EDGE DISTRICT HOTEL OPPORTUNITY
936 1st Avenue N
Saint Petersburg, FL 33705
- Excellent location in heart of Edge District
- Located in a newly designated Opportunity Zone
- Attractive architecture
- Super-adequate off-street parking
- Zoned DC-1 with FAR up to 7.0
This is an amazing opportunity to develop a boutique hotel in the heart of St. Pete's booming Edge District. The property is surrounded by multiple new luxury apartment developments as well as the city's most sought after pedestrian friendly retail offerings. IMPORTANTLY, this property is located in the newly designated OPPORTUNITY ZONE (designated by the Governor) and is eligible for capital gains deferment and possible elimination under the new JOBS and TAX act, signed by the President in December 2017. Below are two links (to copy and paste) that direct you to the Florida Department of Economic Opportunity as well as the map showing the property in the zone.
Florida Department of Economic Development Link: http://www.floridajobs.org/business-growth-and-partnerships/for-businesses-and-entrepreneurs/business-resource/opportunity-zones
Opportunity Zone Link: https://esrimedia.maps.arcgis.com/apps/View/index.html?appid=77f3cad12b6c4bffb816332544f04542
The 4-story hotel is located between Baum Avenue and 1st Avenue N in the heart of the budding Edge District in Downtown St. Petersburg. It is located 2 tax lots north of the new 218 unit apartment complex being developed by Bainbridge Companies as well as 2 tax lots west of the 377 unit luxury apartment complex being developed by Related Group of Miami. It is also located in the newly designated OPPORTUNITY ZONE.