A partnership between real estate construction and financial company Focus and commercial real estate development firm Bradford Allen has secured a $135 million construction loan for 275 Fifth St., a residential project in St. Petersburg, Fla. Affinius Capital provided the note.
The partnership acquired the 1-acre development site in 2023 for $20.2 million. The team developing the project includes general contractor KAST Construction, architecture firms Place Architecture and Gensler, which also serves as interior designer.
The 24-story tower is slated to feature 373 units and 6,384 square feet of retail. The development is scheduled for completion in 2028. The residences will have one- and two-bedroom layouts. Shared amenities will include a swimming pool with sun deck, fitness center, yoga and spin rooms, coworking space and residents’ lounge.
Located in St. Petersburg’s central business district, the development is close to interstates 175, 275 and 375, as well as U.S. Route 19, all which connect 275 Fifth St. to downtown Tampa, Fla., some 23 miles northeast. The community will also be within 1 mile of several hospitals, the Tropicana Field Stadium and Albert Whitted Airport.
