Atlanta developer closes on land for 400 apartments for $22.5 million
By Emma Behrmann
Tampa Bay Business Journal
Published: Mar 3, 2026

An Atlanta developer has closed on the former Bankers Financial Group headquarters in St. Petersburg, where it plans to build an apartment building.

Wood Partners bought the 5.75-acre property home to an office building for $22.5 million, according to a deed filed Monday. The developer plans to build 381 units at 11101 Roosevelt Blvd. N in a project called Alta Roosevelt through the Live Local Act, which allows developers to circumvent local zoning restrictions if they dedicate at least 40% of the units to households earning up to 120% of the area median income.

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