A developer has submitted plans to build a 381-unit apartment complex in the Gateway area of north St. Petersburg, despite the property’s employment center zoning.
Pinellas County property records state that a limited liability company purchased the site at 11101 Roosevelt Blvd. N. for $0 in September 2023. Documents obtained by the Catalyst show that a developer inquired about the redevelopment’s potential impact and sewer connection fees in November 2024.
A city proposal dated March 31, submitted on behalf of Atlanta-based Wood Partners, notes the development firm has sought approval to build the project, Alta Roosevelt, through Florida’s Live Local Act. The legislation, established in 2023, incentivizes the construction of affordable and workforce housing.
The law allows developers to circumvent local zoning restrictions if they dedicate at least 40% of residential units to households earning up to 120% of the area median income (AMI), currently $125,160 for a family of four in St. Petersburg. While those rent thresholds often exceed market rates, Live Local projects must offer a discount.
For example, the state would allow a Pinellas County developer to charge $3,255 monthly for a three-bedroom apartment at 120% AMI. If that surpasses 90% of the average market cost, as proven through a study, they must offer the lesser amount. About 152 of Alta Roosevelt’s units, 40%, will have that income limit for at least 30 years.
In a Nov. 18 email, Tom Whalen, transportation planning coordinator for the city, wrote that “multifamily is listed as ‘grandfathered’ in the use permissions and parking requirements matrix” for employment center zoning. He asked Adrian Shaw, urban design and development coordinator, if the project was allowable.
Whalen also noted that the 11.57-acre property currently houses a “large office building.” A previous owner demolished one of the original office buildings and converted the land into a surface parking lot.
The site is within a Coastal High Hazard Area, and Wood Partners pledged to incorporate at least two related design enhancements required by city regulations. If approved, Alta Roosevelt will feature a five-story building and a three-level parking garage.
“The proposed unit count reflects the highest feasible density that remains financially viable and compatible with the surrounding environment, considering current market conditions,” states the proposal.
In a Nov. 14 email, Robert Moss, development manager for Orlando-based Eastwind Development, asked if the city offered impact fee and utility connection credits for the roughly 215,000-square-foot office building. Whalen replied that the developer must pay a $1,420 per unit multimodal impact fee.
However, the city would offer a $2,323 credit per 1,000 square feet for the existing building. That equates to about $500,000. Administrators also charge a $600 sewer connection fee for each new restroom, which could increase to $1,000 in October.
Whalen also noted that the city, unlike neighboring Hillsborough County, lacks impact fees for schools, police and other municipal services. Bankers Financial Group leases the property’s existing building and will relocate to downtown St. Petersburg. The campus sold for $22.3 million in December 2002.
Alta Roosevelt will feature 655 parking spaces, including the current 519-space garage. Wood Partners plans to build 267 one-bedroom units and 104 two-bedroom units, and 10 apartments will feature three bedrooms.
According to its website, Wood Partners has developed over 79,000 homes with a combined value topping $14.1 billion. The firm’s local portfolio included Alta Gateway, Alta Clearwater and Alta Belleair, each of which it later sold.
This content provided in partnership with StPeteCatalyst.com
