ARK Innovation Center, home to spARK Labs by ARK Invest<\/a>\u00a0in the Innovation District. That facility supports startups and entrepreneurs working in artificial intelligence, robotics, energy, blockchain and other emerging technologies.<\/p>\nDuckweed Urban Grocery would provide another distinctive feature. Access to fresh food has long been identified as a community priority in South St. Petersburg, making the proposed grocery one of the few full-service food offerings among the seven submissions.<\/p>\n
The remaining proposals place greater emphasis on affordable housing, hospitality or maximizing residential density.<\/p>\n
SkyView Companies proposes the largest residential development with 422 apartments, retail space and structured parking while offering to purchase the property for $1 million. Woda Cooper Companies, partnering with CDC of Tampa and the Urban League of Pinellas County, also proposes purchasing the property for $1 million while developing 160 mixed-income apartments with neighborhood commercial space and workforce services.<\/p>\n
The remaining four teams propose long-term ground leases rather than purchasing the property outright.<\/p>\n
Archway Partners proposes 169 affordable apartments with ground-floor retail. Magellan Housing would develop affordable apartments and townhomes with retail space and proposes Blind Tiger Coffee as a tenant. Blue Sky Communities and Habitat for Humanity combine affordable rental housing with homeownership opportunities. Zarius Properties, White Keys Real Estate and Homage Hospitality submitted the only hospitality-focused concept, pairing workforce co-living housing with a 160-room boutique hotel.<\/p>\n
The proposals also differ significantly in their financial structures and requests for public participation.<\/p>\n
Commerce Park proposal comparison<\/p>\n
Proposer
\nLand acquisition proposal
\nHousing
\nMajor components
\nPublic assistance \/ special requests<\/p>\n
HP Capital
\nPurchase for $5 million
\n320
\nARK Innovation Center, Duckweed Urban Grocery, Gateway Subs, office, retail, 25,000-SF public plaza
\nRequests adjacent K-9 parcel and right-of-way vacations<\/p>\n
SkyView
\nPurchase for $1 million
\n422
\nRetail, structured parking
\nRequests adjacent K-9 parcel through land swap<\/p>\n
Woda Cooper \/ CDC \/ Urban League
\nPurchase for $1 million
\n160
\nCommercial space, workforce services
\nRelies on affordable housing financing programs<\/p>\n
Archway Partners
\n99-year ground lease (about $45,700\/year)
\n169
\nGround-floor retail
\nOption to purchase property; relies on affordable housing financing<\/p>\n
Magellan Housing
\n99-year ground lease ($55,000 initial annual rent)
\n126 apartments, 6 townhomes
\nRetail, Blind Tiger Coffee, public art
\nRequests $610,000 for apartments and $1,200,000 for townhome assistance<\/p>\n
Blue Sky Communities \/ Habitat for Humanity
\n99-year ground lease ($158,375 annual rent)
\n75 apartments, 6 townhomes
\nRetail, Habitat homeownership
\nRequests $75,000 city contribution and conveyance of Habitat parcels for $10<\/p>\n
Zarius Properties \/ White Keys \/ Homage Hospitality
\n99-year ground lease ($100\/year)
\n45 co-living units (92 beds)
\n160-room boutique hotel, 8,000 SF retail
\nRequests city finance, own and operate a 250-space public parking garage<\/p>\n
Purchase proposals would pay the city upfront. Ground lease proposals spread payments over a 99-year lease term, generally without interest, while several also request additional public participation or financial assistance.<\/p>\n
The city\u2019s request for proposals emphasized mixed-use redevelopment that honors the history of the Deuces while maximizing commercial activity and mixed-income housing opportunities. The site has long been viewed as one of the most significant redevelopment opportunities in South St. Petersburg because of its location between the Deuces Live District, the Warehouse Arts District and the Innovation District.<\/p>\n
City officials will now evaluate the proposals before determining whether to enter negotiations with one or more development teams.<\/p>\n","protected":false},"excerpt":{"rendered":"St. Petersburg officials now have seven competing proposals to transform Commerce Park, a city-owned redevelopment site along 22nd…\n","protected":false},"author":2,"featured_media":320522,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[202,204,203,199,201,200],"class_list":["post-320521","post","type-post","status-publish","format-standard","has-post-thumbnail","category-st-petersburg","tag-st-pete","tag-st-pete-headlines","tag-st-pete-news","tag-st-petersburg","tag-st-petersburg-headlines","tag-st-petersburg-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/320521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=320521"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/320521\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/320522"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=320521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=320521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=320521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}