Proposals to redevelop the St. Petersburg Municipal Marina Released

cliggittvaluation • July 24, 2023

Back in April, the city of St. Petersburg released a request for a development partner to redevelop and operate the downtown St. Petersburg Municipal Marina. Proposals were due by July 14th and released on Thursday the 20th. The proposal requested that development teams who had experience in developing and operating marinas in saltwater environments submit proposals. The option to redevelop and operate restaurant space adjacent to the marina was also given. That space is currently home to Fresco’s Waterfront Bistro at 300 Second Avenue NE.


Two Dallas-based real estate firms submitted proposals - Suntex Marina Investors and Safe Harbor Marinas. The city-owned marina has 640 permanent wet slips, and the infrastructure has reached the end of its service life. The central yacht basin docks were built in 1963 and four of five south yacht basin docks were built in 1977.

Safe Harbor Marinas


Safe Harbor owns 135 marinas, 20 of them being in Florida. Proposed by Safe Harbor is $48 million in capital investments to the marina. They have offered to pre-pay the five-year initial lease term of $1.25 million ($250,000 per year at lease commencement). After the initial five-year term, a proposed percentage rent of 15% of total gross revenues (excluding fuel and retail), 5% of total retail revenues, and a participation rent of $0.05 on each gallon of fuel sold. Safe Harbor has projected that percent rent could total $34.475 million over 20 years. 


The proposed five-year lease may be favorable to the city as it will not require voter approval via referendum. Six of eight city council members will still need to approve the plan.


 For the central basin plan, Safe Harbor proposed:

- 14,000 linear feet of leasable floating dock space

- Flexible dock space that can accommodate 325+ boats in a range of vessel sizes, up to 200 feet in length. 

- Approximately 30 new covered wet slips, and preservation of the existing covered wet slips.

- A welcome center at the entrance of the St. Pete Pier

- A multi-level state of the art restaurant building seating 225 guests with indoor and open-air waterfront seating. 

- Two-story welcome/amenity center with a lounge, exercise facility, parking for electric vehicles available for boating                              members and visitors to navigate the city, located on the north wall of Demens Landing. 

- Updated restroom and shower facilities for the north, west, and south sides of the central basin. 

- Improved ship store offerings, upgraded landscape, as well as outdoor gathering spaces that are adjacent to the marina                      office, fuel dock, and ship store. 


Safe Harbor also proposed the following for the south basin plan:

-         12,000+ Linear feet of leasable dock space

-         Additional flexible dock space that can accommodate 310+ boats of vessel size up to 200’ in length.

-         New amenity center with commercial space for marine-related operators and marina related retail. The center will also                       include a restroom with showers.

-         Dedicated maintenance building and yard

-         Permanent special event dock that will be available for the St. Pete Grand Prix, designed to accommodate and integrate                     with the annual boat show.

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Suntex Marina Investors


Suntex has 28 saltwater coastal marinas, 16 being in Florida. The company has proposed $70 million in improvements to the marina. The proposal would generate $14.2 million in ground lease and revenue share payments, plus $2 million in property taxes to the city through the initial 10 years of stabilized operations through a revenue sharing program according to the proposal. An initial 30-year lease term with two 25-year renewal options is being asked for. Over the total 80-year term, the ground lease revenue is estimated at $444 million with $57 million additional in property taxes.


The 30-year lease with extension will require voter approval.


The company has also projected job opportunities for their proposal. 358 construction jobs would be created with $42 million in payroll. The redeveloped marina, if done by Suntex, would create 292 permanent jobs generating $10.9 million annually in wages.


Proposed by Suntex is:

-         A 660-slip marina, with 35,000 linear feet of new floating docks & utilities, with an opportunity to expand further with an                    increase of 10,000 linear feet of docks.

-         New marine support facilities, dockmaster’s building, captains lounge, marina store, laundry, and shower/restroom                               facilities.

-         20,000 SF of restaurant and retail space within Demens Landing Park

-         4,000 linear feet of waterfront promenade

-         An increase of about 200 parking spaces at Demens Landing Park, bringing 485 total parking spaces

-         16 upland acres redeveloped with 10 being dedicated for recreation purposes.

-         Permanent amphitheater space

-         At Suntex’s cost, an option to add multipurpose fields and sports courts.


Additionally, the Suntex proposal has addressed the 100+ residents who live on boats at the marina. Their rents are less than $1,000 a month, an affordable option in an increasingly hard to afford city. Concerns of a rent spike have been communicated by residents. Suntex says the current rate is in line with typical rates in the region, and rates would be adjusted to reflect future marina amenities. The residents will also be subject to vessel relocation and customary construction and utility disruptions during redevelopment. Meanwhile, the Safe Harbor proposal has not addressed current residents. Currently, those who live on their boats at the marina can do so for $230 a week. 

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City staffers will evaluate the proposals, but no timeframe for choosing one or entering negotiations is set. Once administration and a developer reach an agreement, it is subject to city council approval. The marina is an anchor point of the waterfront district located at the point of Demens Landing. 

Thank you for your interest. If you are in need of Appraisal & Valuation Services in St. Pete, contact:

Mike Cliggitt, MAI, MRICS, CCIM

813.405.1705 - Direct Line

findvalue@cliggitt.com

St. Petersburg Appraisal & Valuation Services

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Pasco County Approves Expansion of The Grove at Wesley Chapel

By • September 15, 2025
Pasco County commissioners have approved a major residential expansion at The Grove at Wesley Chapel, reinforcing the growth of one of the area’s most dynamic mixed-use destinations. On September 2, commissioners voted to allow developer Mark Gold to add 275 additional apartment units, nearly doubling the community’s multifamily component from 300 to 575 residences. Transforming a Former Retail Center Since acquiring The Grove in 2019, Gold has reshaped the once-struggling retail center into a thriving hub anchored by the Krate container park, boutique retailers, restaurants, and entertainment venues. The addition of new apartments is the latest step in evolving the 165-acre property into a fully integrated live-work-play environment. The approved plan calls for four-story apartment buildings, integrated pedestrian connections, and a new park. Residents will have direct access to Krate and surrounding businesses, further driving foot traffic and supporting small local enterprises. Commissioners described the project as a “classic mixed-use development” that responds to shifting consumer and tenant demand. Addressing Infrastructure and Traffic Concerns While Commissioner Jack Mariano voiced concerns over congestion along Oakley Boulevard, the main access road, other commissioners pointed to ongoing infrastructure improvements—including the widening of Old Pasco Road—as a sign that capacity is keeping pace with development. Additional pedestrian safety measures, such as new crosswalks and stop signs, were also included in the approval. Beyond Apartments: What’s Next for The Grove Although multifamily is taking the spotlight, questions remain about the use of The Grove’s 500,000 square feet of office entitlements, which have not yet been exercised. Commissioners emphasized the importance of adding employment opportunities to balance the project’s residential and retail growth. Gold has committed 1,000 square feet to a co-working space, reflecting demand from remote workers, and noted that hotel development is also underway, with letters of intent already signed for 120 rooms. Remaining entitlements include 50,000 square feet of retail and additional acreage along Old Pasco Road. A Model for Suburban Redevelopment The Grove’s continued evolution highlights a broader trend in the Tampa Bay area: the repositioning of aging retail centers into mixed-use, experience-driven destinations. As national retailers close and consumer behavior shifts, developers are integrating housing, entertainment, and co-working concepts to create sustainable long-term value. Commissioner Seth Weightman summed it up: “If it was ever an appropriate place in this county to have multifamily, this is it.” Source: Tampa Bay Times Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com

USF Trustee's Vote to Advance New Mixed-Use Fletcher District

By • September 9, 2025
The University of South Florida is moving forward with plans for a major mixed-use development on its Tampa campus known as the Fletcher District. Earlier this month, the university’s trustees approved the concept, and the proposal is now heading into a 90-day review process with the City of Tampa, Hillsborough County, and other local agencies. If approved by the Board of Governors in November, construction could begin as early as next year, with a second public hearing scheduled for December 10. The first phase of the Fletcher District will transform 27 acres into a combination of student and multifamily housing, a hotel and conference center, retail and dining options, green spaces, and a new academic building. Developers may also add an additional 20 acres of cottage-style family housing depending on early demand. The project is being structured as a public-private partnership, meaning USF’s direct financial role will be limited to the academic building and its share of infrastructure improvements. This site has been the focus of debate in recent years, as nearby residents previously pushed back on development proposals tied to land along Fletcher Avenue containing wetlands and sandhill preserves. In 2023, USF President Rhea Law designated the Forest Preserve as undevelopable and closed the university golf course adjacent to it. The current plan emphasizes preservation by including wildlife buffers, native vegetation restoration, and stormwater management systems designed to complement the natural environment. A full traffic analysis is also underway to address concerns about congestion along Fletcher Avenue. Reactions to the plan have been mixed. Student leaders see the Fletcher District as a “win-win” for the university and the broader community, citing the addition of much-needed housing and economic activity. Trustees have expressed optimism about the project’s potential to enhance campus life, with suggestions for public artwork and other landmarks in the green space. Local residents, however, remain concerned about flooding, runoff, and increased traffic in the surrounding neighborhoods. Some fear the project could overwhelm nearby infrastructure, though university officials say they are committed to working within all environmental and regulatory requirements. From a valuation perspective, the Fletcher District represents a significant shift in the development landscape around USF. Large-scale mixed-use projects of this nature often set new benchmarks for rent levels, absorption rates, and market expectations. The addition of multifamily housing, hospitality space, and retail could create ripple effects across adjacent submarkets, while the public-private structure introduces unique considerations for land valuation and long-term lease structures. As details continue to emerge, appraisers, investors, and property owners alike will be watching closely to see how this project influences growth and value in the area. Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com

A New Ballgame: Phillies Reignite Clearwater Development Plans

By cliggittvaluation • July 31, 2025
After a pause following last year’s hurricanes, the Philadelphia Phillies have resumed discussions with the City of Clearwater and Pinellas County to revisit long-term plans for upgrading their spring training complex. While no formal proposal has been submitted yet, early conversations signal a renewed interest in reaching a mutually beneficial agreement. City Manager Jennifer Poirrier, who is leading negotiations on behalf of Clearwater, says the team appears to be taking past community feedback seriously. “The Phillies organization definitely seems to have been listening,” Poirrier said, noting cautious optimism about progress. Pinellas County Administrator Barry Burton has also been involved in the meetings, given the likelihood that the Phillies will request funding from the county’s bed tax—a tax collected on short-term lodging stays. “Our role stems from the tourism impact the Phillies bring,” Burton said. “They’ve indicated that they may request funding from the bed tax, which is why we’re part of these conversations.” Back in 2019, the Phillies requested $40 million from the county’s bed tax to fund a nearly $80 million renovation of BayCare Ballpark and the nearby Carpenter Complex. That proposal didn’t gain traction, especially as the facilities—built in 2004—were significantly newer than others that had received funding, such as the Toronto Blue Jays’ Dunedin complex. Since then, project plans have remained fluid. In 2022, the Phillies unveiled a vision for a year-round player development hub, with cost estimates reaching $300 million. Later, they introduced a proposed mixed-use development—Ballpark Village—featuring residential units, retail, and dining space. The team purchased 13 acres just south of the complex for $22.5 million in November 2023 to support this expansion. Still, a more modest stadium-focused project, with a projected cost around $65 million, seems to be the first step forward. Poirrier confirmed that a scaled-down version is the likely direction in the near term but emphasized openness to more comprehensive plans in the future. “The U.S. 19 corridor holds enormous potential for economic growth,” she said. “We’re dreaming big and keeping our minds open.” The most recent meeting between city, county, and Phillies representatives took place on July 16, with another one scheduled for Friday. While Clearwater hasn’t re-engaged its former consulting firm CAA Icon—paid over $260,000 for its past role in negotiations—it may do so again down the line. From the Phillies’ side, key personnel in the discussions include Director of Florida Operations John Timberlake, BayCare Ballpark GM Doug Kemp, and CFO John Nickolas. Timberlake has not provided public comment on the meetings. City and county representatives, including Poirrier and Burton, are also planning a visit to Philadelphia in late August, a tradition where local officials are hosted by the team at Citizens Bank Park. These visits often include dinners, games, and conversations—but no negotiation meetings are currently scheduled for the trip. The Phillies have held their spring training in Clearwater since 1947 and have built deep ties to the community. In addition to their stadium investments, the team has made philanthropic contributions, including a $1 million donation toward hurricane relief last November. As of now, no final timeline has been established for the proposal or public funding request. “I think it’s safe to say everyone wants this finalized sooner rather than later,” Poirrier said, “but there’s no definitive timeframe just yet.” Source: Tampa Bay Times Thank you for your interest. Have questions regarding the local market? Navigate the Real Estate Market with confidence, and contact us at Cliggitt Valuation for your appraisal, consulting, and valuation needs today. Mike Cliggitt, MAI, MRICS, CCIM 813.405.1705 | 863.661.1165 - Direct Lines findvalue@cliggitt.com Appraisal & Valuation Markets Questions about our blog? Contact our Director of Sales & Marketing, Sydney Avolt. Sydney Avolt 727.403.7418 - Direct Line sydney@cliggitt.com
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