275 5th Street is a Class-A, mixed-use development strategically located in the heart of the central business district (CBD) in St. Petersburg, Florida. The project will feature approximately 367 residential rental units and approximately 6,000 square feet of retail. The project benefits from being two blocks south of Central Avenue and steps from St. Petersburg pristine waterfront along Tampa Bay. Additionally, the project has 100’ of frontage along 6th Avenue South, a main thoroughfare where I-175 terminates into downtown. This level of access in the heart of the St. Petersburg CBD offers extraordinary exposure in one of the fastest growing cities in the US.
The Downtown St. Petersburg submarket is home to the city’s central business district and caters to high-demographic lifestyle renters. With unmatched walkability, a vibrant nightlife, abundant cultural and entertainment attractions, pared with a strong employment base, Downtown St. Petersburg has emerged as one of the region’s most desirable residential destinations for renters seeking a dynamic urban experience.
Construction on the 24-story, 511,509 GSF tower is slated to begin in the first quarter of 2024, with completion in early 2026. The combination of strong demographics, dynamic growth of the downtown St. Petersburg market, and the favorable development fundamentals will position 275 5th Street as best-in-class.