opportunity zone prospectus - cdn.ymaws.com...part of the 2017 federal tax cuts and jobs act....

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Opportunity Zone Prospectus Pinellas County, Florida Home to Opportunity Zones in: St. Petersburg Clearwater Largo Tarpon Springs Seminole Lealman Gateway OPPORTUNITY ZONES The Opportunity Zone Program was created as part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury Department. By investing in an Opportunity Zone, through a qualifying Opportunity Fund, investors can defer and/or reduce their federal capital gains tax liability. These tax benefits increase the longer investments are held. There is no cap on the amount of capital that can be invested and the Opportunity Zone incentives can be applied to a wide range of investments in real estate and operating companies. Pinellas County Economic Development 13805 58th Street N, Suite 1-200 Clearwater, FL 33760 (727) 464-7332 www.PCED.org/OZ

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Page 1: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Opportunity Zone Prospectus

Pinellas County,

Florida Home to Opportunity Zones in:

St. Petersburg Clearwater Largo Tarpon Springs Seminole Lealman Gateway

OPPORTUNITY ZONES The Opportunity Zone Program was created as part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury Department. By investing in an Opportunity Zone, through a qualifying Opportunity Fund, investors can defer and/or reduce their federal capital gains tax liability. These tax benefits increase the longer investments are held. There is no cap on the amount of capital that can be invested and the Opportunity Zone incentives can be applied to a wide range of investments in real estate and operating companies.

Pinellas County Economic Development 13805 58th Street N, Suite 1-200

Clearwater, FL 33760 (727) 464-7332

www.PCED.org/OZ

Page 2: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Pinellas County, Florida

Attracted by the mild, sub-tropical climate and miles of white sand beaches, nearly 950,000 people have made Pinellas County their home. With an average 360 days of sunshine each year and beaches ranked among the best in the U.S., the county is also the most popular tourist destination on the Gulf of Mexico, drawing nearly six million tourists annually.

Pinellas lies at the center of the robust Tampa Bay market, which is expected to grow from its current population of 4 million to 6 million by 2030. The market’s significant economic clout is also evidenced by more than $70 billion in consumer spending and a labor force 2 million strong. The region is ranked number 20 in the U.S. for job growth and carries the country’s 13th largest media market.

Anchored by the urban markets of St. Petersburg and Clearwater, Pinellas has the second largest base of manufacturing employment in Florida. Fortune 500 technology manufacturers Jabil and Tech Data are headquartered here. Pinellas has diverse, yet symbiotic, industry clusters, including aviation/ aerospace; defense/national security; medical technologies; business

and financial services; and information technology.

Pinellas offers an extraordinary quality of life, a relatively low cost of living, diverse housing options and high-quality colleges and universities. With its outstanding cultural, recreational and sports facilities, incomparable parks and beaches, and year round events, Pinellas provides a true resort lifestyle.

As an established community, Pinellas County’s significant infrastructure is already in place, including schools, utilities and roadways. Pinellas is also well connected with regional access provided via Interstate-275, two international airports, and the largest port in Florida. The Penny for Pinellas is a 1 cent sales surtax used to build and maintain the County’s infrastructure ensuring a great base for private sector investment.

Page 3: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Pinellas County’s Opportunity Zones

The County’s 16 Opportunity Zone Tracts range geographically with one in Tarpon Springs at the northern end of the County, to one in downtown Clearwater, six in the mid-county Largo and Gateway area, one in the unincorporated area of Lealman and seven in St. Petersburg.

Opportunities abound from the massive redevelopment potential of Tropicana Field in Downtown St. Petersburg to urban infill projects in the downtowns of Clearwater, Largo and Tarpon Springs to housing and mixed-use opportunities throughout all tracts.

Read more to find the right zone for your investment.

From North to South

NAME TRACT # Tarpon Springs 274.02 Downtown Clearwater 259.00 Clearwater/Largo Road 256.02 Downtown Largo 256.03 Sugar Creek 253.05 Fairway Village 254.17 South High Point 245.10 Seminole 251.15 East Lealman 246.02 Tropicana Field 216.00 Kenwood/Palmetto Park 219.00 Childs Park 208.00 Melrose Mercy Wildwood 287.00 Thirteenth Street Heights 212.00 Lake Maggiore 206.00 Bartlett Park/Harbordale 205.00

Page 4: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 274.02 (12103027402) – Tarpon Springs

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

1,101 6,266 3463 1979 41.8% 58.2% 2,897 2.2 $29,755

Description The Tarpon Springs tract encompasses 1,101 acres. It is bordered by South Pinellas Avenue (Alt. 19) on the west, Klosterman Rd. on the South, U.S. Highway 19 on the east and East Tarpon Avenue on the north.

Land Use/Zoning The tract has a wide range of land uses including general commercial, residential office and residential mixed use along South Pinellas Ave. The Community Redevelopment Area has a form based zoning code allowing greater flexibility throughout the northern portion of the zone. The eastern border of U.S Hwy 19 is General Commercial and with typical highway business uses common throughout the County. Most of the interior is Residential or Recreation/Open Space.

Designations Approximately 70 acres along the east and west sides of Alt. 19 are part of Tarpon Springs Community Redevelopment Area (CRA), and offer myriad incentives for development, including façade and restaurant recruitment grants. The City’s National Register and Local Historic Districts are located within the northern portion of the tract. The tract is also a federal Targeted Employment Area (EB-5 Visa) and a NMTC Higher Distress area.

General The tract encompasses the Southern Gateway, South Pinellas, Spring Bayou, Downtown, and Union Academy neighborhood areas as well as U.S. Hwy 19, the County’s major commercial north/south corridor. Along this stretch of U.S. 19 are typical retail strip centers with grocery, retail, restaurants, and a few motels/hotels. The tract contains four large mobile home communities, a large open space park, and the Pinellas Trail runs adjacent to Pinellas Avenue, the western border. Beginning at the intersection of Pinellas Avenue and Safford Avenue and running north is the CRA designated portion of the tract. This area is a focus of redevelopment efforts through the CRA, including infrastructure upgrades and beautification.

Opportunities There are excellent opportunities for commercial development in this tract along the west side of U.S. Hwy 19. Smaller infill and commercial redevelopment are available throughout the tract and the CRA provide incentives for certain redevelopment projects. Redevelopment opportunities include: residential parcels along S. Safford Avenue owned by the City and County Housing Authorities; the 10-acre Manatee Plaza, an underutilized shopping center adjacent to Meres Boulevard; and a 60-acre former City-owned Land located along Meres Boulevard east of the shopping center. There is significant opportunity to increase residential density along the Meres/Mango corridor. The Meres/Mango connection to U.S. 19 will be constructed in 2019 by the developer of the Meres Apartment Complex currently under construction at the south east corner of Meres and Pinellas Avenue. Once the connection is complete the City will petition PSTA to include the facility as a transit corridor which will facilitate future density increases in the area. At least four established Mobile Home Parks in the zone totaling over 134 acres are available for redevelopment within the zone. The City would look favorable upon land assembly along the US-19 corridor and be willing to explore nodal development in this area. This would likely result in more flexible regulations for future business. The City is focused on exploring options to reevaluate the current land use patterns along the US-19 corridor.

Contact

City of Tarpon Springs Economic Development: Karen Lemmons, (727) 943-4932, [email protected]

Page 5: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 259.00 (12103025900) – Downtown Clearwater (Clearwater)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

851 5,205 3,827 1980 21.9% 78.1% 2,782 1.8 $24,009

Description

The Downtown Clearwater tract contains 851 acres. It is bordered by the Intracoastal Waterway on the west, Drew Street on the north, Lakeview Road on the South, Missouri Avenue on the east.

Land Use/Zoning

The northern half of the tract is Activity Center due to its designation as a Community Redevelopment Area (CRA). The southern portion of the tract contains a mix of uses including Residential, Office, Industrial, Retail/Services, and Employment.

Designations

The northern half is Clearwater’s Community Redevelopment Area (CRA) and the City of Clearwater offers unique incentives as part of its CRA program including grant funding for commercial property owners for building improvements. Most of the tract is a state designated Brownfield Area and the entire tract is a NMTC Higher Distress area.

General

The tract houses both the City and County governments’ center and the County Courthouse. It is a focus of redevelopment efforts through the CRA and Imagine Clearwater, a new master plan to revitalize the Clearwater waterfront. The CRA has tax increment financing funds to assist in the redevelopment and revitalization of the area. Public investments already made include substantial streetscape for Cleveland Street.

Opportunities

There are excellent opportunities for all types of redevelopment in this tract. Downtown offers an urban setting for office, residential, commercial and mixed-use projects.

Contact

City of Clearwater Eco Development: Denise Sanderson, (727) 562-4031, [email protected]

Page 6: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 256.02 (12103025602) – Clearwater/Largo Road (Largo)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

390 3,091 1,989 1969 37.1% 62.9% 1,504 2.1 $31,181

Description

The Clearwater/Largo Road tract contains 390 acres. It is bordered by the Pinellas Trail on the west, 4th Avenue on the South, Missouri Avenue on the east.

Land Use/Zoning

The future land uses is primarily Activity Center due to its designation as a Community Redevelopment Area. The area is comprised of residential uses, and commercial along Clearwater/Largo Road and Missouri Avenue.

Designations

The western 2/3 of the tract are located in Largo’s Clearwater/Largo Road Community Redevelopment Area (CRA) and a Brownfield Area. The eastern border of the tract is also a Brownfield Area. The entire tract is a NMTC Higher Distress area and a Hub Zone.

General

The tract is a focus of redevelopment efforts through the Clearwater Largo Road Community Redevelopment District to create a vibrant mixed-use community. The track is also part of Largo's CDBG area. Major north/south transit routes include the Pinellas Trail, Clearwater Largo Road, CSX rail line, and Missouri Avenue (Alt. US Highway 19). A primary east to west connector is Rosery Road in this tract. Several public initiatives have taken place in this area including corridor landscaping, neighborhood sidewalks and underway in 2019-2020 the complete redesign and construction of Rosery Road from the Pinellas Trail to Missouri Avenue. This tract is adjacent to the affluent Town of Belleair and a redeveloping commercial corridor on Missouri Avenue.

Opportunities

The tract falls within one of the City's redevelopment districts and has an incentive in place for increased residential density for multi-family or infill residential projects. There are numerous (7 to 10) large parcels that have the potential for redevelopment.

Contact

City of Largo Economic Development: Teresa Brydon, (727) 586-7342, [email protected]

Page 7: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 256.03 (12103025603) – Downtown Largo (Largo)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

410 2,565 1,269 1959 63.8% 36.2% 1,151 2.2 $39,320

Description

The Downtown Largo tract encompasses 410 acres. It is bordered by Seminole Blvd. on the west, 8th Avenue on the South, the CSX rail and Missouri Avenue on the east and 4th Avenue on the north.

Land Use/Zoning

The future land use is Activity Center in the northern 2/3 of the tract, due to its designation as a Community Redevelopment Area. The lower 1/3 is primarily Residential. The Activity Center area contains Largo’s historic downtown with commercial uses along West Bay Drive and Clearwater/Largo Road.

Designations

The northern 2/3 of the tract are located in Largo’s West Bay Drive Community Redevelopment Area (CRA) and a Brownfield Area. The entire tract is a NMTC Higher Distress area.

General

Largo’s Downtown is a focus of redevelopment efforts through the West Bay Drive CRA. The CRA Plan goals are to create a walkable, livable downtown with mixed-use development. The CRA has tax increment financing funds to assist in the redevelopment and revitalization of the area. Substantial public investments have been made in roadway improvements, streetscape, new trails and sidewalks and a regional storm water system. The tract also contains the Pinellas County School Board Headquarters.

Opportunities

There are excellent opportunities for redevelopment in this tract which is targeted for growth. The redevelopment district has unique redevelopment incentives for infill housing, mixed use projects, and job creation. The regional storm water retention system has extra capacity for new projects to be constructed. Shovel ready is West Bay Lofts, a two building mixed use development that will have 40,000 square feet of commercial space for rent along with 123 market rate apartment homes. Other opportunities exist for large parcel redevelopment in the tract.

Contact

City of Largo Economic Development: Teresa Brydon, (727) 586-7342, [email protected]

Page 8: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 253.05 (12103025305) – Sugar Creek (Largo)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

384 2,778 2,070 1980 62.2% 39.9% 1,465 1.8 $25,830

Description

The Sugar Creek tract encompasses 384 acres, with half in the City of Largo and other half in unincorporated Pinellas County. It is bordered by Seminole Blvd on the west, Ulmerton Road on the south, 8th Avenue on the north and the CSX Rail on the east.

Land Use/Zoning

The future land uses are primarily Residential with limited Employment and Office designations.

Designations

The southern half of the tract is located in the Ulmerton Road Opportunity Corridor (UROC), a state designated Brownfield Area and the Largo Mall Activity Center. The entire tract is also a NMTC Higher Distress area.

General

The tract has a number mobile home communities, Sugar Creek, Oak Cres, Acorn of Oak Crest, Honeyvine, Town & Country, and Green Meadows, that comprise nearly 150 acres of land. Two apartment communities, Brittany Bay and Whispering Palms are also in this tract, along with Palm Gardens a Rehabilitation Center and The Barrington ALF. Mission City Church occupies 10 acres at the northwest corner, and to its east is Largo Middle School occupying 17 acres. Largo Public Work’s has approximately 25 acres of land along the northeastern border. The southern border, Ulmerton Road, is a major commercial corridor, and a large retail complex there has Home Depot, Publix and smaller retails stores. Pinellas County’s Fleet Facility is also located on Ulmerton Road at the southeastern corner of the tract.

Opportunities

There are several opportunities for redevelopment in this tract. Vacant land, older commercial and larger parcels exist for extensive redevelopment. Within the Largo Mall Activity Center there are density bonuses available for redevelopment of the properties that are located within the designation.

Contact

Pinellas County Economic Development: Cindy Margiotta, (727) 464-7398, [email protected]

City of Largo Economic Development: Teresa Brydon, (727) 586-7342, [email protected]

Page 9: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 254.17 (12103025417) – Fairway Village (Largo)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

314 2,358 1,987 1980 12.5% 87.5% 1,281 1.8 $36,344

Description

Fairway Village encompasses 314 acres in the City of Largo. It is bordered by Starkey Road on the west, Belcher Road on the east, 142nd Avenue N on the south and Willow Avenue on the North.

Land Use/Zoning

The future land uses are primarily Residential with limited Employment and Office designations.

Designations

There are approximately 19 acres of Employment designated parcels along Starkey Road. A Target Employment Center Overlay on these 19 acres allows for a 100% floor area ratio intensity bonus for manufacturing, office, and research and development uses. Another 7 acres of Office designated parcels are located along Belcher Road. The entire tract is located in a NMTC Higher Distress area.

General

The tract contains two large resident-owned mobile home communities, Fairway Village and Paradise Island. Nine acres at the southwest include a City of Largo public works operation.

Opportunities

There are limited opportunity for development in this tract, with the exception of the commercial uses along Belcher and Starkey Roads.

Contact

City of Largo Economic Development: Teresa Brydon, (727) 586-7342, [email protected]

Page 10: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 245.10 (12103024510) – South High Point (Largo/Unincorporated)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

634 4,522 1,002 1975 45.9% 54.1% 861 2.6 $36,098

Description

South High Point offers 634 acres of land in the County’s popular Gateway area, the premier business destination in Pinellas. Approximately 45% of the tract is located in the City of Largo and 55% lies within unincorporated Pinellas County. It is bordered by Roosevelt Blvd to the north, Ulmerton Road to the south, 58th Street to the east and 49th Street to the west.

Land Use/Zoning

The future land uses include Employment, Public and Residential Low Medium, and the accompanying zoning in unincorporated is M-1 and Residential. Most residential is located in the northern third of the tract.

Designations

The entire tract has a Target Employment Center Overlay which allows for a 100% floor area ratio intensity bonus for manufacturing, office, and research and development uses. Approximately 200 acres are located in the Ulmerton Road Opportunity Corridor (UROC), a state designated Brownfield Area. The entire tract is also a federal Targeted Employment Area (EB-5 Visa), NMTC Higher Distress area and a U.S. Hub Zone.

General

Cross Bayou dissects the tract north to south. To the east of the bayou, the tract includes large holdings (approx. 165 acres) by Pinellas County including its Criminal Justice Center and land-leased properties to its south along 49th Street. On the western side of Cross Bayou are larger parcels held by St. Petersburg College and private businesses. St. Petersburg/ Clearwater International Airport is just east of the tract. Major employers include Melitta USA, AAR Composite Structures, Core RX Pharmaceuticals, and BIC Graphic.

Opportunities

Best opportunities are for industrial and office development, along with mixing of uses with commercial and residential including multi-family.

Contact

Pinellas County Economic Development: Cindy Margiotta, (727) 464-7398, [email protected]

City of Largo Economic Development: Teresa Brydon, (727) 586-7342, [email protected]

Page 11: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 251.15 (12103025115) – Seminole (Unincorporated)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income 269 3,319 1,900 1967 47.3% 52.7% 1,575 2.1 $36,098

Description

The Seminole Tract is 265 acres of land in an unincorporated area of Pinellas County, just south of the Largo Mall. It fronts Seminole Blvd on the west and Lake Seminole on the east, and runs from 122nd Ave E on the north to 110th Avenue on the south.

Land Use/Zoning

The Future Land Use is Retail and Services along Seminole Blvd. and Residential Low Medium east to Lake Seminole.

Designations

The entire tract is a federal Targeted Employment Area (EB-5 Visa) and a NMTC Higher Distress area and a U.S. Hub Zone.

General

Single story retail and commercial uses front Seminole Blvd. along the west. The Heritage Presbyterian Apartments, a 400-unit affordable rental community for adults 55 plus, is at the northeastern corner of the tract along Lake Seminole. Just to its south is Bella Vista on Lake Seminole, a desirable condominium complex. And the southeastern corner of the tract is Lake Seminole Resort, a 55+ mobile home park. Single story, single family homes comprise the remainder. A few vacant commercial sites exist.

Opportunities

The best opportunities are for redevelopment, mixing of uses and densification of commercial properties along Seminole Blvd.

Contact

Pinellas County Economic Development: Cindy Margiotta, (727) 464-7398, [email protected]

Page 12: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 246.02 (12103024602) – East Lealman (Unincorporated)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

678 6,189 3,084 1973 34.9% 65.1% 2,359 2.6 $28,060

Description

The East Lealman Tract is 678 acres of land in an unincorporated area of Pinellas County, adjacent to Interstate-275 just north of St. Petersburg. It extends from 62nd Avenue on the north to 40th Avenue on the south and from U.S. Highway 19 to I-275 on the east.

Land Use/Zoning

The Future Land Use is a mix of Residential Low and Medium, with Retail & Services along 34th Street and Haines Road. There are over 100 acres of Employment Center uses in the southwest corner.

Designations

The entire tract is within the Lealman Community Redevelopment Area (CRA) where Pinellas County is making strategic investments through use of tax increment financing to redevelop the area. It is also entirely located within the Lealman Brownfield Area, a Targeted Employment Area (EB-5 Visa) and NMTC Higher Distress Area. A Target Employment Center overlay covering over 100 acres provides a 100% density bonus for manufacturing, office, and R&D uses.

General

The East Lealman tract has a desirable mid-county location and easy access from I-275. The area is predominantly residential, with commercial use along the corridors most notably U.S. Highway 19/34th Street South. Joe’s Creek Industrial Park is the major employment center located in the southwest corner of the tract. Pinellas County invested over $11M to repurpose the former Windsor School into the Lealman Exchange. At nearly 77,000 sq. ft., the community campus aims to take a collaborative, citizen-centric approach to delivering services and programs aimed at increasing citizen engagement, building broader social networks, developing pathways to employment, improving school readiness and success and creating a sense of place for all citizens.

Opportunities

The best opportunities are for redevelopment, mixing of uses and densification of commercial properties along 34th Street South, 54th Ave., Haines Rd. and within the Industrial Park.

Contact

Pinellas County Economic Development: Cindy Margiotta, (727) 464-7398, [email protected]

Page 13: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 216.00 (12103021600) – Tropicana Field (St. Petersburg)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

333 2,219 1,578 1979 10.1% 89.9% 1,222 1.6 $19,828

Description

The Tropicana Field Tract is 333 acres of land that make up the western end of Downtown St. Petersburg. It is bordered on 3 sides by the Interstate-275 and on the north to I-275 on the south.

Land Use/Zoning

Central Business District and Downtown zoning classifications comprises 68% of this area. Other commercial and multi-family designations account for 20% of the properties.

Designations

The southern 2/3 of the tract is in the South St. Pete Community Redevelopment Area. The entire tract is a Florida Brownfield area and Urban Jobs Tax Credit area, a reduced mobility fee zone, and a federal NMTC Higher Distress area and Hub Zone.

General

This tract is home to MLB Tampa Bay Rays at Tropicana Field, the St. Petersburg Police Department, residential complexes Fusion 1560, Urban Flat, 1010 Central, as well as restaurants and retail in the EDGE District.

Opportunities

There are excellent opportunities for development and redevelopment in this tract. It is part of the EDGE District and is anchored by a Florida Main Street organization that plans, promotes, and advocates an eclectic, vibrant community while preserving its unique character. The area has seen a major increase in development activity including renovations and new construction of urban residential and retail and restaurant uses.

The Tropicana Field Conceptual Master Plan has been completed to address the potential redevelopment of the 85-acre Tropicana Field site The Master Plan includes two scenarios, with and without a new Tampa Bay Rays baseball stadium, and up to 9 million square feet of mixed-use development to create a new walkable urban district. The Master Plan envisions corporate headquarters, a technology & research campus, hotel and conference space, destination entertainment, retail, residences and the re-imagination of Booker Creek into a destination amenity.

Contact

City of St. Petersburg Economic and Workforce Development: (727) 893-7100, [email protected]

Page 14: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 219.00 (12103021900) – Kenwood/Palmetto Park (St. Petersburg)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

582 2,823 1,427 1951 75.1% 24.9% 1,126 2.5 $50,909

Description

The Kenwood/Palmetto Park Tract is 582 acres of land in the City of St. Petersburg, just south of the Downtown. It is bordered by 34th Street on the west and 28th Street on the east, and runs from 13th Avenue N on the north to I-275 on the south.

Land Use/Zoning

This area has a variety of Future Land Use and Zoning designations, including commercial/mixed use along Central Avenue, Central Plaza, 5th Avenue North and 34th Street. Industrial accounts for 21% of properties located in the far southern area. Approximately 40% of the area is single-family residential.

Designations

The southern portion of the tract is in the South St. Pete CRA, a Florida Brownfield and a reduced mobility fee zone. The entire tract is within an Urban Jobs Tax Credit area; and a federal NMTC Higher Distress area and Hub Zone.

General

At the southern end is Lakewood High School and lower-end industrial uses. Mid-tract is the City’s Central Plaza with the area’s major transit hub. A number of redevelopment projects are already occurring in this area.

Opportunities

There are many and various opportunities for development and redevelopment in this tract, ranging from commercial, to multi-family to mixed-use and industrial.

Contact

City of St. Petersburg Economic and Workforce Development:

(727) 893-7100, [email protected]

Page 15: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 208.00 (12103020800) – Childs Park (St. Petersburg)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

627 5,313 1,936 1961 93.2% 6.8% 1,610 3.2 $23,674

Description

The Childs Park Tract is 627 acres of land in the City of St. Petersburg. It is bordered by the Pinellas Trail on the north and 18th Avenue South along the south, and by I-275/34th Street on the east and 49th Street on the west.

Land Use/Zoning

The Future Land Use is almost entirely Residential Medium. There are Industrial land uses bordering the Pinellas Trail on the North, Institutional Uses in the northeast corner, and Mixed-Use Redevelopment on both sides of 34th Street and the east side of 49th Street.

Designations

The entire tract is in the South St. Pete CRA and a reduced mobility fee zone. It is within a Florida designated Brownfield area and Urban Jobs Tax Credit area; and a federal NMTC Higher Distress area and Hub Zone.

General

Single-family residential makes up nearly the entire tract. There are Industrial land uses bordering the Pinellas Trail on the North and on the both sides of 34th Street and 49th Street. Approximately 40 acres in the northeastern corner are home to Pinellas Technical College and Doug Jamerson Elementary School.

Opportunities

Opportunities for redevelopment of aging industrial and commercial uses.

Contact

City of St. Petersburg Economic and Workforce Development: (727) 893-7100, [email protected]

Page 16: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 287.00 (12103028700) – Melrose Mercy Wildwood (St. Petersburg)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

448 3,181 1,273 1961 67.2% 32.8% 1,027 3.1 $30,632

Description

The Melrose Mercy Wildwood Tract is 384 acres of land in the City of St. Petersburg. It is bordered by I-275 along the north and 15th Avenue South along most of its southern border. It extends to 16th Street S where the border runs north until it reach 7th Avenue S and extends to the east to Dr MLK Jr Street S.

Land Use/Zoning

The Future Land Use is almost entirely Residential Medium and Residential Low Medium, with primarily Mixed-Use Redevelopment along 18th Avenue S, 22nd Street S, 16th Street S and Dr MLK Jr Street.

Designations

The entire tract is in the South St. Pete CRA and a reduced mobility fee zone. It is within a Florida designated Brownfield area and Urban Jobs Tax Credit area; and a federal NMTC Higher Distress area and Hub Zone.

General

Single-family residential makes up nearly the entire tract. There are commercial corridors along 16th Street, 22nd Street, 18th Avenue and Dr. Martin Luther King Jr Street. The northeastern section of the tract contains about 73 acres of public use space including an elementary and middle school and Campbell Park. Other public uses include St. Petersburg College’s Midtown Campus, Wildwood Park, two elementary schools, the Carter G. Woodson African American Museum, and Jordan Park Housing. The Dueces Live Main Street comprises the length of 22nd Street in this tract.

Opportunities

Opportunities for development and redevelopment of retail and commercial, and some multi-family.

Contact

City of St. Petersburg Economic and Workforce Development: (727) 893-7100, [email protected]

Page 17: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 212.00 (12103021200) – Thirteenth Street Heights (St. Petersburg)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

320 3,439 1,625 1954 65.3% 34.7% 1,124 2.8 $19,141

Description

The Thirteenth Street Heights Tract is 320 acres of land in the City of St. Petersburg, south of the Downtown. It is a flag shaped tract bordered by 18th Avenue S on the south, Dr MLK Jr St on the east, 7th Avenue S and 15th Avenue S on the north and 16th Street and 22nd Streets to the west.

Land Use/Zoning

The Future Land Use is primarily (75%) Residential Medium with Mixed-Use Redevelopment uses along its commercial corridors.

Designations

The entire tract is in the South St. Pete CRA and a reduced mobility fee zone. It is within a Florida designated Brownfield area and Urban Jobs Tax Credit area; and a federal NMTC Higher Distress area and Hub Zone.

General

Single-family residential makes up much of the tract with multi-family and commercial equally comprise the remaining properties. A redevelopment/re-use plan for Tangerine Plaza is under development.

Opportunities

Opportunities for development and redevelopment of retail and commercial along its commercial corridors including the 16th Street Business District, the Deuces Live Main Street, and some potential for multi-family redevelopment.

Contact

City of St. Petersburg Economic and Workforce Development: (727) 893-7100, [email protected]

Page 18: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 206.00 (12103020600) – Lake Maggiore (St. Petersburg)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

435 4,319 1,706 1958 89.2% 10.8% 1,422 3 $28,917

Description

The Lake Maggiore Tract is 435 acres of land in the City of St. Petersburg. It is bordered by 22nd Street S on the west, Dr MLK Jr Street S on the east and runs from 18th Avenue S on the north to Lake Maggiore on the south.

Land Use/Zoning

The Future Land Use is almost entirely Residential Medium and Residential Low Medium, with Mixed-Use Redevelopment uses along 18th Avenue S and Dr MLK Jr Street.

Designations

The entire tract is in the South St. Pete CRA and a reduced mobility fee zone. It is within a Florida designated Brownfield area and Urban Jobs Tax Credit area; and a federal NMTC Higher Distress area and Hub Zone.

General

Single-family residential makes up nearly the entire tract. There are commercial corridors along 18th Avenue South, a portion of 22nd Avenue South and Dr. Martin Luther King Jr Street S.

Opportunities

There are limited opportunities for commercial development along the commercial corridors of 18th Avenue South, a portion of 22nd Avenue South and Dr. Martin Luther King Jr Street S.

Contact

City of St. Petersburg Economic and Workforce Development: (727) 893-7100, [email protected]

Page 19: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Census Tract 205.00 (12103020500) – Bartlett Park/Harbordale (St. Petersburg)

Area (Acres)

Total Population

Housing Units

Median Year Structure Built

% Single family

% Multifamily Households

Average Household

Size

Median Household

Income

390 3,855 1,756 1952 75.7% 24.3% 1,413 2.6 $20,994

Description

The Bartlett Park/Harbordale Tract is 390 acres of land in the City of St. Petersburg, just south of the Downtown. It is bordered by Dr MLK Jr Street S on the west and 4th Street S on the east, and runs from 11th Avenue S on the north to 30th Avenue S on the south.

Land Use/Zoning

The Future Land Use is primarily Residential Medium with Mixed-Use Redevelopment uses fronting Dr MLK Jr and 4th Streets.

Designations

The entire tract is in the South St. Pete CRA and a reduced mobility fee zone. It is within a Florida designated Brownfield area and Urban Jobs Tax Credit area; and a federal NMTC Higher Distress area and Hub Zone.

General

Single-family residential makes up much of the tract with the city-owned Bartlett Park encompassing 22 acres. There are commercial corridors along 4th Street South and Dr. Martin Luther King Jr Street S and 22nd Avenue South

The northeastern portion of the tract, fronting 4th Street, is within St. Petersburg’s Innovation District, an economic development engine fostering innovation and growth among its organizations in medicine, science, marine research and higher education. Pinellas County plans to construct a state-of-the-art regional business incubator in this tract, at the southwest corner of 4th Street and 11th Avenue.

Opportunities

Opportunities for development and redevelopment of retail and commercial, and some multi-family.

Contact

City of St. Petersburg Economic and Workforce Development: (727) 893-7100, [email protected]

Page 20: Opportunity Zone Prospectus - cdn.ymaws.com...part of the 2017 Federal Tax Cuts and Jobs Act. Opportunity Zones are economically distressed census tracts designated by the U.S. Treasury

Pinellas County Opportunity Zone Contacts

St. Petersburg St. Petersburg Economic and Workforce Development: (727) 893-7100, [email protected]

Clearwater Denise Sanderson, (727) 562-4031, [email protected]

Largo Teresa Brydon, (727) 586-7342, [email protected]

Tarpon Springs Karen Lemmons, (727) 943-4932, [email protected]

Seminole Cindy Margiotta, (727) 464-7398, [email protected]

Lealman Cindy Margiotta, (727) 464-7398, [email protected]

Gateway City of Largo: Teresa Brydon, (727) 586-7342, [email protected]

Pinellas County: Cindy Margiotta, (727) 464-7398, [email protected]

Pinellas County Economic Development

13805 58th Street N, Suite 1-200 Clearwater, FL 33760

(727) 464-7332

www.PCED.org/OZ