Why this investor is bringing micro units to St. Pete

Local developer Robert Ritzenthaler, president of real estate firm REM Capital, is seeing how the soaring rental rates for apartments downtown are pushing some residents out of the city - but, he says, the development of micro units can help solve the intensifying issue.

Densely populated metros have embraced the micro-units concept as the tighter square footage results in lower rental rates for tenants who want to live and work in the city.

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Downtown St. Pete has a construction conundrum

A plethora of shops and restaurants continue attracting people to downtown St. Petersburg, increasing the need for more condominiums and other establishments; the ensuing construction, however, impedes access for residents and visitors.

Scaffolding and barriers rerouting sidewalks and bike lanes across busy thoroughfares present a safety hazard, as does the potential for falling debris. Conversely, residents and visitors have new places to frequent and live, and business owners see their potential customer base expand once the dust clears.

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