$115 million mixed-use tower to break ground near Tropicana Field
By Breanne Williams
Tampa Bay Business Journal
Published: Jan 3, 2024

Two Miami-based companies have formed a partnership to develop a $115 million mixed-use tower in downtown St. Petersburg.

Commercial real estate investment firm Black Salmon and real estate investment, development and design firm LD&D have purchased a 0.77-acre site from Apogee Real Estate Partners at 155 17th St. S. The group closed on the property on Dec. 22 for $9.05 million, according to a deed filed in Pinellas County.

St. Petersburg-based Apogee previously proposed a 23-story tower with more than 200 apartments on the property.

"We made changes to Apogee's previously approved plans, which we submitted to the city last year and were approved shortly after we closed on the land," Diego Bonet, managing partner of LD&D, told the Business Journal. "We will be developing a 23-story building comprised of 253 units complemented by ample amenities that go beyond Gallery Haus' 5,000 square feet of retail."

LD&D’s plans will also feature more than 10,000 square feet of amenity and coworking space. Gallery Haus, as the project is named, is slated to break ground in the fourth quarter of 2024.

“The Tampa Bay area of St. Petersburg continues to evolve, and we are proud to be a part of the city’s next era, positively serving new residents who desire to live here,” Bonet said. “This project illustrates our continued commitment to the growth we’re seeing, especially in St. Petersburg, where relocation rates are 20% higher than the national average. Young professionals who work from home are actively pursuing areas with lower living costs and enhanced overall satisfaction in living standards.”

Gallery Haus was designed by Baker Barrios Architects. It is located on the Pinellas Trail and is adjacent to Vertical Ventures and the upcoming redevelopment of the Historic Gas Plant District, which is home to Tropicana Field.

“The acquisition of this land parcel is a milestone in our partnership with LD&D as we continue our collective commitment to crafting residences that seamlessly blend luxury, innovation and community,” Camilo Lopez, managing partner and co-CEO of Black Salmon, said in a release. “This project represents our dedication to cultivating spaces for modern living in dynamic environments that resonate with evolving cities like St. Petersburg.”

LD&D is also planning a $200 million mixed-use project in Tampa in the Encore district.