Coquina Key Development Takes Another Step Forward 

The developers of Coquina Key Plaza, Stoneweg, have taken one more step towards making the development project a reality. The St. Petersburg City Council approved a two-part item for the development agreement and a zoning change from corridor commercial suburban to commercial. The development had previously received approval from the St. Petersburg City Community Planning and Preservation Commission. This is the first reading before the city council, another is needed for final approval.  Under language in the approval, Stoneweg will work with the city to define commercial users.  The strip mall in St. Petersburg would make way for a new mixed-use development that would include retail and workforce housing under proposal by a developer.  Stoneweg US, the real estate investment company that purchased the property in March 2021, plans to construct 465 apartment units that will include workforce housing and a minimum of 20,000 square feet of retail space.  The property is located in south St. Petersburg, the existing buildings would be demolished prior to construction starting.  A second public hearing is scheduled for September 29.

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