Focus and Bradford Allen closed on a $135 million construction loan to fund development of 275 5th Street in downtown St. Petersburg. Affinius Capital originated the loan. The 24-story, Class A multifamily property will feature 373 apartments and 6,384 square feet of retail.
275 5th Street will feature a mix of junior one-bedroom, one-bedroom, and two-bedroom apartments, along with an extensive suite of amenities including an outdoor swimming pool and sun deck, fitness center with yoga and spin rooms, coworking space, resident lounges, and more. Completion is slated for 2028.
Located in downtown St. Petersburg at the heart of one of the city’s most walkable and desirable urban neighborhoods, 275 5th Street is steps from the Tampa Bay waterfront and two blocks south of Central Avenue, one of the city’s primary commercial corridors. The site is serviced by the PSTA bus network, the Downtown Looper, Central Avenue Trolleys, and the Pinellas Trail.
