Long-watched waterfront land on Gulf to Bay Boulevard is up for sale
By Breanne Williams
Tampa Bay Business Journal
Published: Oct 5, 2023

A waterfront site ripe for development on Gulf to Bay Boulevard has hit the market.

The 12.5-acre site at 2905 Gulf to Bay Blvd. is a half mile from the Bayside Bridge that connects Clearwater to St. Petersburg and is zoned for multifamily development.

Frank Carriera and Joe Thavis of CBRE Group Inc. are marketing the property for sale. The list price was not disclosed; large commercial properties typically are not marketed with a public asking price.

“What’s really unique about this site is obviously, it is a really large waterfront property with 756 feet of water frontage that also connects to Gulf to Bay,” Carriera told the Tampa Bay Business Journal. “I think that’s what truly sets this apart. It’s one of the last undeveloped waterfront sites in all of the Tampa (Bay) area that’s not an assemblage. That and the fact it has access to the main road.”

Lying within the US 19 Regional Center zoning district, this property can be transformed into a variety of residential buildings that range from 375 units to more than 1,000 units. Carriera said there are many options for what could be built there, but it has a “high probability” of becoming a multifamily project.

He said they have already spoken to various developers considering mixed-use projects for the site, including retail, restaurants and even potentially a hotel on top of multifamily. Others have discussed more traditional multifamily projects. Given the demand for waterfront property in Tampa Bay, Carriera said condominium developers may also be interested in the site.

The property is 12 minutes from Clearwater Beach and is 20 minutes from downtown Tampa. St. Petersburg’s Gateway business district is 10 to 15 minutes from the site, and the Bayside Bridge connecting Clearwater to St. Pete is roughly half a mile away.

“Part of what is so noteworthy and interesting of its history is how sought after this site has been for decades by developers wanting to get their hands on this site,” Thavis said. “We’re speaking to developers about the opportunity to build something here, and there’s so much excitement it’s available now. There are projects people have wanted to build here for decades, and one of them will finally come to fruition.”

The property is comprised of two parcels that Allan Stowell had assembled. Stowell owned the site for the past 40 years; he died in January. Carriera knew Stowell and said he had “very big plans” to develop or codevelop the property with a developer.

“Having known Allan, he was very proud of this site and rightfully so,” Carriera said. “We’ve been hired to find the right group that will continue his legacy and see the project through he’s always wanted to build.”