Inside the 2025 Downtown Development Guide: Grappling with growth amid market headwinds
/
New zoning changes, the sweeping rise of commercial and residential development, and the promise of revitalizing neighborhoods are molding the ever-evolving identity of the Sunshine City.
This Tuesday, the St. Petersburg Downtown Partnership released its 2025 Downtown St. Pete Development Guide, an annual resource tool providing a snapshot of the latest economic and commercial activity to encourage public and private stakeholders to spur healthy growth in the area.
"The data, trends, and projects on the horizon really comprise the blueprint for how we continue to grow with purpose, intention, and resilience," Mayor Ken Welch said during the Partnership's Development Summit hosted at the new EDGE Collective office building next to the Moxy Hotel.
Read More
The next phase of the Rainbow Village redevelopment in Largo is taking shape, with four new apartment buildings planned as part of a long-term effort expected to deliver approximately 400 affordable homes to the community.
Newstar Development, in partnership with the Pinellas County Housing Authority, recently filed construction permits for Grand Oaks, the third phase of the four-phase redevelopment at 13224 Washington Drive in Largo’s Greater Ridgecrest neighborhood.
Grand Oaks will replace 62 older public housing units with four three-story apartment buildings containing 120 affordable apartments for families earning between 30% and 80% of the area median income (AMI).
The $48.7 million development will include 33 one-bedroom apartments measuring 741 square feet, 60 two-bedroom apartments measuring 1,066 square feet, and 27 three-bedroom apartments measuring 1,341 square feet.
Residents will have access to a clubhouse and community building with a fitness center, sports courts, green space, and an attached wellness center, along with a playground and youth recreation center.