The Real Deal Miami

High-rise with 100 residential units proposed for downtown St. Petersburg site

The owners of the development site near the city's Sundial district may sell it to another party
August 12, 2018 04:30PM

Bill Edwards (Credit: Kathleen Cabble | Tampa Bay Business Journal)

Real estate investor Bill Edwards proposed a 25-story, mixed-use building in downtown St. Petersburg through a company he runs.

His company Loan Ranger Acquisitions filed an application with St. Petersburg’s municipal government to build the mixed-use high-rise.

Loan Ranger paid $1.05 million six years ago for part of the development site at 232 Second Street North, near a shopping and entertainment district called Sundial.

Attorney R. Donald Mastry, who filed the development application on behalf of Loan Ranger, told the Tampa Bay Times that the owners of the St. Petersburg site plan to sell it to another party that would develop it.

The proposed building would have 100 residences, 218 parking places and 7,000 square feet of first-floor commercial space, plus a swimming pool and other amenities on the seventh and eighth floors. Unspecified in the application is whether the residences would be condos or rental apartments.

The proposed building is the latest in a series of developments in the area around the Sundial shopping and entertainment district. Directly north of Sundial, an 11-story hotel called Galaxy is under construction.

Four years ago, Edwards sold a city block south of Sundial that is now the location of a new Hyatt Place hotel and a nearly finished 41-story condo called ONE St. Petersburg. [Tampa Bay Times] – Mike Seemuth