Land for Proposed Mixed-use Development in Downtown St. Petersburg Sold for $20.25 Million

Chicago-based developer Focus Development, Inc. has acquired land in downtown St. Petersburg from local developer Equialt for $20.25 million. According to Pinellas County records, Focus obtained a mortgage for $11.137 million from Lakeside Bank. Equialt has filed plans, which were approved by the St. Petersburg City Council, for a proposed mixed-use development that would add 335 apartments. The 22-story tower would also include 11,560 square feet of commercial space along with a 382-space parking garage. The plans call for a minimum of 5% of workforce housing units with a number of units under 750 square feet. There is a one-story office building and parking lot on the site that will be demolished.  The majority of the site will be taken up by the tower. On the ground floor, there will be a residential lobby, coworking space, fitness center, commercial space and entrance to the parking garage. There is a one-story office building and parking lot on the site that will be demolished.  The majority of the site will be taken up by the tower. On the ground floor, there will be a residential lobby, coworking space, fitness center, commercial space and entrance to the parking garage.

View 511 3rd Avenue South Apartments >>