The Cara Apartments has met its end in St. Petersburg, Florida. Erected in the 1920s, the property was not viewed as historically significant by the City of St. Petersburg. So, it was demolished this past week for new development. The 0.94-acre site was previously home to six unoccupied buildings.
Now, the site could be redeveloped into a 23-story residential tower. Out-of-state developers Ault Global Real Estate Equities (AGREE) and Schock and Haywood Development purchased the site for $15.5 million in 2022, per the St. Pete Catalyst.
The complex above was demolished to make way for the new venture.
The unnamed complex could host 285 apartments, along with 10,000 retail space. The complex will also feature 585 parking spots; 303 for bicycles, 282 for motor vehicles in a parking garage.
Per St. Pete Rising, a construction timeline on the high-rise hasn’t been announced. This isn’t the first plan that’s been proposed for the build site. In 2019, then-owner Inland National Development planned to redevelop the Cara Apartments into a 270-unit, 21-story tower with ground floor retail.
The project would be located in St. Petersburg.
Yet, that project never took shape. The 23-story high-rise is slated for 450 3rd Avenue North, St. Petersburg, Florida, 33701, in Pinellas County. It will lie east of I-275 and west of the Tampa Bay.
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