Downtown St. Pete adds over 1K residential units, while units under construction drop by half
By Emma Behrmann
Tampa Bay Business Journal
Published: Feb 25, 2026

Downtown St. Petersburg’s development pipeline is growing, but fewer projects have broken ground over the last year.

The St. Petersburg Downtown Partnership’s annual development guide shows continued interest from developers, with about 6,600 proposed residential units, up from the last two years, but fewer than 1,000 units under construction, down more than half from recent peaks. The numbers point to slower construction starts — amid higher interest rates, rising construction costs and flattening rent growth — even as new proposals continue to climb.

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