Developer buys St. Pete property in $16.5 million deal for 304-unit affordable housing complex
/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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Madeira Beach’s longtime grocery store is reopening this week in a new format.
Aldi will debut this Thursday, September 24th, at 15200 Municipal Drive in Carter Plaza, across from Archibald Beach Park and R.O.C. Park.
The store replaces the former Winn-Dixie, which closed last year after more than 50 years in business. The Municipal Drive store was built in 1975 and had operated as a Winn-Dixie ever since.
Winn-Dixie Liquors will remain open.
To mark the grand opening, the first 200 customers in line Thursday will receive a bag of branded items and a “golden ticket,” an Aldi gift card worth up to $100. Employees will also distribute free Aldi shopping totes throughout the day.
The store will be open daily from 9 a.m. to 8 p.m.