Massive Mixed-Use Development Gets The Green Light In St. Petersburg’s Skyway Marina District

Skyway Village. Credit: Altis Cardinal.

St. Petersburg’s Development Review Commission has given the green light to an expansive mixed-use development slated for the Skyway Marina District. Spanning 34.3 acres, the project, known as Skyway Village, is a phased, master-planned endeavor. It involves the demolition of most of the existing 380,000-square-foot office park at 3102 34th Street South, to be replaced by a series of new mid-rise buildings featuring a blend of apartments and walkable community retail. Notably, a Sprouts Farmers Market is set to anchor the retail component. Initially reported by St. Pete Rising, the project was proposed for an underutilized office park, formerly housing Minneapolis-based Ceridian, known for its human resources software and services.

Skyway Village is being developed by Altis Cardinal Skyline 2, LLC, affiliated with Altis Cardinal, based in Coral Gables. The development includes 2,084 apartments, 80,920 square feet of retail space, 22,500 square feet of office space, 119,160 square feet of accessory self-storage space, and 4,000 parking spaces.

Skyway Village. Credit: Altis Cardinal.

One of the project’s key objectives is to recreate an urban grid by adding two avenues and two streets, forming the foundation for seven city blocks, each ranging from 3.5 to 5 acres. This new grid will incorporate on-street parking and retail spaces in the buildings fronting 34th Street. The Development Review Commission’s discussions revolved around concerns about increased traffic generated by the development and whether the proposed retail space was sufficient. Neighbors shared these concerns.

Developer Frank Guerra, Founder of Altis Cardinal, responded by commissioning a study to assess retail demand in the area. The study determined that the market could support 50,000 square feet of retail space, whereas Skyway Village offers over 80,000 square feet, including 59,320 square feet of interior retail space and 21,600 square feet of outdoor retail space.

Skyway Village. Credit: Altis Cardinal.

Following deliberation, the commission requested the developer add retail space to two additional buildings within the project (Site G and Site D) along the interior avenues to create a more traditional urban atmosphere.

Skyway Village. Credit: Altis Cardinal.

The retail component of Skyway Village will be anchored by Sprouts Farmers Market, with additional retail spaces and outdoor dining terraces surrounding the market. This project also incorporates green space that the Skyway Marina District will utilize for events. The new street grid will feature on-street parking.

Skyway Village. Credit: Altis Cardinal.

Skyway Village will be developed in phases based on demand, with traffic studies conducted before the start of each phase, as requested by the Development Review Commission.

Among the largest residential projects in development for St. Petersburg, this development takes advantage of the 2021 Florida Legislature’s Graywater Statute, allowing for increased density in developments meeting specific criteria regarding graywater reuse technologies. If 100% of units feature graywater reuse systems, density can be boosted by 35%. As a result, the developer is entitled to a 35% density bonus, raising the allowable number of units from 1,548 to 2,084.

Skyway Village. Credit: Trilogy Real Estate Group.

Construction will commence with the infrastructure and new street grid, followed by the multifamily buildings. The developer anticipates starting construction within the next year, well within the five-year approval window. The initial phase is expected to include Site B, housing the planned Sprouts Farmers Market, and a commercial out-parcel building, followed by Site C, comprising the multifamily and commercial building immediately south of Site B.

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