Real estate investor purchases another property near Salt Creek in St. Pete for $6 million
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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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A vacant site across from Lealman Elementary School will become a permanently affordable townhome community for 26 local families.
Habitat for Humanity Tampa Bay Gulfside and local officials gathered Thursday at 4000 58th Avenue North to mark the start of infrastructure work for Lealman Heights, a two-story townhome development at the corner of 58th Avenue North and 40th Street North.
The 26 townhomes are part of a broader 57-home Habitat community in Lealman, which will also include 31 single-family homes now under construction.
“Lealman Heights represents more than the construction of new homes,” Mike Sutton, president and CEO of Habitat for Humanity Tampa Bay Gulfside, said at the groundbreaking. “It represents opportunity, stability, and a brighter future for local families who have worked hard and dreamed of the chance to own a home in the community they love.”
The 26 townhomes will each span 1,500 square feet and include three bedrooms and a garage. The homes will be priced between $240,000 and $280,000, based on a buyer’s income.
High Point Engineering and G2 Design are leading the project team.
Habitat expects vertical construction to begin in summer 2027.