St. Pete Rising: 24-story, 373-unit apartment tower prepares to break ground in downtown St. Pete

A Chicago development team is preparing to begin construction on a 24-story apartment tower in downtown St. Pete, bringing 373 apartments, ground-floor retail, and a rooftop lounge to a site just steps from Central Avenue.

Focus is actively conducting early groundwork testing at 275 5th Street South as it moves toward construction of its first project in the local market.

The project has been years in the making. 

While Focus purchased the 0.92-acre property from Tampa-based investment firm EquiAlt in a $20.25 million transaction in 2023, rising interest rates and a challenging capital environment slowed multifamily development projects across the country.

Finally, the project is moving ahead.

Read the full story from St. Pete Rising.