22-story mixed-use tower in St. Pete gets key approval
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 9, 2022

A 22-story tower that will bring a mix of residential and commercial space to St. Pete has cleared a significant hurdle following unanimous approval from city council.

The council, meeting as the Community Redevelopment Agency, on Thursday unanimously found the planned $72 million development to be consistent with the Intown Redevelopment Plan. The tower is planned for 511, 533, 543 and 551 Third Ave. S.

Plans show the development will have 335 dwelling units, 11,560 square feet of commercial space and a 382-space parking garage. There will be approximately 17 workforce housing units on the site, and most units will be less than 750 square feet to help maintain their affordability.

Focus Acquisition Company LLC is the project developer, and St. Petersburg-based Place Architecture is designing the project.

Currently, the property has an outdated one-story office building, surface parking and vacant green space. The office building and parking lot will be demolished for the project. Attorney Don Mastry represented the applicant and told council the project will remove the boarded-up building, activating the long-underutilized space.

The tower will fill the majority of the property, and the ground floor will have a residential lobby, coworking space, fitness area, commercial space, loading area, facilities and an ingress/egress into the parking garage.

Floors two through five will be a mix of parking and residential units. The ninth through 22 floors will be residential units. There will be open green space to the east and south sides of the building next to the residential lobby.

“I’m happy about this; lots of us have waited a long time for something really good to be planned for that area,” Council Chair Gina Driscoll said.

Final building plans will be reviewed and approved by staff.