$1.2-billion downtown St Pete project to benefit Satoshi Hideout and Elysium Apts
February 1, 2023
Tampa’s Mayor Welch announced yesterday that developer Hines and the Tampa Bay Rays will redevelop Tropicana Field and the Historic Gas District. This is set to be one of the largest development projects in recent Tampa/FL history, with a $1.2-billion budget for 80+ acres of land, adding massive density to a flourishing Tampa Bay area. Here are the exciting highlights:
- $1.2 billion estimated budget for a multi-year development
- 192 million square feet of office space
- Nearly 6,000 residential units (25% affordable)
- Construction of a new Tampa Bay Rays Stadium
- 1,000 construction jobs and various related opportunities
More on the announcement here.
While housing and real estate development have slowed in many parts of the country, Tampa and especially downtown St Pete continues their growth with strong net population, migration, tourism, and employment diversity.
Skytian has purchased three assets in downtown St Pete and continues to look for acquisitions. These projects are:
- Satoshi Hideout – 425 and 424 2nd Street North – already operating to great fanfare as a branded furnished leasing (“BFL”) apt community. Click here to book with us. For more information, you may read this article the Tampa Bay Times published about Satoshi Hideout
- Elysium Apts – 805 4th Ave N – existing 12 units currently undergoing renovation for BFL on nearly 16,000 sq ft of DC2 land with the potential to develop to 180+ units.
Satoshi and Elysium are both within walking distance of Tropicana, three major hospitals, Central Ave with miles of F&B, shops and museums, and the St Pete Pier.
To partner/invest with Skytian please visit and subscribe to our newsletter: www.skytiancapital.com
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