34 Acres Of Skyway Marina District To Be Developed Into Multi-Use Complex

ST. PETERSBURG, FL — A Coral Gables real estate firm closed on the 34-acre Ceridian Office Park in the Skyway Marina District area for $40 million Wednesday, a news release said.

Altis Cardinal plans to develop the land into a mixed-use project including commercial, multi-family and retail space, according to firm leaders Frank Guerra and Alberto J. Suarez. They also claim that the $40 million all cash acquisition is one of St. Petersburg's largest land purchases in decades.

“We’ve been developing in St. Petersburg for nearly a decade and are pleased to continue our presence here for another decade while working on this multi-phase development,” Guerra, principal and founder of Altis Cardinal, said. “This area is booming with growth, maturing as a world class city, and we’re excited to be a part of it.”

The firm’s next step will be the submission of a master plan for the property, staff said. Preliminary development plans constitute an urban mixed-use project which keeps a portion of the property’s existing 380,000 sq. ft. office complex while adding multi-family units and retail space along 34th Street, its project described. New living corridor in the Skyway Marina District with market rate apartments and walkable retail mixed in with commercial space, Suarez said.

The Skyway Marina District property plans to feature up to 1,520 units. “I’m not aware of any other developer in St. Petersburg who currently has this many units under development,” according to Guerra.