A new multifamily building has been proposed for the EDGE District in downtown St. Pete.

Belpointe, which invests in opportunity zones, closed on 1.6 acres at 1000 1st Avenue North for $12 million back in October 2020. The site is currently home to two vacant office buildings, two surface parking lots and the former Shirley Ann Hotel, which has been vacant for three years. 

On the site, Belpointe has announced plans for a development, tentatively being referred to as 1000 1st Avenue North, featuring two, 15-story apartment towers with a combined 256 rental units. The 11-story residential buildings will sit atop a four-story base that will contain 23,000 square feet of ground floor retail and 4,400 square feet of space for a leasing office and two resident lobbies.

Currently, a majority of the retail space fronts 1st Avenue North, however Belpointe has expressed flexibility if the retail would be better suited for Baum Avenue. The 2017 EDGE District Master Plan suggests that Baum Avenue, which stretches from Dr. Martin Luther King Jr. Street to 13th Street, could be developed into a vibrant pedestrian-only corridor in the future.

On the corner of Baum Avenue and Dr. MLK Jr. Street, Belpointe plans to add a pocket park with shade trees and outdoor seating. Adjacent to the park will be nearly 130 feet of retail storefront along Baum Avenue.

While Baum Avenue is largely seen as an alley today, Belpoint has committed to working with the city to relocate dumpsters used by businesses along Baum into a centrally located compactor at the new development. This will make Baum more aesthetically pleasing and will open the block for more vehicular parking.

Floors two through four of the residential buildings will not only provide ample parking for residents and retail customers but could also service the neighborhood as well. Current plans call for around 460 parking spaces.

Floor five will feature residential units with large private terraces along with indoor amenities, an outdoor pool deck, and a landscaped courtyard. Levels 6 through 14 will contain 24 residential units per level, or 12 per building, with private balconies and large windows. On the 15th floor will be a south facing roof deck offering residents unobstructed views of St. Pete.

At a height of 150 feet, 1000 1st Avenue North is consistent with similar projects in the area. Icon Central, located one block east at 855 Central Avenue, is approximately 50 feet taller. And a 209-unit apartment building which was recently proposed for 900 Central Avenue, one block south, will be approximately the same height. Just west of the site is the proposed Balm Hotel, a Marriott Tribute property, which will be 125 feet tall.

While the project’s height may seem imposing, the development is designed with the pedestrian in mind. With setback towers, the base of the building is more pedestrian in scale and features a façade that incorporates awnings, canopies, and 30-foot arches. Large artistic murals will also adorn the building — a tribute to the EDGE District’s arts scene. Belpointe has committed to working with local artists to create the public art on site. 

The project will also include two mid-block paseos which will give pedestrians access between 1st Avenue North and Baum Avenue, providing a crucial connection to the rest of the EDGE District.

Residential units at 1000 1st Avenue North are expected to be larger in size -- about 20% larger than units at Icon Central. With more spacious units, the apartments are likely to appeal to a broader group of residents including empty nesters or those downsizing from single family homes and seeking an urban lifestyle.   

On the east side of the project’s site, Belpointe is currently under contract to purchase an additional 0.25 acres at 900 1st Avenue North which houses Engine No. 9, a burger joint, and Blue Goose, a popular local bar. Belpointe hopes to renovate the building and keep the tenants in place — they are even in early talks with Engine No. 9 for an expansion.

Before construction can begin, 1000 1st Avenue North will need to go before the Community Redevelopment Agency for approval as consistent with the Intown West Redevelopment Plan. Although a construction timeline is unknown, the building is not expected to be completed until 2023 at the earliest.