Multifamily management firm TGM Communities is changing plans for its mixed-use Ibis Walk apartment complex.
The group is tossing out its plans for 150,000 square feet of office space and commercial uses, and instead will build 127 new residential units.
The St. Pete Development Review commission approved the modifications on Wednesday for the site in the Gateway area. It’s located north of Gandy Boulevard between Dr. Martin Luther King, Jr. Street North and Roosevelt Boulevard North.
The 22-acre, mixed-use Ibis Walk development currently has 401 multi-family units and 28,440 square feet of retail and restaurant space. The retail and restaurant tenants include Tijuana Flats, 9Round Fitness, Smoothie King, Dollar General and Yaya’s.
TMG Communities acquired the Ibis Walk apartments for $68 million several years ago and renamed the community TMG Ibis Walk. The agent representing TMG Communities did not state why the plans for the office and commercial spaces aren’t moving forward; however, those tracts of land have been untouched for some time.
The southwest corner of the property, previously designated for commercial use, will be the site for the six-story, 127-unit multi-family development.
The building would be wrapped around a parking garage as the plan shows a four-story “U” shaped building that would sit on top of the garage. An outdoor amenity area will be on the roof of the garage.
TMG Communities is working with Tampa-based BDG Architects on the design.
The second phase of Ibis Walk, which includes the new units, is expected to break ground in the first half of 2022.