Massive 31-story, twin-tower development approved for downtown St. Pete
/The project will include 824 market-rate apartments and more than 35,000 square feet of ground-floor retail | ARC3 Architecture
St. Pete City Council, convening as the Community Redevelopment Agency (CRA), has unanimously approved plans for one of downtown’s largest residential projects to date: a transformative $225 million development featuring two 31-story towers at the former headquarters of UPC Insurance.
First reported by St. Pete Rising earlier this year, the development at 800 2nd Avenue South is being jointly developed by St. Pete-based developer Echelon and Tampa-based investment advisory firm Third Lake Partners.
With CRA approval secured, the project will now go before the Development Review Commission, allowing construction to begin as early as the first quarter of 2026.
the development at 800 2nd Avenue South in downtown St. Pete | sT. pETE rISING
The project will include 824 market-rate apartments, more than 35,000 square feet of ground-floor retail, and a total development footprint of over 1.5 million square feet, surpassing that of the 46-story Residences at 400 Central, which will have 1.2 million square feet of development once complete later this year.
Once finished, the two 31-story towers will be the tallest structures west of 5th Street and will rank among the ten tallest buildings in St. Pete.
The site currently contains a 40,000-square-foot office building, which will be demolished to make way for new construction. Most recently, the building served as a temporary office for the Tampa Bay Rays.
The project will include 824 market-rate apartments and more than 35,000 square feet of ground-floor retail | ARC3 Architecture
Designed by ARC3 Architecture, the twin towers will rise above a seven-story parking podium that will contain 1,550 parking spaces and 828 bicycle stalls. The podium’s rooftop amenity deck will include two resort-style pools, social lounges, fitness centers, and sporting courts, all offering expansive views of the downtown St. Pete skyline.
The project will feature a mix of studio, one-, two-, and three-bedroom apartments, with over 400 units measuring under 750 square feet. Each unit will include a private balcony, and penthouse residences will occupy the uppermost levels.
The development places an emphasis on pedestrian-friendly design, with shaded sidewalks, active retail frontage, and improved connectivity along a key corridor linking the downtown core with the future Tropicana Field redevelopment.
the twin towers will rise above a seven-story parking podium that will contain 1,550 parking spaces and 828 bicycle stalls | ARC3 Architecture
The 3.05-acre site was once part of a larger proposed development 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 expansion.
That plan, which required city funding, was ultimately rejected by St. Petersburg Mayor Ken Welch, citing a lack of affordable housing, among other concerns.
“Goodness it’s just very different from where we started here and it does feel a little like a missed opportunity,” Councilmember Richie Floyd said during the meeting, referring to the previous Moffitt Cancer Center mixed-use proposal.
This new project will move forward without city financing and complies with DC-1 (Downtown Center-1) zoning regulations, which permits a maximum Floor Area Ratio (FAR) of 7.0 and a building height up to 375 feet under a streamlined review process. The proposed towers would meet the FAR limit and stand 343 feet tall.
The project will include 35,800 square feet of retail on the ground floor fronting 2nd Avenue South | ARC3 Architecture
Third Lake Partners acquired full ownership of the site earlier this year, purchasing the western half from the City of St. Pete for $10 million. The firm had previously acquired the eastern half in 2022 for $10.5 million.
The project team also includes B&W Structural Designs and engineering firm George F. Young.
Demolition and site preparation are expected to begin in early 2026.
Echelon and Third Lake have a history of collaboration, including on the 33-story 3rd & 3rd apartment tower now under construction at 235 3rd Street South in downtown St. Pete.
Additionally, Echelon is leading development of the master-planned Echelon City Center, a 20.5-acre mixed-use development in north St. Petersburg’s Carillon Office Park.
