The neglected Coquina Key Plaza, a St. Petersburg strip mall located near the corner of 6th Street S. and 45th Avenue, may see a wave of new development and a new grocer – if all goes according to plan.
Stoneweg US, a St. Petersburg real estate investment company that purchased the 110,500-square-foot shopping center in a $7.23 million deal, previously said it has plans to convert the property into a mixed-use development with workforce housing and a minimum of 20,000 square feet of retail with the hope of attracting a fresh food store, along with other retailers.
On July 12, the development group was scheduled to go before the City Community Planning and Preservation Commission (CPPC) for approval to change the zoning for the property from Corridor Commercial Suburban (CCS-1) to Corridor Commercial Traditional (CCT-1). This zoning change would allow a developer to build up to 150 feet high or 15 stories at that site.
However, the CPPC deferred the request, and it is now expected to go before review on Aug. 9. If it receives the greenlight, the request will then go before the St. Petersburg City Council for final approval.
The proposed redevelopment has stirred debate among some residents who have expressed concerns regarding the height of the structures, how it may increase the population in the area and eliminate the existing retail.
Meanwhile, Stoneweg’s project isn’t the only project to reinvent and activate the surrounding area.
Tampa-based Sight Development is planning to build a coastal-modern townhome complex called Coquina Cabanas, which will be located at 3850 Pompano Drive SE, a 1.01-acre lot owned by the Coquina Key Property Owners Association. The property houses a community clubhouse that was built in the 1960s and is not currently utilized.
Earlier this month, the St. Petersburg Development Review Commission unanimously approved the project.
Coquina Cabanas will feature six buildings with a total of 13 units. The 2,270-square-foot, three-story units would have three bedrooms and two and a half bathrooms, and a two-car garage.
The developer did not ask for any bonuses and said the landscaping will be retained.
The site is near other townhome communities and single-family homes.