PROPERTY DESCRIPTION Prime 3.86 +/- acre development site in the heart of St. Petersburg that offers immense opportunity to add value. The site's strategic location offers unparalleled potential for a high-density, single or mixed-use development in a strategic location with exceptional visibility from the major travel corridors: I-275 and 34th St S (US-19), as well as ingress/egress off of 34th St S (US-19). With direct frontage along 34th Street S/US-19, the site also provides easy convenient access to both northbound and southbound lanes of I-275. DYNAMIC RE-DEVELOPMENT OPPORTUNITY Preliminary architectural test fits (in concert with Design Style Architects and the City of St Petersburg) indicate a substantial high-density multifamily development potential of approximately 316 units. This density is based on using either SB328 - Live Local Act (LLA) or Section 17.5 of the City of St Petersburg Code, with the potential for up to 82 units per acre in a 7+ story building. The property's proximity to RC-1 Activity Center Zoning and development regulations appear support these re-development potentials for the site - thus making it an ideal opportunity for a high-density single or mixed-use project. Don't miss out on this exceptional re-development site that offers a unique opportunity to create a landmark project that will make a mark on this quickly morphing and burgeoning area. CURRENT SITE CONDITIONS The site is currently developed with a small church building on one parcel and is vacant land on the other. The site's limited existing structures and utilities on-site should prove to be advantageous in creating efficiencies for a redeveloped site. DRAINAGE EASEMENTS Preliminarily conversations with the City of St Petersburg indicate that the drainage easements can be handled as a part of any well thought out site plan, and as long as those changes are adequate, the City would likely support the same, thereby unifying the 2 parcels into one. ZONING - TWO VETTED PATHWAYS 1) LIVE LOCAL ACT (SB 328) Qualification – at least 40% of the units must be 120% AMI or less (120% is $2,149 for 2024 in Pinellas County for 1 Bed Unit). Density - determined by the highest base density in the municipality (4.0 FAR under DC-C zoning – with a 50% bonus applied under the LLA). This produces a maximum density of 6.0 FAR. Height – given that there are not 25 continuous homes on any side of the property, height is determined by the highest zoned height within 1 mile (which the City recognizes as RC-1 with an activity center overlay). This provides for 72’ of height. Additional 12’ of height may be available if the structure is elevated over surface parking. 2) SECTION 17.5 OF THE CITY OF ST PETERSBURG CODE https://library.municode.com/fl/st._petersburg/codes/code_of_ordinances?nodeId=PTIISTPECO_CH17.5HOAS RE-DEVELOPMENT PRELIMINARY TEST FIT Preliminary architectural test fits indicate a substantial high-density multifamily development potential of up to 316 units (using either SB328 – Live Local Act (LLA) OR section 17.5 of the City of St Petersburg Code, with the potential for up to 82 units per acre in a 7 story+ building. Test fit plans with various options can be provided upon request, or modified with the architects in short order. LOCATION DESCRIPTION The offering is an exceptional re-development site situated in the northern portion of the dynamic Skyway Marina District in St. Petersburg. This prime location offers a unique blend of coastal living, urban convenience, and strong investment potential. The 34th Street/US-19 is a major north/south artery serving the entire western coast of Florida, and locally connects Pinellas County to Manatee and Sarasota counties (via I-275) to the South as well as Pasco County to the North (via US-19). Hillsborough County is also readily accessible (via I-275 or the Selmon Expressway) with immediate I-275 access in direct reach of the site. The US-19 major frontage artery is experiencing a significant amount of growth with new luxury apartments, including Sur Club, Marina Walk Marina Club, Skytown and the Addison Skyway Marina, which are attracting young professionals relocating to the area as well as those looking for living within quick reach of BOTH Downtown St Pete and the Beaches. Strong retailers are also thriving in this market with major retailers such as restaurants, hotels, and shopping centers all along the 34th Street corridor. Additionally, new amenities, such as Sprouts and 92,000 SF of retail in the Sky Town development will only add to the desirability of the corridor. This area has become increasingly attractive due to its convenient access to all the major destinations in Pinellas, Hillsborough, Manatee and Sarasota Counties and access measured in mere minutes to Downtown St Petersburg, the Beaches, Airports and major travel arteries around the state.