Skyview 34

Highlights:

• - Prime Location: Strategically positioned on a major thoroughfare connecting St. Petersburg to Bradenton, Sarasota, Tampa and the Beaches via main travel arteries, this site enjoys both amazing visibility and ease of accessibility.
• - Skyway Marina District: The surrounding Skyway Marina District is undergoing significant revitalization, with new residential, commercial, and recreational developments transforming the area. This growing demand for housing makes this site an ideal location for a multifamily project.
• - Nearby Amenities: Residents will have easy access to a variety of amenities, including numerous waterfront dining, shopping, entertainment, and recreational activities. The nearby marina offers boating and fishing opportunities, while the Beaches and Downtown are just a short drive away.
• - Strong Rental Demand: St. Petersburg is experiencing strong rental demand, driven by a growing population, job market, and tourism industry. The Skyway Marina District, in particular, is attracting young professionals, families, and retirees seeking a vibrant and convenient lifestyle.
• - Favorable Zoning Treatment: The property is zoned for multifamily development, streamlining the entitlement process and reducing potential development hurdles. Any project under LLA or 17.5 of the Code will receive priority treatment.
• - Recent Multifamily Developments in the Area: The success of recent multifamily developments in the area further validates the potential of this site. Projects like Skyway Lofts and The Addison Skyway Marina have seen strong occupancy rates and rental growth, demonstrating the high demand for quality housing in the area.

Description:

Prime 3.86 +/- acre development site in the heart of St. Petersburg that offers immense opportunity to add value. The site's strategic location offers unparalleled potential for a high-density, single or mixed-use development in a strategic location with exceptional visibility from the major travel corridors: I-275 and 34th St S (US-19), as well as ingress/egress off of 34th St S (US-19). With direct frontage along 34th Street S/US-19, the site also provides easy convenient access to both northbound and southbound lanes of I-275.

Dynamic Re-Development Opportunity:
Preliminary architectural test fits (in concert with Design Style Architects and the City of St Petersburg) indicate a substantial high-density multifamily development potential of approximately 316 units. This density is based on using either SB328 - Live Local Act (LLA) or Section 17.5 of the City of St Petersburg Code, with the potential for up to 82 units per acre in a 7+ story building. The property's proximity to RC-1 Activity Center Zoning and development regulations appear support these re-development potentials for the site - thus making it an ideal opportunity for a high-density single or mixed-use project. Don't miss out on this exceptional re-development site that offers a unique opportunity to create a landmark project that will make a mark on this quickly morphing and burgeoning area.

Current Site Conditions:
The site is currently developed with a small church building on one parcel and is vacant land on the other. The site's limited existing structures and utilities on-site should prove to be advantageous in creating efficiencies for a re-developed site.

The offering is an exceptional re-development site situated in the norther portion of the dynamic Skyway Marina District in St. Petersburg. This prime location offers a unique blend of coastal living, urban convenience, and strong investment potential. The 34th Street/US-19 is a major north/south artery serving the entire western coast of Florida, and locally connects Pinellas county to Manatee and Sarasota counties (via I-275) to the South as well as Pasco county to the North (via US-19).

Hillsborough county is also readily accessible (via I-275 or the Selmon Expressway) with immediate I-275 access in direct reach of the site. The US-19 major frontage artery is experiencing a significant amount of growth with new luxury apartments, including Sur Club, Marina Walk Marina Club, Skytown and the Addison Skyway Marina, which are attracting young professionals relocating to the area as well as those looking for living within quick reach of BOTH Downtown St Pete and the Beaches.

Strong retailers are also thriving in this market with major retailers such as restaurants, hotels, and shopping centers all long the 34th Street corridor. Additionally, new amenities, such as Sprouts and 92,000 SF of retail in the Sky Town development will only add to the desirability of the corridor. This area has become increasingly attractive due to its convenient access to all the major destinations in Pinellas, Hillsborough, Manatee and Sarasota Counties and access measured in mere minutes to Downtown St Petersburg, the Beaches, Airports and major travel arteries around the state.

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