TAMPA — Two major apartment projects — one in downtown St. Petersburg, the other on the water in Tampa’s Gandy Boulevard area — could start construction next year.
The Miami-based Related Group, one of Florida’s leading residential developers, announced Monday that it expects to close next week on the site of a proposed 15-story, 354-unit apartment building at 801 Central Ave. in St. Petersburg’s burgeoning Edge District.
On the Tampa side of the bay, Related is planning a four-story, 396-unit project just south of Gandy Boulevard and west of West Shore Boulevard.
“We are strong believers in (the Tampa metro area) and we want to be there for the long run,” said Steve Patterson, head of Related’s rental division. “There’s been great job growth, great population growth, property values are rising, it seems to be attracting young people into the urban cores both in St. Pete and Tampa — a lot of those things demonstrate demand for the right type of resident.”
Dubbed Town at Westshore Marina District, Related’s Tampa apartments will be on 8 acres of a 52-acre site once planned for a grandiose development called New Port Tampa. That collapsed during the recession, and in 2015, BTI Partners of South Florida acquired the property. It has been marketing parcels to developers like Related.
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