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.
Read More
For years, The Joint’s patio had the bones of a great outdoor hangout: space to sit, a neighborhood crowd, and the kind of laid-back setting that feels made for a cold beer and a game on TV.
What it did not have was much protection from Florida’s sun and rain.
That is about to change. The Joint, the longtime Jungle Terrace tavern at 7630 34th Avenue North, has added a covered patio, an outdoor bar, fans, and seven TVs.
Owners Ben Scherlis and Francesco “Fran” Balzano expect to welcome customers into the new space later this month, although an opening date has not yet been finalized.
“We just wanted to open this space up and make it a whole new outdoor concept where people can sit outside, order food and drinks, and watch TV, same as you could inside,” Scherlis said in a conversation with St. Pete Rising. “It’s just giving people another option.”