The former headquarters of UPC Insurance in downtown St. Pete may soon be transformed into one of the city’s largest residential developments.

Plans were recently submitted to the City of St. Petersburg for a $225 million development consisting of two 31-story towers with 824 apartments and 35,800 square feet of retail space at 800 2nd Avenue South.

The existing 40,000-square-foot building, which has served as the temporary office of the Tampa Bay Rays since Hurricane Milton damaged Tropicana Field, will be demolished to make way for the new development.

Proposed by St. Petersburg-based real estate firm Echelon, LLC, the project is being spearheaded by Cody LeClair, Senior Vice President of Development and his team at Echelon in conjunction with Tampa-based investment advisory firm Third Lake Partners—longtime collaborators on local developments.

If built, the towers would become the tallest structures west of 5th Street and the 10th tallest buildings overall in downtown St. Pete.