Paradise Ventures is eagerly awaiting approval from the city of St. Petersburg for a rezoning request that would allow them to demolish two office buildings and construct 371 apartment units, along with some retail space on the ground floor. The proposed project, which spans 3.24 acres at 4115 W. Spruce St and 4107 W. Spruce, has been met with enthusiasm by both developers and potential residents.
The existing office building at 4115 W. Spruce St currently houses Five Labs, a popular conference and educational space for those in the healthcare industry spanning over an impressive16,000 square feet of space.
Plans for this new development include an amenity area as well as a pool for residents to enjoy year-round convenience.The three-story building will also feature a spacious parking garage with room enough to accommodate up to500 vehicles comfortably.Kimley-Horn has been tapped as the engineer while CBA Architects will serve as lead architect on this exciting project.
Accordingto reports from Tampa Business Journal,the purchase price paid by Paradise Ventures was $5 .25 millionforthe property locatedat4115W.SpruceSt.in2020and$6 .196millionfor4107W.Sprucelastyearin2023.This bold move signals Paradise Venture’s commitment towards creating high-quality living spaces within thriving communities like St.Petersburg,and their efforts are sureto be metwith great success in years ahead.The post titled “St.Pete Developer Seeks Zoning For371-Unit Rental Community”on Connect CRE provides further insight into this promising venture.
