Despite the lack of an official master plan, documents obtained by St. Pete Rising suggest that more ambitious development is on the table. A geotechnical report for the site references a future hotel, although no details have been released and no application has been filed for such a use.

Residents and stakeholders believe the existing industrial buildings and marine service operations could eventually give way to a mix of retail, office space, residential units, and a reimagined marina, capitalizing on the area’s waterfront appeal and proximity to downtown.

A few years ago, Miami-based developer Royal Palm Companies was previously under contract to purchase multiple parcels along Salt Creek and promoted a 47.3-acre master-planned redevelopment featuring condos, affordable housing, hotel and conference space, and offices. While the deal didn’t materialize, it’s a sign of how appealing this corner of St. Pete is to developers.

The City of St. Petersburg is also eyeing Salt Creek for investment. City Council recently advanced plans to transform three acres of city-owned vacant land near Bartlett Park into a park and nature preserve, part of a broader $30 million effort to mitigate flooding and improve drainage in the Salt Creek and Lake Maggiore watershed.

Still, the potential for large-scale development in this low-lying, high-hazard coastal area has raised concerns. The Old Southeast neighborhood has traditionally supported working waterfront uses like shipyards, marinas, and boat storage. Many residents worry that unchecked redevelopment could displace the longtime businesses that have called Salt Creek home for decades.

As Prometheus continues to work behind the scenes, the full scope of what’s planned for their Salt Creek property remains to be seen. So far, some plans are coming into focus, but the company’s silence on an overarching vision has only fueled speculation.

With nearly $44 million already invested, and a portfolio stretching across some of Salt Creek’s most prominent waterfront parcels, it’s clear that Prometheus has big plan, whether its been made public or not.

For now, the future of Salt Creek is still forming. But one thing is certain: change is coming.