Make us your home page
Instagram

Miami developer plans implosion to clear way for multifamily project in downtown St. Petersburg

The 98-year-old Tropicana building in downtown St. Petersburg could be imploded this year to make room for a new residential and hotel complex.

Miami-based Tropicana Redevelopment plans to tear down the four-story, nearly 41,000-square-foot building at 25 Second St. N, across from Jannus Live.

The site had already been approved years ago for a multifamily project, and multifamily projects currently make up the hottest sector of commercial real estate throughout the Sunshine State.

"We feel the timing is right," vice president Jerome Hollo said. "We love the city and what has been done to the downtown area."

Tropicana Redevelopment, part of Florida East Coast Realty, bought the building in 2001 for $4 million. The 60-year-old real estate firm specializes in urban high-rise buildings.

Hollo doesn't know the cost of the new project as plans are still being tweaked. He described the development as "very large." The building is the only property the firm owns in the Tampa Bay area.

Tenants in the building were told in March to leave by the end of May so the building could be prepared for demolition. The remaining tenants are in the process of moving out, Hollo said.

The firm has not yet sought demolition permits.

Mark Puente can be reached at mpuente@tampabay.com or (727) 893-8459. Follow him on Twitter at twitter.com/markpuente.

Miami developer plans implosion to clear way for multifamily project in downtown St. Petersburg 05/25/12 [Last modified: Friday, May 25, 2012 11:13pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Tampa man pleads guilty to forging check for fake investment

    Personal Finance

    A Tampa resident was convicted Thursday for forging a check for a fake investment. The Florida Office of Financial Regulation said that Eric Franz Peer pleaded guilty. He served 11 months in jail and will have to pay $18,000.

  2. Minority business accelerator launch by Tampa chamber to aid black, Hispanic businesses

    Business

    A "minority business accelerator" program was launched Thursday by the Greater Tampa Chamber of Commerce geared toward helping black and Hispanic business owners identify and overcome barriers to grow their companies. The accelerator, known as MBA, will provide participants with business tools to cultivate opportunities …

    Bemetra Simmons is a senior private banker at Wells Fargo, The Private Bank. She is also chair of the new minority business accelerator program for the Greater Tampa Chamber of Commerce. [Photo, LinkedIn]
  3. Terrier Tri brings unique triathlon training to South Tampa

    Business

    Over a decade ago, Robert Pennino traded late nights in the music studio for early mornings in the Terrier Tri cycle studio.

    Terrier Tri, a cycling studio in South Tampa celebrates a grand opening on June 27. Photo courtesy of Tess Hipp.
  4. New bistro hopes to serve as 'adult Chuck E. Cheese'

    Business

    YBOR CITY — Inside Cheezy's Bistro and Speakeasy, a new restaurant opening in Ybor City, customers will find a mix of family recipes, games and secrecy.

    Cheezy's Bistro and Speakeasy readies to open in Ybor City. Photo courtesy of Cheezy's Bistro and Speakeasy.
  5. Ramadan having an economic impact on local charities, businesses

    Economic Development

    TAMPA — Dodging the rain, a few families and customers gathered inside Petra Restaurant on Busch Boulevard. Around 8:30 p.m., the adham (or call to prayer) music begins, signaling Iftar, the end of the daily fast. Customers grabbed a plate to dig into the feast.

    Baha Abdullah, 35, the owner of the Sultan Market makes kataif, a common dessert that is eaten during the month long celebration of Ramadan in Tampa. [OCTAVIO JONES   |   Times]