March 19, 2025

304-unit apartment complex in Largo to convert into affordable housing

March 19, 2025/ Veronica Brezina

The Oasis at Bayside apartment complex in Largo will undergo an extensive renovation to convert the units to affordable housing and update the aging amenities.

Washington, DC-based multifamily investor Gravel Road Partners and Bridge Investment Group, an investment company headquartered in Salt Lake City, Utah, purchased the 304-unit property at 305 Glades Circle on March 12th for $42.25 million.

Berkadia Senior Managing Director Jason Stanton represented the seller, Latitude Management Real Estate Investors of Beverly Hills, California, in the transaction.

The new owners are partnering with Pinellas County to renovate the 1974-built property and dedicate 258 units for tenants earning 50% to 80% of the Area Median Income (AMI). Currently the property has no affordability requirements.

February 27, 2025

Inside the 2025 Downtown Development Guide: Grappling with growth amid market headwinds

February 27, 2025/ Veronica Brezina

New zoning changes, the sweeping rise of commercial and residential development, and the promise of revitalizing neighborhoods are molding the ever-evolving identity of the Sunshine City.

This Tuesday, the St. Petersburg Downtown Partnership released its 2025 Downtown St. Pete Development Guide, an annual resource tool providing a snapshot of the latest economic and commercial activity to encourage public and private stakeholders to spur healthy growth in the area.

"The data, trends, and projects on the horizon really comprise the blueprint for how we continue to grow with purpose, intention, and resilience," Mayor Ken Welch said during the Partnership's Development Summit hosted at the new EDGE Collective office building next to the Moxy Hotel.

February 24, 2025

$200 million mixed-use project The Central takes shape on Central Avenue in downtown St. Pete

February 24, 2025/ Veronica Brezina

The long-awaited mixed-use development in the heart of St. Pete's EDGE District has hit a construction milestone.

Tampa-based Ellison Development is set to cut the ribbon next month, celebrating the completion of a 531-space parking garage at 1301 Central Avenue, a component of The Central development, a 2.1-acre redevelopment of the old St. Pete Police headquarters that will feature a hotel, a trophy office building, retail, workforce housing, and more.

The project, which broke ground in February 2024, sits directly across the street from Ferg's Sports Bar and Grill and is near The Edge Collective development, a planned live-work-and-play destination anchored by the newly opened Moxy Hotel.

January 27, 2025

Pinellas County approves over $5 million for 1,000-unit apartment community in west St. Pete

January 27, 2025/ Veronica Brezina

A 1,000-unit apartment community proposed for west St. Pete is one step closer to reality after Pinellas County approved funding for the construction of the project, which will contain 300 units for workforce housing.

On January 14th, Pinellas County Board of Commissioners unanimously approved $5.25 million for the construction of the first phase of Azalea Gateway, set to rise at 1501 72nd Street North near Azalea Park.

The approved county funds are contingent upon the City of St. Pete approving an additional $6 million for phase one construction. St Pete City Council is expected to vote on the funding request in February.

January 15, 2025

2,084-unit apartment community Sky Town to include affordable housing after approval of county funds

January 15, 2025/ Veronica Brezina

One of the largest residential projects currently in development in St. Petersburg will now include affordable housing thanks to financial support from Pinellas County.

On Tuesday, the Pinellas County Commission unanimously approved $5.5 million for the construction of the first phase of Sky Town, which is expected to break ground in March and include 401 apartments, 121 of which will now be affordable.

Sky Town, which is being developed by Coral Gables-based Altis Cardinal, is a massive mixed-use development expected to bring 2,084 apartments across six five-story buildings to 3201 34th Street South in the Skyway Marina District.

The project, which sits on 34.2 acres, will also include over 80,000 square feet of retail space, 22,500 square feet of office space, 4,000 parking spaces, and 119,160 square feet of self-storage space.