St. Pete Innovation District unveils new master plan shaping future waterfront growth
/The Innovation District, a 560-acre neighborhood on the southeastern edge of downtown St. Pete, is putting the final touches on a new master plan outlining a long-term vision for growth, including possible zoning updates that could lead to larger mixed-use developments.
The plan, which was presented during an open house on Wednesday night, is meant to be a flexible, long-term framework rather than a rigid set of instructions.
Developed in partnership with the City of St. Pete and Kimley-Horn, the plan emphasizes expanded waterfront access, climate resilience, mixed-use development, and stronger connections to downtown and surrounding neighborhoods.
First established in 2016, the Innovation District has become a hub for marine science, healthcare, research, and technology anchored by major institutions including the University of South Florida St. Petersburg, Johns Hopkins All Children’s Hospital, Orlando Health Bayfront Hospital, Port St. Pete, and Albert Whitted Airport.
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A 16-story apartment tower has been proposed across from the University of South Florida St. Petersburg campus, replacing a larger project approved for the same property last year.
The proposed development would rise at 446 4th Street South, at the northeast corner of 5th Avenue South and 4th Street South.
The 0.7-acre property is currently home to a 105-year-old commercial building previously occupied by Fresenius Kidney Care American Dialysis Center and an adjacent surface parking lot.
The project, which would be developed by Charleston, South Carolina-based The Beach Company, will contain 165 apartments, approximately 3,200 square feet of ground-floor retail space, a 176-space parking garage, and 178 bicycle spaces.
It’s a significant change from the development St. Petersburg City Council approved for the site in February 2025.