Mixed-use office development with affordable housing proposed

The property, which is currently a surface parking lot, was once part of a $200 million mixed-use proposal that would have included a 75,000-square-foot Moffitt Cancer Center, a 30-story residential tower, and a 14-story hotel.

That proposal was ultimately rejected after St. Petersburg Mayor Ken Welch was unsatisfied with the amount of affordable housing provided in the development.

The latest offer to redevelop the block is from a joint venture by Property Markets Group (PMG) and Feldman Equities. The offer is a separate parcel from an unsolicited offer by Third Lake Capital for 1.5 acres fronting Dr. M.L.K. Jr. Street and 3rd Avenue South.

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Source: stpeterising.com

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