Sky Town Development Greenlit in St. Petersburg

News Summary

St. Petersburg is set to welcome the Sky Town development, following a $5.5 million investment from the Pinellas County Commission. Featuring 401 apartments, including 121 affordable units, the project will kick off in March 2025 at 3201 34th Street South. Aimed at creating a vibrant mixed-use community, it will also include extensive retail and office space to enhance local living. The integration of affordable housing reflects a collaborative effort, with additional features like a Sprouts Farmer’s Market expected by late 2025.

Exciting New Development on the Horizon: Sky Town is Coming to St. Petersburg!

Residents of St. Petersburg, get ready for some fantastic news! The Pinellas County Commission has just given the green light for the first phase of the Sky Town development, with a hefty investment of $5.5 million. This is set to be a major residential project that not only adds new housing to the area but also incorporates critically needed affordable housing options!

Breaking Ground Soon in Skyway Marina District

The buzz around town is that construction for Sky Town is anticipated to kick off in March 2025. Located right at 3201 34th Street South in the vibrant Skyway Marina District, this project’s first phase will introduce a total of 401 apartments to the community. Out of these, 121 apartments have been earmarked as affordable housing—an important step in addressing the needs of residents.

A Vision for the Future

The masterminds behind this exciting project are the folks at Coral Gables-based Altis Cardinal. They have big plans for Sky Town, aiming to develop a mixed-use community that will ultimately feature a whopping 2,084 apartments spread across six five-story buildings. That’s a whole lot of new homes!

What to Expect in the Development

In addition to residential units, Sky Town is set to include an impressive array of amenities. Picture this: over 80,000 square feet of retail space where you can shop till you drop, along with 22,500 square feet of office space for local businesses to thrive. And let’s not forget about parking—there will be 4,000 parking spaces available to accommodate all the new residents and visitors. Plus, for anyone needing extra storage, the development will boast 119,160 square feet of self-storage space. Talk about convenience!

Affordable Housing Provisions

60 units will be designated for households earning up to 80% of the Area Median Income (AMI), while 61 units are set aside for those earning up to 120% of AMI. The remaining 280 units will be available for rental at market rate. There’s also a land use restriction agreement in place to ensure these affordable units remain accessible for the next 30 years.

Funding Considerations and Future Plans

It’s worth mentioning that the county’s funding is dependent on the City of St. Petersburg approving an added $4.5 million in February 2025. Developer Frank Guerra highlighted that the integration of affordable housing in this project was significantly influenced by collaboration with both county and city officials.

Additional Features Coming Soon

Oh, and for those who love fresh groceries, there’s more good news! A Sprouts Farmer’s Market is already in the works right on-site and is expected to open its doors by October 2025. Each construction phase of Sky Town will be staggered to make moving in a seamless process, with the first residents expected to start moving in by September 2026.

A Project to Watch!

Did you know that this project represents the largest development in St. Petersburg outside of the Tropicana Field redevelopment? And let’s not forget the nine-story office building, once the headquarters for Ceridian, which will remain part of the site. There’s so much excitement in the air as Sky Town gears up to transform the community!

Stay tuned, St. Petersburg! With Sky Town on the way, it seems there are plenty of reasons to be optimistic about the future of housing and living in our beautiful city.