City presents new vision and redevelopment concepts for Port of St. Petersburg

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City presents new vision and redevelopment concepts for Port of St. Petersburg

For the first time in over two decades, the City of St. Petersburg is updating its master plan for the Port of St. Petersburg — a city-owned, 4.4-acre waterfront site just south of downtown.

Situated within the Innovation District and surrounded by key institutions like the University of South Florida to the west, Albert Whitted Airport to the north, and the U.S. Coast Guard to the east, the Port is seen as a uniquely positioned but underutilized asset.

In 1999, St. Pete City Council unanimously approved a $14.8 million plan to turn the site into a cruise ship port and an educational attraction called “Port Discovery.” But the project was ultimately scrapped after engineers later estimated the cost could exceed $72 million.

Now, the city is once again considering redevelopment options.

On June 25th, city officials and consultants from Moffatt & Nichol hosted a public meeting at The Coliseum to present three preliminary development scenarios and gather input from residents, business owners, and other stakeholders.

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St. Pete’s office market is shrinking — here’s why that matters

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St. Pete’s office market is shrinking — here’s why that matters

As residential and mixed-use towers continue to reshape downtown St. Petersburg, a quieter yet equally significant transformation is underway: a sharp contraction in the city’s office market.

While St. Pete is performing better than the national average on paper, the amount of available office space is shrinking, a trend that could complicate efforts to attract new businesses and corporate relocations.

Nationally, office space is disappearing at a record pace. According to a recent CBRE report, the United States will see a net loss of approximately 10.6 million square feet of office space by the end of 2025, representing the first year of true nationwide office space contraction in over a generation.

While many cities are grappling with declining demand, St. Petersburg faces a unique dilemma: its office market isn’t struggling due to oversupply. It’s struggling because viable office space is being demolished or repurposed in favor of housing and retail development.

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Multi-tenant retail building planned for the west end of Grand Central District

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Multi-tenant retail building planned for the west end of Grand Central District

A 6,079-square-foot retail building has been proposed for the west end of the Grand Central District.

The property is located at 2730 Central Avenue, just steps from the corner of Central Avenue and 27th Street, an area known for popular neighborhood restaurants like Wild Child, Baba, Casita Taqueria, and Bandit Coffee.

The site, which is owned by local real estate investor Rossi Bonugli, was previously occupied by two single-family homes that had been converted for retail use. They were demolished a few months ago to make way for the new development.

Bonugli had rented out the spaces for years but envisioned a greater use for the property.

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Dynasty Financial Partners to move headquarters to 400 Central Avenue in downtown St. Pete

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Dynasty Financial Partners to move headquarters to 400 Central Avenue in downtown St. Pete

The 46-story 400 Central condo tower under construction in downtown St. Petersburg has landed a major tenant to anchor its office space.

Financial services firm Dynasty Financial Partners will move from the 15th floor of 200 Central Avenue to 400 Central, which is the tallest building in St. Petersburg.

Dynasty has signed a 15-year lease to occupy all of 400 Central’s 45,000 square feet of Class A office space, according to a joint announcement from developer Red Apple Group and Dynasty.

The new headquarters will include a private entrance and lobby, a 15,000-square-foot rooftop terrace for special events, and several other custom amenities. Construction is underway, with Dynasty's move slated for November 2026.

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381-unit Live Local Act development with workforce housing proposed in north St. Pete

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381-unit Live Local Act development with workforce housing proposed in north St. Pete

A major new affordable housing development could soon rise in north St. Petersburg. Atlanta-based real estate developer Wood Partners is proposing a 381-unit multifamily apartment complex at 11101 Roosevelt Boulevard North.

The five-story building, named Alta Roosevelt, is being reviewed under Florida’s Live Local Act, a 2023 state law designed to incentivize the construction of affordable and workforce housing.

The law allows residential developments to override local zoning restrictions such as height, density, and land use if at least 40 percent of units are set aside for households earning up to 120 percent of the Area Median Income (AMI) and those units remain affordable for at least 30 years.

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Vintage clothing store Wendy’s Closet relocates to new Central Avenue spot this summer

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Vintage clothing store Wendy’s Closet relocates to new Central Avenue spot this summer

Wendy’s Closet, a beloved vintage clothing shop celebrating 30 years in business, is relocating this summer from 2107 Central Avenue to a new space just a few blocks down in St. Pete’s Grand Central District.

Owner Wendy Barrett has purchased a 3,300-square-foot building at 1912 Central Avenue, formerly home to Goodyear Rubber Products, securing her presence in the neighborhood for years to come.

“This store will have a better layout, a working AC, and it’s right across from the Imagine Museum. It’s perfect, it will be bigger and better,” Barrett told St. Pete Rising.

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Aerial St. Pete: A bird’s-eye view of St. Pete’s development boom

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Aerial St. Pete: A bird’s-eye view of St. Pete’s development boom

The latest edition of Aerial St. Pete highlights the progress of six major real estate projects currently under construction in St. Petersburg.

Aerial St. Pete is a recurring column by St. Pete Rising that features exclusive aerial photography documenting the city’s rapid development. To capture these images, we’ve partnered with AB3 Visuals.

This month’s update showcases construction progress at the Residences at 400 Central, Art House, 3rd & 3rd, Echelon Site 7 & 8, Sky Town, and Viv Apartments.

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29-story condo tower planned for 4th Street South in downtown St. Pete, replacing earlier condotel proposal

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29-story condo tower planned for 4th Street South in downtown St. Pete, replacing earlier condotel proposal

A Clearwater-based developer is moving forward with revised plans for a high-rise residential tower in downtown St. Pete, significantly altering a previously approved design.

Valor Capital is seeking city approval to amend its original proposal for the Roche Bobois Residences, a project initially envisioned as a 25-story, 152-unit condotel tower.

The development is slated for the northeast corner of 4th Street South and 4th Avenue South, just two block from the Publix-anchored University Village retail plaza.

The revised plan reimagines the project as a 29-story condominium tower with 165 residential units, 4,103 square feet of commercial space, and 103 parking spaces (83 in a parking garage and 20 surface spaces to the west of the tower).

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Hermitage Apartments in downtown St. Pete sells for $104.5 Million

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Hermitage Apartments in downtown St. Pete sells for $104.5 Million

A 348-unit apartment complex in the heart of downtown St. Petersburg has a new owner and a new name.

Boston-based real estate management firm General Investment & Development (GID) has purchased The Hermitage Apartment Homes at 151 7th Street South.

The sales price and transaction details have not been published. The Brass Enterprises, a private Toronto real estate investment firm, has owned the eight-story luxury apartment community since 2019, purchasing it for $107,625,000.

Under the new ownership, The Hermitage, named after an art museum in St. Petersburg, is now rebranded as Windsor Central Arts.

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Foxtail Coffee Co. to open at Liberty Yards in downtown Largo

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Foxtail Coffee Co. to open at Liberty Yards in downtown Largo

Foxtail Coffee Co. will soon bring its signature craft coffee and cozy aesthetic to downtown Largo, becoming the first tenant announced for Liberty Yards, a modern two-story retail and restaurant development set to rise at the southwest corner of 4th Street Southwest and West Bay Drive.

Atlanta-based real estate investment firm The Ardent Companies, which acquired the site last year for $1.85 million from The Liberty Worship Center across the street, is behind the 11,175-square-foot project.

The development’s name, Liberty Yards, pays homage to the church and reflects Ardent’s intention to create a community-focused destination.

The Winter Park-based brand has expanded rapidly since launching in 2016 and now operates 88 locations across Florida and several other states. The coffee chain currently operates two other Pinellas County locations at 730 4th Street in St. Petersburg and 13501 Icot Boulevard in Clearwater.

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