Developer Sales
St. Pete Car Condos
Project facts
- Status
- Pre-Development
- Address
- Confidential
- City
- St. Petersburg, Florida
- Region
- Tampa MSA
- Submarket
- St. Petersburg; Clearwater
- Units
- 36
- Average unit size
- 900 SF
- Amenity tier
- Premium
- Key amenities
- Owners' Clubhouse/Lounge, 18'+ Clear Heights, 14'+ Roll-Up Doors, Gated Access & Security, Mezzanine Capabilities
- Construction
- Tilt Wall
- Finish level
- Luxury
- Flood zone
- X
Location Summary
St. Petersburg / Central Avenue Overview
The project site (address confidential) sits inside the Warehouse Arts District, the 58-acre maker and studio corridor a half mile south of Central Avenue in downtown St. Petersburg, where a 2024 SunRunner Target Employment Center overlay now permits mixed-use densities up to a 5.0 floor-area ratio. This is among the densest urban trade areas in the SCK footprint, with 253,743 residents inside five miles and a walkable, transit-served commercial spine rather than a highway-frontage industrial pocket. The immediate context is unusually active: the Grand Central District runs directly north of the site, and the 86-acre Historic Gas Plant District redevelopment, now advancing without a ballpark, sits about one mile northeast.
Access is a core advantage. Interstate 275, the primary north-south artery connecting St. Petersburg to Tampa and the beaches, passes within roughly a mile of the site, while the Central Avenue corridor a half mile north carries the region's flagship transit line through the trade area. Florida levies no state income tax, and the Tampa to St. Petersburg to Clearwater metro of roughly 3.4 million continues to sustain strong in-migration, reinforcing durable end-user demand for a discretionary, downtown-proximate suite product.
Current Events & Infrastructure
- Gas Plant redevelopment, about 1 mile northeast: The 86-acre Historic Gas Plant District is being redeveloped as a mixed-use downtown extension, pulling investment toward the south-of-Central blocks that surround the site.
- Warehouse Arts District upzoning (at the site): The 58-acre SunRunner Target Employment Center overlay approved in September 2024 covers the district the site sits in, eliminating parking minimums and permitting densities to a 5.0 floor-area ratio, an entitlement tailwind for infill product on these blocks.
Key Demand Drivers
The trade area is defined by transit-linked, downtown-adjacent anchors that concentrate spending, employment, and daytime population within a short drive of the site. Each named driver below is non-competing and hyper-local.
- SunRunner bus rapid transit, a half mile north on the Central Avenue corridor: The SunRunner has carried 2,551,745 riders in its first three years, averaging 70,883 trips per month, built on a $21.8 million federal Capital Investment Grant.
- Halcyon office tower and ARK Invest headquarters, about 1.5 miles northeast at 1301 Central Avenue: Halcyon is an 11-story, 130,000 square foot Class A tower, the first new downtown office building since the 1980s, anchoring the 2.1-acre mixed-use development known as The Central and drawing ARK Invest's headquarters to the EDGE District.
- St. Pete Pier and downtown waterfront, about 3 miles east: The rebuilt $93 million, 26-acre pier generates an estimated $125 million in annual local economic impact and drew roughly 2.3 million visitors in a single measured year, sustaining the downtown visitor economy the corridor feeds into.
- ArtsXchange and the Pinellas Trail, at the site: The Warehouse Arts District's anchor studio campus and the regional Pinellas Trail sit within blocks, channeling the studio, maker, and residential development wave through the site's immediate streets.
Location Highlights
- MSA Position: The site anchors the St. Petersburg and Clearwater (Pinellas) corridor, the region's densest waterfront-wealth market and its most transaction-active SCK submarket, with a trailing-twelve-month median near $352 per square foot and a strong one-year gain of about 16.6 percent.
- Enthusiast / Collector Culture: A downtown-adjacent, affluent, and design-conscious ownership base supports a Standard-Tier suite concept, with 10.9 percent of five-mile households already keeping three or more vehicles.
- Infrastructure & Recreation: The SunRunner on Central Avenue, the St. Pete Pier, and continued downtown waterfront investment give the corridor a walkable, amenity-rich profile uncommon among comparable urban submarkets.
- Market-Specific Factor: The trade area follows an urban, downtown-adjacent redevelopment pattern (Gas Plant, EDGE, Grand Central, Warehouse Arts) rather than suburban greenfield growth, favoring infill formats and premium finish over sheer land area.
- Tax & Quality of Life: Florida's absence of a state income tax, a median age of 44.9, and a 38.2 percent share of residents aged 55 and older combine to support discretionary lifestyle spending and second-property ownership.
- High Net Worth Concentration: Household wealth deepens with each ring, from 6,133 households earning $200K or more within three miles to 13,254 within five miles and 18,032 within seven miles, a concentration that underpins the site's 5.9 portfolio-relative wealth index.
Area Demographics (ACS 2024)
5-Mile Profile: Population 253,743 | Median HH Income $73,431 | HH Earning $150K+ 19.3% | Median Age 44.9 | Age 55+ 38.2% | Seasonal Units 6.4% | Households with 3+ Vehicles 10.9% | YoY Population Growth not reported (ACS 2024)
Wealth Index: 5.9 / 10 (SCK portfolio-relative)