Twin 31-story towers could reshape St. Pete’s skyline

A local developer has submitted plans for a $225 million project that would bridge a gap between St. Petersburg’s downtown core and an underutilized area around Tropicana Field.

If approved, Echelon Development will transform a former insurance company’s headquarters and city-owned parking lot into a mixed-use development with two 31-story towers, 824 apartments and 35,800 square feet of retail space. The existing building at 800 2nd Ave. S. temporarily houses executive offices for the Tampa Bay Rays.

The unnamed project’s scale is, by local standards, enormous. Its combined 1.56 million square feet of gross floor area far surpasses the 46-story Residences at 400 Central (1.2 million), St. Petersburg’s tallest tower.

The site formerly housed UPC Insurance’s headquarters and a city-owned parking lot.

An Echelon Development representative listed on the application could not be reached for comment. The project is a joint venture between the St. Petersburg-based firm and Tampa’s Third Lake Partners (TLP).

UPC Insurance, now defunct, once called the 3.05-acre site home. It was also part of a previously proposed and still-discussed project that would have included a Moffitt Cancer Center, a 30-story residential tower and a 14-story hotel.

Moffitt and its partners offered the city $5 million for UPC’s headquarters and an abutting 1.53-acre surface parking lot. Mayor Ken Welch scrapped the plan in August 2022 due to its lack of affordable and workforce housing units (70) and discounted sales price.

TLP purchased the UPC site for $10.5 million in November 2022. The firm subleased the adjacent parking lot, across the street from the Historic Gas Plant District’s planned redevelopment, from the city.

City appraisals valued the 1.53-acre parcel at roughly $16 million. However, officials were eager to exit a cumbersome lease and sold the parking lot to TLP for $10 million in September 2024.

The firm also vacated a portion of right-of-way along 2nd Avenue North that would have served as a gameday entrance into the Gas Plant. City administrators did not mandate an affordable housing component.

Brian Caper, workforce and economic development director, said the city’s community benefits process would not apply unless TLP’s project fell below $40 million. He believed it would “exceed two to three times” that threshold.

Administrators stipulated that TLP must commence construction on a mixed-use development with residential, office, retail or hotel uses within five years or face a $4,167 monthly penalty. City council members must find Echelon’s proposal consistent with plans for the Intown Community Redevelopment Area (CRA) before the Development Review Commission considers the site plan.

“The development,” the firm wrote, “will also help to re-establish the fabric of the Intown CRA by dedicating the previously vacated 2nd Ave South right of way back to the city.”

The unnamed project will feature over 35,000 square feet of street-level retail space.

The proposed project’s ground floor features 35,800 square feet of retail space and residential lobbies for each L-shaped tower. A seven-story podium will provide 1,550 parking and 828 bicycle spaces for 824 units.

An amenity deck with two resort-style pools, cabanas, fitness centers, social lounges and fitness facilities will sit atop the podium. Floors 8 through 31 will feature high-end, market-rate apartments. Penthouses will occupy the top levels, and the towers will reach 343 feet.

“This development is designed to enhance its surroundings by prioritizing active ground floor uses and shaded pedestrian pathways that foster street-level vibrancy,” Echelon wrote. “By incorporating balconies and other features that encourage interaction with the outdoors, the design celebrates St. Petersburg’s unique climate while contributing to its reputation as a livable and forward-thinking city.”

In February, Cody LeClair, senior vice president of Echelon, said the area around Tropicana Field would eventually undergo redevelopment and connect to St. Petersburg’s downtown core – with or without the Rays. However, he predicted it would “take more time and look a lot different” than previously thought.

The Rays, which have used the former UPC building since Hurricane Milton decimated Tropicana Field, walked away from long-negotiated plans for the Gas Plant less than a month later. City council members have refused to pay for office repairs in the stadium.

Tampa Bay Rays executives temporarily occupy the property’s existing 40,588-square-foot building. Photo by Mark Parker.