St Petersburg / St Pete Beach / South Pinellas Development News

[koopalicious]

It's a shame that the existing building is not required to be preserved and relocated.

[I-275westcoastfl]

Originally Posted by koopalicious

It's a shame that the existing building is not required to be preserved and relocated.

Oh yeah I forgot to mention that too. That should be a requirement for any building downtown! Thats what happens when NIMBY's get their way, I would have rather had a taller building and had the old building moved and preserved.

[Jasonhouse]

Originally Posted by koopalicious

It's a shame that the existing building is not required to be preserved and relocated.

Meh, it's an old dumpy woodframe house that there are hundreds of all over the city. (and hundreds more in just about every other southern city)

So far as the project itself, I find it pretty impressive that they're shoehorning 14 units, some ground floor retail AND they still have enough room for gated surface parking! It's only an 18k sqft parcel. There was just one single family home on the lot before.

The original 21 story building was damned impressive as a filler project, but the reduced version is still impressive imho.

[TampaGuy]

As more people wonder where to find rental apartments in St. Petersburg, developers are taking notice of the demand
http://www.tampabay.com/news/busines...rsburg/1232575

ST. PETERSBURG — As the economy rebounds a growing number of multifamily housing projects are in the works. There are plans for an estimated 900 or more units that will meet demand or possibly oversaturate the market.

The developers of the Portland, which offers workforce housing to limited-income residents at 300 Eighth St. N, hopes to build a similar 12-story tower called the Lansing near Tropicana Field. The project at 11th Street and First Avenue N would have 75 units and charge rents of about $600 to $800 a month.

Justin Wilson, with 908 Development Group, thinks this project will be as successful as the fully leased Portland because housing grants and other incentives allow for lower development costs and rental rates of less than $1 a square foot. He wonders if a plethora of new complexes charging higher rental rates will fare as well.

"There has been a pent-up demand," he said. "But if there are five or six projects in the works, I'd have to go in and see how many units are proposed in each one. It might be too many to deliver all at the same time to a municipality as small as St. Pete."

One of the newest multifamily projects on the horizon has roots dating back to 2000.

A subsidiary of Wells Fargo proposes to build a 150-unit development near the intersection of Gandy Boulevard and Fourth Street N. The project, at 10980 Oak St. NE, would consist of five three-story apartment buildings around a pool and clubhouse.

Dave McNulty of Wells Fargo declined to comment except to say the bank acquired the property through foreclosure. Don Mastry, a real estate attorney with Trenam Kemker law firm, is working on the proposal. Mastry said the property will likely be sold to Bayfair Properties, a Tampa developer of multifamily projects and custom homes. A Bayfair representative could not be reached for comment.

A public hearing on the project will be held at the city's Development Review Commission meeting at 2 p.m. June 6 in City Council chambers, 175 Fifth St. N. The city's development review staff is recommending approval.

A similar project was proposed for the same location in 2000, but that was five owners ago. The changes in ownership and stalled development plans mirror the ups and downs of the real estate economy and demand for multifamily housing.

In 2000, developer Grady Pridgen planned to build a mix of lofts and traditional units in two buildings designed to look like multigabled houses. His entity, Oak Street Development, bought the land for $380,000 in 1998. But at the end of 2000 a California teachers fund bought the property for $1.3 million. Three years later the retirement fund sold it to a Minnesota investment group for $1.6 million.

In 2005, Pridgen bought the land again for $3.5 million. He pursued development of the apartments with the city but never broke ground. Wells Fargo foreclosed on Pridgen's land and took title of it in 2010. Pridgen could not be reached this week for comment.

But now the time seems right again for multifamily development.

"We're seeing an increase in interest and answering questions from various developers. A number of different people are talking about a number of different multifamily projects," said Philip Lazzara, a zoning official with the city's development services offices.

"There isn't enough product out there for us to fill. When we get a listing we probably get 10 people or more who want to see it," said Shirley Rigo, a property manager for Coldwell Banker, who specializes in renting condos and single-family homes. "Everybody wants to be downtown."

There are many reasons. Business executives are taking jobs here but leaving their families elsewhere to finish school and sell the house. Others want to rent before deciding where to buy. People who moved in with parents during the recession are back on their feet and renting again. And others who lost homes to foreclosure now must rent.

Also, during the real estate boom, apartments were converted to condos, and mobile home parks were razed so land could be sold for condo development. With the economic downturn many of those projects never happened. That also feeds the demand for rental units, according to Mike Meidel, director of Pinellas County economic development. Although population growth is close to flat, many of those coming in want to rent apartments as they familiarize themselves with the area and make sure their job is stable, he added.

"So there is a lot of demand for rental housing and you can see that in the (low) vacancy rates in existing properties and the banks see that and they will loan money for multifamily projects," Meidel said.

A Cleveland-based developer is planning a 300-unit upscale apartment complex in downtown St. Petersburg between Fourth and Fifth streets and Third and Fourth avenues S on what is now a Tampa Bay Times parking lot. The company plans one- to three-bedroom units ranging from 600 square feet to 1,200 square feet. Monthly rents would range from $800 to $1,800.

Then there is the site plan on file with the city for a seven-story mixed-use development on Third Street S next to the downtown Publix that calls for 296 units.

The Miami owners of the Tropicana building in downtown St. Petersburg are making plans to tear down the 41,000-square-foot structure at 25 Second St. N to make way for a new residential and hotel complex. The developer, Tropicana Redevelopment, hasn't specified how many residential units it will build but said the project will be "very large."

Katherine Snow Smith can be reached at (727) 893-8785 or kssmith@tampabay.com.

[Jasonhouse]

The Tropicana block is active again?

[koopalicious]

Originally Posted by Jasonhouse

Meh, it's an old dumpy woodframe house that there are hundreds of all over the city. (and hundreds more in just about every other southern city)

I'm pretty sure that there are not hundreds of Queen Anne's in St. Petersburg.

[I-275westcoastfl]

Not only that but St. Petersburg is usually good with doing those things, not knocking down every historic building for a parking lot like Tampa. Those houses usually get sent across the bay and continue on serving a purpose.

[Jahi98]

Plans for More Downtown Apartments on the Rise

http://www.tampabay.com/news/busines...e-rise/1239605


ST. PETERSBURG — The apartments just keep on coming.

Two more developers are planning multiunit buildings for downtown St. Petersburg.

Site plans for an eight-story building with 324 apartments on half of a city block across from Hotel Indigo were recently approved by the city.

The building, named Bayway Apartments, will go up at 235 Third Ave. N and is being developed by California-based Mill Creek. The land is owned by Wells Fargo and listed for sale.

The contemporary-style building will have a courtyard and parking garage, according to site plans filed with the city.

"Their next step is to submit for building permits," said Philip Lazzara, zoning official.

This is the same site where developer Grady Pridgen planned Bayway Lofts about a decade ago. He envisioned a $50 million to $100 million mixed-use development that would rise 42 stories and include a hotel and rooftop restaurant. The bank took control of the land in 2010.

Pridgen could not be reached for comment, nor could Alan Kolar, a Mill Creek representative in Orlando.

Another long-vacant site at the northwest corner of Sixth Street and Fourth Avenue S is under contract to a Tampa developer who plans to build Campbell Landings, a four-story complex with 96 apartments. The one- and two-bedroom units will be affordable housing designated for residents 55 and older.

"We like the site and we love St. Petersburg," said the developer, Bowen Arnold. "I think there's pent-up demand for this." His market research found 31 percent of the 210,000 people living within 5 miles of the site are 55 or older. Almost 4 percent of them earn less than $35,000. The property is also within blocks of Bayfront Medical Center.

Arnold's company, DDA Development, is spending $18 million on the project. Much of that comes in the form of tax credits as incentive for building affordable housing. Construction will start in early November and be completed by the end of next year, Arnold said.

He plans to close on the property within a few months. It's now owned by dentist Joseph Craig and is listed on Gulf Coast Commercial's website for sale for $2.2 million.

Campbell Landings will meet the requirement to be certified as environmentally friendly by the Florida Green Building Coalition, according to Tim Clemmons, the architect designing the project. Its concrete construction and energy-efficient windows are two key factors.

"It's going to be U-shaped with a nice big courtyard in the middle. We're going to have a vegetable garden for the residents to tend," said Clemmons, principal of Mesh Architecture. Other amenities include a fitness center, library and computer lab.

The one- and two-bedroom apartments will rent for $280 to $678 a month and range in size between 708 square feet and 918 square feet.

Clemmons is also designing $5 million worth of renovations at MLF Towers, a senior housing center at 540 Second Ave. S. The 14-story building has 145 apartments and was built in 1981.

Each unit will get a renovated kitchen and bathroom and new lighting, carpet and paint job. Work will begin in November.

"We're also updating the lobby, offices, dining room and kitchen. We're going to open it up. It's going to be more handicap accessible," Clemmons said. "We're going to add a fitness center by reorganizing the space a little."

[Last modified: Jul 10, 2012 05:15 PM]

Copyright 2012 Tampa Bay Times

Image of Campbell Landings

[TampaGuy]

Snell Isle condo set to restart, could break ground by the end of the year
http://www.bizjournals.com/tampabay/...art-could.html

A 95-unit condominium and townhouse project stalled by the recession could start rising along the Snell Isle Inlet by the end of the year.
“We stopped when the economy crashed,” said Carlos Yepes of Belleair Development Group in Pinellas Park.
“We are now seeing a lack of inventory,” he said. “We have to start planning ahead because construction is going to take about 18 months.”
The project, called Waterclub on Snell Isle, will offer 84 units in two nine-story towers (including two stories of parking), plus 11 townhouses.
Units will range from 1,671 square feet to 1,921 square feet. Yepes said the price point hasn’t been finalized.
The 5.25-acre site is in the 1300 block of Snell Isle Blvd. N.E. in St. Petersburg, across from St. Raphael Catholic Church. It used to be occupied by Snell Isle Plaza.
Waterclub also includes a 56-slip marina, which was renovated earlier.
The project is expected to cost about $30 million, Yepes said.
Belleair Development and partner Kolter Group of West Palm Beach are self-financing the project, Yepes said.
Yepes said he submitted drawings and other plans to St. Petersburg earlier this week. It will require a Development Review Commission hearing.

Link to render: http://assets.bizjournals.com/tampab...le*900.jpg?v=1

[DShenise]

Wow, that's some inspiring design. I wonder if they sat on the Bayway for a couple hours and sketched out a copy of the condos across from the butcher shop.

[TampaGuy]

Originally Posted by DShenise

Wow, that's some inspiring design. I wonder if they sat on the Bayway for a couple hours and sketched out a copy of the condos across from the butcher shop.

Yeah... very original. (I assumed you were being sarcastic lol)
They remind me a lot of the Grande Verandahs on the Bay on Gandy near the bridge.

[Del Mayberry]

Never heard of the Snell Isle condos until now. Looks nice. Bring on the cranes.

[Jasonhouse]

They're a bit of a big deal for Snell Isle. I think there's only one other 7 story building nearby.

[Del Mayberry]

Originally Posted by Jasonhouse

They're a bit of a big deal for Snell Isle. I think there's only one other 7 story building nearby.

Do you mean typical nimbyism?

[Jasonhouse]

I just mean that if you're used to living in a largely single family neighborhood, that having two 9 story buildings go up would take some adjusting.

[Jahi98]

Whole Foods is looking into a site in DT St. Pete.

http://www.tampabay.com/news/whole-f...rsburg/1251371

The residential population is growing. I think Trader Joe's would be a better fit, but Whole Foods would definetly add to the cache of DT St. Pete and make it more of a shopping destination.

I'd love to see a Target "City" downtown, too.

[Jasonhouse]

I thought this was an interesting snippet from that article...

The Miami Beach-based broker who represents Whole Foods in real estate acquisitions wouldn't comment on the downtown St. Petersburg site or discuss the Texas-based chain's general plans for Tampa Bay.

"We are looking throughout the Tampa, Clearwater, St. Petersburg market," said Michael Finkle, managing director at Koniver Stern Group.

There is a Whole Foods at Interstate 275 and Dale Mabry Highway in Tampa and another in downtown Sarasota. A 36,000-square-foot store is slated to open in Carrollwood

I was just up there the other day and saw this new location up near Dale Mabry and Northdale Blvd. (SW corner)

[Jahi98]

Would be cool to have 3 or 4 locations here between Tampa and Sarasota.

What I am trying to understand is what they are planning to do with the existing building.

[Jasonhouse]

Nothing. They would take the surface lot on the northern side of the parcel.

[Jahi98]

The new Shops at St. Pete will have little in common with the old BayWalk

http://www.tampabay.com/news/busines...cle1252638.ece

Looks nice! Considering the turnaround at Mahaffey, I give Bill Edwards a good chance of pulling this off. Security will be key. As long as the movie theatre is there, security will have to remain tight.

It it comes off as planned, this would be a good start to a nice retail core downtown. Combined with the Tropicana Block proposal (if/when that happens), downtown St. Pete might become a real shopping destination.