, and high ceilings.
The homes also feature private yards and second-floor balconies.
The team has sold four homes. Pricing for the remaining six townhomes starts at $700,000.
Developer breaks ground on affordable senior housing
The site of heritage oaks, a four-phase affordable apartment development in largo | google earth
Tampa-based affordable housing developer Newstar Development has started site work for Heritage Oaks, an 80-unit affordable apartment community for seniors in Largo.
It will be the first phase of the overall plan to bring 240 new affordable units.
The Pinellas County Housing Authority and Newstar hosted a groundbreaking event on Friday for the new development rising at 12455 130th Avenue North.
Heritage Oaks will replace Rainbow Village, a 48-unit apartment building. The new one- and two-bedroom units will be available for residents earning at or below 60% of the area median income (AMI).
The site plan for heritage oaks, an 80-unit affordable apartment community for seniors in Largo | newstar development
Current Rainbow Village residents impacted by the Phase 1 construction of Heritage Oaks started relocating late last year. Initially, 48 residents residing at the property have been issued a Housing Choice Voucher (HCV).
Relocated residents, who qualify, are eligible for preference to reserve a unit in Phase 1.
The first phase of the project is expected to be complete by early 2026.
This four-phase project is estimated to cost $28.98 million. Pinellas County previously approved $3.36 million in construction financing from multiple sources to fund the project.
Coffee Pot Bayou estate sells
The home at 450 Coffee Pot Riviera NE | realtor.com
A waterfront estate within the Coffee Pot Riviera enclave on Snell Isle has sold for $4.35 million.
The 4,054-square-foot home, built in 1992 at 450 Coffee Pot Riviera NE, contains three bedrooms, three-and-a-half bathrooms, high ceilings, a home office with a private courtyard, and an outdoor entertainment space.
The home features a pool, a Tuscan-style pergola, a lanai, and an updated dock with a boat lift, according to the listing.
The outdoor pergula dining space as seen in the evening | realtor.com
The home previously sold for $2.099 million in 2018.
Debbie Momberg with Smith & Associates Real Estate represented the sellers. Andrew Salamone with Compass Florida LLC represented the buyers.
DR Horton to build new townhomes in Palm Harbor
Harbor Landing, a new 64-unit townhome community coming to palm harbor | D.R. horton
Residential developer D.R. Horton has purchased 60 lots from local developer HP Capital to build a new housing community in Palm Harbor.
HP Capital, the same group behind St. Pete's 18-story Reflection condo tower, sold the property and surrounding vacant parcels at 4706 Pleasant Avenue to D.R. Horton for roughly $9.596 million.
The new Harbor Landing development will feature 64 townhomes with all-concrete block construction on the first and second floors.
a rendering of the kitchen in the “vale” floorplan in harbor landing | d.r. horton
According to a landing page for the project, the Harbor Landing units will have three bedrooms, two-and-a-half bathrooms, granite kitchen countertops, Smart Home Technology, one-car garages with two-car driveways, and all-concrete block construction on the first and second floors.
D.R. Horton has two different unit floorplans ranging from 1,673 to 1,758 square feet.
HP Capital cleared the land and completed infrastructure work before selling the property.
