Done Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
Have real estate news to share? Send us an email at hello@stpeterising.com.
Read MoreThe City of St. Pete is in discussions to sell a 1.53-acre city-owned property near the future Historic Gas Plant District redevelopment in downtown St. Pete.
Third Lake Partners, which was established by Ashley Furniture founder Ronald Wanek, is expected to purchase the property at 298 Dr. Martin Luther King Street South from the City of St. Petersburg for $10 million.
The property is situated east of Tropicana Field and directly west of United Property Insurance's (UPC) former headquarters building, which Third Lake Partners bought in 2022 for $10.5 million.
Read MoreIt's official - The Tampa Bay Rays have secured local government funding for a new $1.37 billion baseball stadium in a deal that will keep the team in St. Petersburg for decades to come.
In a 5-2 vote on Tuesday afternoon, Pinellas County Commissioners approved contributing $312.5 million of tourism tax revenue towards the construction of the stadium.
The tourism tax revenue is generated by a bed tax restricted to funding tourist-related development such as hotel expansions and other projects driving economic prosperity.
Read MoreFlexible language around promises to bring affordable housing to the area and the lack of transparency on the Tampa Bay Rays partnership agreements are at the top of city council members' minds.
St. Petersburg City Council members met as the Committee of the Whole (COW) Tuesday morning to analyze the details and recent tweaks made to agreements for both the proposed Rays stadium and the Historic Gas Plant redevelopment just two days before they cast their final vote.
The $6.5 billion development, which is being spearheaded by The Rays and Hines, would transform 86 acres in the heart of downtown St. Pete into an 8-million-square-foot mixed-use district anchored by a new ballpark - becoming the largest project to ever commence in Tampa Bay.
Read MoreDone Deals is a weekly column by St. Pete Rising spotlighting recent real estate market insight and significant deals happening in the Sunshine City and beyond. The following information is sourced from public records and trusted intel.
Have real estate news to share? Send us an email at hello@stpeterising.com
Read MoreSt. Pete Rising is an online urban development publication covering retail, restaurants, and real estate news in St. Petersburg, FL
