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Seven proposals offer competing visions for Commerce Park
A second ARK-affiliated innovation center, affordable housing, a boutique hotel and a neighborhood grocery are among the concepts submitted.
St. Petersburg officials now have seven competing proposals to transform Commerce Park, a city-owned redevelopment site along 22nd Street South, with concepts that range from affordable housing projects to a mixed-use innovation district anchored by ARK Invest and a boutique hotel overlooking the Manhattan Casino.
The city issued a request for proposals in April seeking a mixed-use redevelopment that would activate the historic Deuces corridor with commercial space, mixed-income housing and neighborhood-serving uses. The 3.03-acre site carries an appraised value of $5 million and sits between Fairfield Avenue South and Interstate 275, adjacent to the Deuces Rising townhome development and across 22nd Street from the Manhattan Casino.
While every proposal includes housing, the visions for the property differ substantially.
HP Capital proposes purchasing an expanded development site for $5 million and constructing a mixed-use project with approximately 320 mixed-income residential units, a 60,000- to 75,000-square-foot Innovation Center, Duckweed Urban Grocery, Gateway Subs, office space, retail and a 25,000-square-foot public plaza.
The proposal includes a letter of intent from ARK Invest, led by Cathie Wood, to serve as the Innovation Center’s anchor tenant. If selected, the project would establish a second ARK-affiliated innovation center in St. Petersburg, complementing the existing ARK Innovation Center, home to spARK Labs by ARK Invest in the Innovation District. That facility supports startups and entrepreneurs working in artificial intelligence, robotics, energy, blockchain and other emerging technologies.
Duckweed Urban Grocery would provide another distinctive feature. Access to fresh food has long been identified as a community priority in South St. Petersburg, making the proposed grocery one of the few full-service food offerings among the seven submissions.
The remaining proposals place greater emphasis on affordable housing, hospitality or maximizing residential density.
SkyView Companies proposes the largest residential development with 422 apartments, retail space and structured parking while offering to purchase the property for $1 million. Woda Cooper Companies, partnering with CDC of Tampa and the Urban League of Pinellas County, also proposes purchasing the property for $1 million while developing 160 mixed-income apartments with neighborhood commercial space and workforce services.
The remaining four teams propose long-term ground leases rather than purchasing the property outright.
Archway Partners proposes 169 affordable apartments with ground-floor retail. Magellan Housing would develop affordable apartments and townhomes with retail space and proposes Blind Tiger Coffee as a tenant. Blue Sky Communities and Habitat for Humanity combine affordable rental housing with homeownership opportunities. Zarius Properties, White Keys Real Estate and Homage Hospitality submitted the only hospitality-focused concept, pairing workforce co-living housing with a 160-room boutique hotel.
The proposals also differ significantly in their financial structures and requests for public participation.
Commerce Park proposal comparison
| Proposer | Land acquisition proposal | Housing | Major components | Public assistance / special requests |
|---|---|---|---|---|
| HP Capital | Purchase for $5 million | 320 | ARK Innovation Center, Duckweed Urban Grocery, Gateway Subs, office, retail, 25,000-SF public plaza | Requests adjacent K-9 parcel and right-of-way vacations |
| SkyView | Purchase for $1 million | 422 | Retail, structured parking | Requests adjacent K-9 parcel through land swap |
| Woda Cooper / CDC / Urban League | Purchase for $1 million. Reverts to City @ 15 years | 160 | Commercial space, workforce services | Relies on affordable housing financing programs |
| Archway Partners | 99-year ground lease (about $45,700/year) | 169 | Ground-floor retail | Option to purchase property; relies on affordable housing financing |
| Magellan Housing | 99-year ground lease ($55,000 initial annual rent) | 126 apartments, 6 townhomes | Retail, Blind Tiger Coffee, public art | Requests $610,000 for apartments and $1,200,000 for townhome assistance |
| Blue Sky Communities / Habitat for Humanity | 99-year ground lease ($158,375 annual rent) | 75 apartments, 6 townhomes | Retail, Habitat homeownership | Requests $75,000 city contribution and conveyance of Habitat parcels for $10 |
| Zarius Properties / White Keys / Homage Hospitality | 99-year ground lease ($100/year) | 45 co-living units (92 beds) | 160-room boutique hotel, 8,000 SF retail | Requests city finance, own and operate a 250-space public parking garage |
Purchase proposals would pay the city upfront. Ground lease proposals spread payments over a 99-year lease term, generally without interest, while several also request additional public participation or financial assistance.
The city’s request for proposals emphasized mixed-use redevelopment that honors the history of the Deuces while maximizing commercial activity and mixed-income housing opportunities. The site has long been viewed as one of the most significant redevelopment opportunities in South St. Petersburg because of its location between the Deuces Live District, the Warehouse Arts District and the Innovation District.
City officials will now evaluate the proposals before determining whether to enter negotiations with one or more development teams.
S. Rose Smith-Hayes
June 28, 2026at12:03 pm
That space does not appear to be large enough for some of the proposed uses. Apartments?? Why not some small manufacturing that provides jobs??? Why a grocery store when there are so few folk living around there???