2750 34th St S, St. Petersburg, FL 33711

PROPERTY DESCRIPTION

Prime 3.86 +/- acre development site in the heart of St. Petersburg that offers immense opportunity to add value. The site's strategic location offers unparalleled potential for a high-density, single or mixed-use development in a strategic location with exceptional visibility from the major travel corridors: I-275 and 34th St S (US-19), as well as ingress/egress off of 34th St S (US-19). With direct frontage along 34th Street S/US-19, the site also provides easy convenient access to both northbound and southbound lanes of I-275.

DYNAMIC RE-DEVELOPMENT OPPORTUNITY

Preliminary architectural test fits (in concert with Design Style Architects and the City of St Petersburg) indicate a substantial high-density multifamily development potential of approximately 316 units. This density is based on using either SB328 - Live Local Act (LLA) or Section 17.5 of the City of St Petersburg Code, with the potential for up to 82 units per acre in a 7+ story building. The property's proximity to RC-1 Activity Center Zoning and development regulations appear support these re-development potentials for the site - thus making it an ideal opportunity for a high-density single or mixed-use project. Don't miss out on this exceptional re-development site that offers a unique opportunity to create a landmark project that will make a mark on this quickly morphing and burgeoning area.

CURRENT SITE CONDITIONS

The site is currently developed with a small church building on one parcel and is vacant land on the other. The site's limited existing structures and utilities on-site should prove to be advantageous in creating efficiencies for a redeveloped site.

ZONING - TWO VETTED PATHWAYS

LIVE LOCAL ACT (SB 328)

Qualification – at least 40% of the units must be 120% AMI or less (120% is $2,149 for 2024 in Pinellas County for 1 Bed Unit). Density - determined by the highest base density in the municipality (4.0 FAR under DC-C zoning – with a 50% bonus applied under the LLA). This produces a maximum density of 6.0 FAR. Height – given that there are not 25 continuous homes on any side of the property, height is determined by the highest zoned height within 1 mile (which the City recognizes as RC-1 with an activity center overlay). This provides for 72’ of height. Additional 12’ of height may be available if the structure is elevated over surface parking.

Section 17.5 of the City of St Petersburg Code

https://library.municode.com/fl/st._petersburg/codes/code_of_ordinances?nodeId=PTIISTPECO_CH17.5HOAS

DRAINAGE EASEMENTS

Preliminarily conversations with the City of St Petersburg indicate that the drainage easements can be handled as a part of any well thought out site plan, and as long as those changes are adequate, the City would likely support the same, thereby unifying the 2 parcels into one.

RE-DEVELOPMENT PRELIMINARY TEST FIT

Preliminary architectural test fits indicate a substantial high-density multifamily development potential of up to 316 units (using either SB328 – Live Local Act (LLA) OR section 17.5 of the City of St Petersburg Code, with the potential for up to 82 units per acre in a 7 story+ building. Test fit plans with various options can be provided upon request, or modified with the architects in short order.