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August 14, 2018

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St. Petersburg: Inviting, Inspiring and Growing Brighter Every Day

Lynn Waddell | 1/26/2018

St. Pete Rising

As more people rediscovered the St. Pete lifestyle, downtown condominium development exploded around 2010. More recently apartment complexes have sprung up downtown and beyond. Large single-family homes are replacing many smaller ones, and vacant neighborhood lots are filling fast.

“So many people who chose to come to Florida are choosing to come to St. Pete because it’s so cool here,” says Lari Averbeck, a residential agent with RE/MAX Metro. While demand close to downtown outpaces supply, Uber, improved bicycle lanes and expanded public transit have helped fuel housing growth beyond the city core. “People often ask, ‘How far of an Uber ride is it?’” Averbeck says. “With Bike Share, you can Uber downtown and ride bikes once you get down there.”

Though the St. Petersburg real estate market is hot, opportunities for commercial development remain.

Ron Wheeler, CEO of The Sembler  Company, a major developer and manager of shopping centers throughout the Southeast, says St. Petersburg’s retail market is also strong.

“We’ve got a really healthy retail market in particular downtown where occupancy is very high,” Wheeler says. “There’s certainly opportunity for more development — primarily redevelopment.” 

On the horizon, Wheeler says “the biggest real estate deal” will be the Tropicana Field property, which holds the possibility for a large corporate headquarters, housing, retail and more.

Homes of St. Pete

St. Petersburg’s neighborhoods are as eclectic as the people who fill them. The city’s Jungle Prada neighborhood is home to an ancient

Tocobaga Indian mound as well as resident peacocks that sometimes roam the shady brick streets. While the Kenwood neighborhood is known for its craftsman-style bungalows.

In the city’s older neighborhoods, you will be hard pressed to find two single-family homes exactly alike. Some homes date to the early 1900s and feature rusticated brick. Others such as the birdcage homes, so-called for their large screened areas, date from the mid century. Grand Spanish Mediterranean revival homes of the 1920s can be found throughout the city. The new homes are also a mix of styles, though generally larger than most older ones. Whatever your dream home style, you can be sure to find one in the neighborhoods of St. Petersburg.

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