Developer Proposing Affordable Housing Community in Downtown St. Petersburg

Fort Lauderdale-based developer Alexander Goshen has made a proposal to the City of St. Petersburg to lease the property at 800 1st Avenue South and build an affordable housing community. The site is currently a parking lot. The developer submitted a letter of intent, which does not indicate the number of apartment units that would be included. In May, St. Petersburg developer Feldman Equities and national developer Property Markets Group (PMG) submitted an unsolicited proposal to the City of St. Petersburg for a mixed-use development on the site that would bring affordable housing apartment units, market rate apartments, Class A office space and ground level retail space along with a parking garage. Under their proposal the developers would purchase the land.  Since it is an unsolicited offer, Florida Statutes require the city to invite additional proposals from private developers. After reviewing the proposals, the city would decide whether to move forward with any of the proposals.

Photo: City of St. Petersburg 

View 800 1st Avenue South >>