In 2020, Silver Sands LLC, which purchased the property in 2019 for $5.75 million, filed plans to redevelop the parcel into a 12-story mixed-use building.
Plans were later revised by Houston-based Dinerstein Companies, which proposed a 14-story development. The $58.1 million project called for apartments, including a portion set aside for workforce housing, along with hotel rooms, commercial space, and parking.
Dinerstein was under contract to purchase the site from Silver Sands GND LLC but never closed on the deal.
Since the redevelopment plans stalled, the building and surrounding block have begun to fill in with new tenants. Recent tenant announcements include wine bar Velvet Coupe, wine and floral concept Bouquet and Bordeaux, Central Express Vet, fitness concept Local Studio, women’s boutique Peach Pump, and Burg Nutrition.
Founded in 2009, BankUnited is one of the largest independent depository institutions headquartered in Florida. It holds more than $35 billion in assets and offers consumer and commercial banking services to individuals, small businesses, middle-market companies, large corporations, and institutions.
The bank operates roughly 60 branches and banking centers, with the bulk in Florida and additional locations in New York, Dallas, Atlanta, Morristown, New Jersey, and Charlotte, North Carolina.
In the Tampa Bay area, BankUnited currently has offices in Clearwater, Sarasota, and Tampa. The location will be BankUnited’s first branch in St. Petersburg.
“The Tampa region is a significant growth area across multiple business segments,” BankUnited Chief Operating Officer Thomas Cornish said last year when announcing a new center replacing the bank’s Westshore office in Tampa. “This move builds on our recent announcements of new corporate banking offices in Charlotte, North Carolina, and Morristown, New Jersey, and adds to the momentum of our growth in regions including Atlanta and Dallas.”
An opening date has not yet been announced.