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Developer revises $33 million Tierra Verde Marina plans
The existing marina is 40 years old and “showing its age.”
Greenleaf Capital hoped to make a splash by sinking $33 million into the Tierra Verde Marina’s future. The development firm has since updated its plans after encountering headwinds.
Tampa-based Greenleaf based its revisions, unveiled Wednesday, on extensive feedback from residents, the maritime community and City of St. Petersburg staff. The multi-phased project will feature a public restaurant and third-story bar, increase high-and-dry storage capacity to 711 racks and offer between 2,400 and 3,000 square feet of new retail space.
The existing dry storage facility will remain operational during the first phase; Greenleaf will add 236 new racks, bringing the total to 548. Former Mayor Rick Kriseman, who serves as the project’s spokesperson, noted the existing marina is 40 years old and “showing its age.”
“We’re looking forward to providing a real, first-class facility that upgrades what’s already there,” Kriseman told the Catalyst. “It provides a lot more opportunities for boaters and non-boaters than what currently exists.”
The project’s first phase features a new restaurant, bar, marina office and pool.
The City of St. Petersburg annexed 28 acres in Tierra Verde, including the marina, in 2008. Greenleaf purchased the property at 100 Pinellas Bayway South for $5 million in 2011, and Kriseman became mayor in 2014.
The marina currently features 314 high-and-dry racks within a 58,000-square-foot storage facility and 64 wet slips, which will remain unchanged. Green Leaf will demolish the site’s 24,000-square-foot shopping center and gas station.
The firm will build a waterside marina office, new retail space that could house up to three small “maritime-adjacent” businesses, an amenity building with an outdoor pool and lounge deck for members and a 2,581-square-foot restaurant, dubbed Harbor House.
Harbor House will feature outdoor balcony seating on the second floor, and a 2,465-square-foot bar will sit atop the restaurant. Kriseman said the establishment would help fill the area’s fine dining void.
He also noted that aesthetic upgrades would better align with the surrounding neighborhood’s architecture. However, the overarching goal is to revitalize the waterfront and support the local boating community.
“There are waiting lists at most marinas for people who want to high-and-dry their boats,” Krisman added. “It’s going to fill a desperately needed need.”
An expanded Tierra Verde Marina will become Florida’s second-largest boat storage facility. Pinellas County also has the second-highest number of registered boats, approximately 54,000, in the state.
The 2024 hurricane season displaced many boatowners and their vessels, increasing the need for storage options. A developer continues acquiring marinas and maritime facilities around Salt Creek, exacerbating the issue.
“I think you’re going to see a lot of folks in St. Pete who were looking for an alternative … some of whom may not even be back in their house yet from the storms,” Kriseman said. “I think this is going to be a very attractive option.”
He believes the marina’s location will entice boaters in Tampa, who can “store their boat here and be out in the Gulf in 15 minutes.” Kriseman said that would save time and fuel, which is better for the environment.
The project also includes a stormwater system that will double the current capacity. Construction will take place away from the waterfront and adhere to strict building standards.
Concerns, centered around building height and traffic impacts, persist. Greenleaf seeks a 15-foot height bonus to build the five-story, 90-foot-tall storage facility.
A Residence Inn across the street is 85 feet tall. Kriseman said a traffic study found that the demolition of the retail plaza and Shell service station would offset impacts from the redevelopment.
He added that daily shoppers are “much more frequently on the road” than boaters. The marina has averaged 13 boat launches per day over the past three years.
“I think it’s a fear they (opponents) have that is not factually based or bounded in what will be the reality,” Kriseman said.
The project’s second phase will bring a new five-story storage facility to the site.
Greenleaf added the retail and restaurant components after initially meeting with stakeholders. The developer has also changed the aesthetics “pretty dramatically” and increased the amount of landscaping.
Kriseman said Greenleaf subsequently changed the orientation of the bar and restaurant to minimize noise impacts on the adjacent neighborhood. “I think there is a really strong effort that this developer is making to address the concerns that the community has.”
Tierra Verde Watersports has offered public boat and jet-ski rentals for over 30 years and will continue operating from the marina. The Suntime and Freedom Boat Clubs and the Tampa Bay Pilots Association, which guides large vessels through the shipping channel, will also remain at the facility.
“When we purchased the marina in 2011, our goal was to preserve and strengthen its legacy as a landmark destination for the boating community,” said Dr. Michael Coffey, executive vice president of Greenleaf, in a prepared statement.
“This redevelopment is an exciting opportunity to modernize and enhance the property while expanding much-needed boat storage in St. Petersburg.”
Site work will commence following the City’s approval in December. Greenleaf expects to complete the first phase in approximately 18 months and begin the second, which includes the new storage facility, about two years later.
Nick Hiller
October 30, 2025at8:40 pm
Looks amazing! Let’s do something with this dilapidated property already. Only 5ft taller than the hotel across the street. Ppl advocating for retail space…the island couldn’t support it before, what makes us think it could now at higher rents!? Would love to see the detractors commit to operating a business in those spaces. Traffics not an issue, don’t buy the hype. I own a home right around the corner & would love to have a top notch marina in walking distance. This is a capitalist country, greenleaf bought it and has the right within code to do what they want with the property. Detractors should have bout it themselves if they wanted to control it.
Jeffrey Farrell
October 27, 2025at10:57 am
over 200 people showed up at a meeting to discuss this project. It was unanimous they strongly opposed the project. There was a petition with 1500 signatures that opposed closing all the current retail stores and the size of this Marina. The residents are opposed to the height and amount of boat racks the developer is planning. this will be the second largest marina in the US on a land area half the size as the largest. There are ordinances that speak about compatibility in surrounding communities. As you enter Tierra Verde this is the first thing you will see. Neighborhoods will be looking into boat racks 75 to 95 high. That is not compatible with our community. The developer claims this will not increase traffic onto an already congested area on weekends and holidays. They claim it will not. So, adding 700 racks won’t increase traffic is logical? Tierra Verde residents are strongly opposed to this Project no matter how the developer ” spins” the benefit. The only benefit is the pockets of the developer.
Frederick Thomas
October 27, 2025at9:47 am
TV resident also. Couple of observations, TV residents see the need for redevelopment, however jamming this much commercial boat storage on the parcel is too dense for the neighborhood. This area is the gateway not only to the Island but to Ft Desoto, so aesthetics matter. If this goes through, the marina right across the street will most likely follow suit, since their dock is much more suited for the application given its protected harbor. Much has been reported about the loss of 1 of 2 gas stations on the island and the remaining gas stations footprint is so small it cannot accommodate trucks with larger boat trailers. Lastly, who would ever pay to have their boat stored in a building that is opened to the elements. The whole idea is to protect your boat. Can you imagine what happens when a hurricane rips through this poorly designed building? The setbacks look extremely tight and I would argue if we had a hurricane the chances the debris from this project would likely impede the bridge and Pinellas Bayway.
William Gale
October 27, 2025at9:38 am
MONSTROSITY (40 year resident)
Dale Haagenstad
October 27, 2025at8:30 am
We need things like Jolly Roger and a gas station and our old hardware store not fine dining stuffed into that space next to a Bald Eagle nest.
Hugh Hazeltine
October 26, 2025at1:16 pm
At this site, a developer should heed Mr.Fabrizi’s advice. This location suffers from the water current switching each time the tide comes in or goes out. In addition, it has no breakwater and is exposed during wind events. It can be a challenge to maneuver to the dock.
We need to find employment for our former Mayors so that they do not need to lobby for developers after leaving office.
Roslyn E. Feierstein
October 25, 2025at7:20 am
The revised plan certainly looks polished at face value. However, the 90 foot storage is adjacent to the bridge and does not address property values, WILDLIFE, or the fact that the second largest Marin is being built on an island that is less than 2 square miles of land.
Eric James
October 24, 2025at12:46 pm
I am a property owner on Tierra Verde and am strongly opposed to this project in its current form. A project of this density is more appropriate for an urban core area. The loss of retail that is frequented by locals will create additional trips across the bridge for many cars and exacerbate the traffic problems that currently exist.
Mike Burke
October 24, 2025at11:01 am
I’m an Tierra Verde resident and I live five houses away from this proposed nightmare. The article was very deceptive and surprising coming from a former mayor. The residence of terra Verde, and I mean all of them do not want to change the height variance for this group. This would likely be the second largest boat storage facility in the world. The largest storage facility sits nowhere near a residential area as environmentally sensitive as Tierra Verde. It’s just such a shame that sometime in the middle of the night years ago, the city St. Petersburg corruptly stole the two retail properties that exist on the island, all in the name of the almighty dollar.. Greenleaf is no different in my eyes. Let’s take the money and run, screw the residents.
Sandy Winter
October 24, 2025at7:08 am
I love the way this article does not mention the huge amount of opposition from T.V. residents and why they have concerns. Ex – Mayor Kriseman tells us how great this is for us – perfect, that we can bring more people from Tampa to this little island with one lane on and off. Ridiculous.
Paul Lee
October 23, 2025at11:27 pm
There is a lot of misinformation in this article:
– there is not a need for dry rack storage as there are open spaces in this and other marinas and the marina across the street. 3 marinas within miles of this marina.
-a majority of the community opposes this marina due to size it would be the 2nd largest boat storage in the USA, and in a residential neighborhood.
-Kriseman did not meet with all stakeholders and has not returned calls or emails or reached out to the community. The Tierra Verde Community Assoc does not represent a majority of residents.
-Residence Inn: 6 floors, 12 feet per floor= 75 feet
-Also note: Roads are already congested:
Ft Desoto Park 7400 visitors per day
23,077 visitors per weekend
51,923 visitors per week
2.7M annual visitors
Roads were never designed to handle additional traffic with one lane in and out over the bridge with traffic having to navigate a roundabout at the base of the marina with 4 way traffic.
-Kriseman and Greenleaf fails to acknowledge this project is less than a mile from the Pinellas National Wildlife Refuge.
Richard Fabrizi
October 23, 2025at5:33 pm
Good luck with the current. I used to own this property and it was always a nightmare and always will be.
Paul Lee
October 24, 2025at11:06 am
While the numbers I posted are “averages”, the Negative Traffic impact on weekends and holidays is absolutely a nightmare. Both sides of the road go from 2 lanes to 1 lane choking off on both sides of the bridge. Traffic backs up sometimes for miles.
Then you hit the roundabout and it is bumper to bumper. Greenleaf has not approached Tierra Verde NEXT to talk about concerns. They only talked to people they knew would agree to building this monstrosity. Our last meeting Oct 18th, over 100 people showed up to voice their concerns, outrage, disbelief over this project. Where was Kriseman or Greenleaf? A lot of people are saying that Kriseman is the point man on this project because he is using his contacts with the City of St. Petersburg to push this through. Building this next to some of the largest grass flats in Tampa Bay, with a vibrant and large Manatee population, Eagles, and other nesting birds is just crazy, irresponsible and should not be built in a residential neighborhood. Greenleaf and Kriseman can reach out to us at any time to listen to our concerns. The only people wanting this project this big are the developers who stand to profit. Use common sense, the 2nd largest dry storage in America does not belong on this little piece of property next to residential neighborhoods.
Mark Cramer
October 23, 2025at3:41 pm
All of their renderings are intentionally deceptive. They don’t show the true height of the 90 foot high storage racks.