The dilapidated Coquina Key Plaza, a St. Petersburg strip mall located near the corner of 6th Street S. and 45th Avenue, will be redeveloped into housing and potentially could introduce a new grocer to the neighborhood food desert.
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 retail and workforce housing.
The development group is now asking the City Community Planning and Preservation Commission (CPPC) 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, buildings in that area are limited to a maximum of 45 feet, thus in a proposed development agreement with the city, Stoneweg has agreed to restrict the buildings on the site to 75 feet.
Read more at www.stpetecatalyst.com
