Developer buys St. Pete property in $16.5 million deal for 304-unit affordable housing complex
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Houston-based The Hanover Company, a private real estate developer, has purchased a retail plaza that is expected to be redeveloped into a 304-unit affordable housing community.
The group has acquired the 8.95-acre site at 3100 22nd Avenue North in North Kenwood for $16.5 million from ZSPR PROPCO of Tampa LLC, according to a deed recorded on August 4th. The existing 71,064-square-foot retail plaza previously housed JB Factory Flooring, Studio Physique, and a MetroPCS store.
The Hanover Company also took out a $46.92 million loan from Texas-based Comica Bank.
The company’s redevelopment plans, which were filed in 2024, represented the first Live Local Act application received by the City of St. Petersburg.
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Peacock Home, a shop specializing in vintage finds, globally sourced décor, and locally made goods, will open October 1st in St. Petersburg’s Grand Central District.
The 1,100-square-foot store will occupy the second floor of the building at 2635 Central Avenue, home to Hostess, a gift shop and event space.
It is the first brick-and-mortar retail venture from longtime St. Pete resident and interior designer Erika Basher.
Peacock Home grew out of a five-day pop-up Basher held at Hostess six months ago.
She rented a moving truck, brought in a collection of furniture, décor, and other finds, and sold nearly everything within five hours of opening.
“I’ve always been into interior design. It’s 100% a passion of mine,” Basher said in a conversation with St. Pete Rising. “I’ve made my living doing it, but I’ve never opened up a retail store.”