Innovation District Development Site
Land | 35,285 SqFt
Marketing description
Located within Downtown St. Petersburg’s rapidly evolving Innovation District, the site benefits from a growing wave of surrounding development and institutional investment. The highly visible corner along 5th Avenue South serves as a primary gateway corridor linking the Medical District to Central Avenue and the broader downtown core, while remaining within walking distance of Tropicana Field.
Surrounded by major hospitals, colleges, and downtown entertainment anchors, the area attracts a diverse mix of residents, professionals, and visitors. The 0.81-acre parcel offers significant high-density redevelopment potential under EC zoning, allowing building heights of up to 32 stories. Positioned in downtown’s most active submarket, the property presents an opportunity to participate in the continued growth and transformation of the Innovation District.
Investment highlights
- High density urban infill development site in the Innovation District—the city’s most active submarket surrounded by medical, educational, research, and downtown employment anchors the main
- Flexible zoning supports a wide range of development types, with the highest & best use favoring high density multifamily or for-sale residential with activated ground floor commercial
- Positioned on a prominent corner between two I-175 overpasses, the site offers excellent ingress/egress, strong visibility, and functions as a key gateway between the Medical District and Central Ave
- Walkable to Tropicana Field, Downtown St. Petersburg, major hospitals, and higher education institutions—driving demand from both long term residents and short-term users
- Vertical development potential enabling height, views, and scale within a supply-constrained downtown market
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