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More developments planned in downtown St. Pete
With the possibility of a new stadium for the Tampa Bay Rays, which would be surrounded by an entertainment complex, more developers are revealing plans to build in the area.
ST. PETERSBURG, Fla. - While the future of Tropicana Field is still up in the air, the promise of a new multi-billion dollar stadium and surrounding district is spurring more redevelopment in St. Pete.
The latest redevelopment project just submitted its plans to the city this week. Even though a new stadium deal hasn’t been secured, it's inspiring investments all around the city.
"We're going to create an area that is truly walkable urban retail that doesn't exist here. That’s what I'm most excited about. I want to make something where you park your car and hang out all day," said Cole Sones, a partner at Blake Investment Partners which is planning to transform 4.5 acres along 31st St. South and 1st Ave South where the Jim and Heather Gills YMCA sits.
BLAKE is buying land from the Y and building a mixed-use community called Whitney Village, with the YMCA as the cornerstone.
It will include 325 apartments, shops and restaurants, outdoor space and 50 affordably priced units.
The new development sits five minutes away from where the Rays are trying to secure a multi-billion dollar redevelopment agreement.
"The vision that they put forward gives everybody confidence to invest in that area because they know it's coming. It might take five years or ten years or whatever it ends up being, but there will be development there," said Sones.
For its part, The Y said it will use the money from the sale for its own revitalization as it becomes the cornerstone of the project, modernizing the facility and featuring various fitness options.
Everyone who lives at Whitney Village will get a YMCA membership.
READ: St. Pete council grills city, Rays over stadium development
"We're super excited about what we're doing with the YMCA because they're building a facility effectively where we can have concerts, we can have a farmer's markets," said Sones. "I do think the Trop is a huge catalyst for the area and I think that it's important for the city, because it creates a central area for this town. I think it kind of bolsters the idea that St. Pete isn't necessarily Tampa’s, little sibling anymore."
BLAKE submitted its plans to the city this week with the hopes of breaking ground early next year.
They are still taking inquiries to find the right, unique tenants.
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