Developer buys more land on Salt Creek as investment now tops $59 million

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Developer buys more land on Salt Creek as investment now tops $59 million

Clearwater-based real estate firm Prometheus Partners has once again expanded its portfolio along Salt Creek in St. Pete.

The company, which has now spent $59 million acquiring over 15 acres in recent years, quietly acquired two more industrial properties just south of downtown as part of its ongoing effort to assemble a large swath of contiguous land in the Old Southeast neighborhood.

According to property records, Prometheus purchased the 3.4-acre site at 333 16th Avenue South, the 57,000-square-foot former home of Captain’s Fine Foods, for $7.5 million on Monday.

Last Tuesday, the company acquired the 0.48-acre property at 205 15th Avenue Southeast for $2 million. The site includes a 7,000-square-foot warehouse currently occupied by Universal Stenciling and Marking Systems.

Both sites are zoned IC (Institutional Center), which is intended for public and semi-public uses such as hospitals, universities, utilities, and government facilities.

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Three-story waterfront restaurant and bar proposed for downtown Gulfport

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Three-story waterfront restaurant and bar proposed for downtown Gulfport

A vacant quarter-acre lot along Gulfport’s downtown waterfront is slated to be redeveloped into a new restaurant.

Clearwater-based Prometheus Partners has proposed to construct a three-story, 5,700-square-foot restaurant and bar called Surf Shack at 5427 Shore Boulevard South, just steps from popular spots like O’Maddy’s Bar & Grille and Stormrunners Tavern.

Designed by St. Pete-based Fraze Design renderings show a fresh, modern coastal aesthetic with white siding with blue accents and striped awnings.

Plans call for multiple bars, a covered balcony, and ample seating designed to take advantage of Gulfport’s waterfront views.

While Prometheus has not yet released details about the menu, the concept is expected to feature casual coastal fare and drinks in line with its beach-inspired theme.

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Real estate investor purchases another property near Salt Creek in St. Pete for $6 million

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Real estate investor purchases another property near Salt Creek in St. Pete for $6 million

Clearwater-based real estate company Prometheus Partners, which has been quietly assembling acres of contiguous property just south of downtown St. Petersburg, has acquired another site.

Through its affiliate, Prometheus Franchise Restaurant Holdings LLC, the group purchased the 24,500-square-foot warehouse at 1499 Beach Drive SE for $6 million from Cato Holdings LLC.

Built in 1959, the art deco-style building sits on 1.37 acres near Salt Creek. It currently houses the Salt Creek Arts Center, a maker space offering studios and galleries for local artists, as well as moving company Swift Moves.

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