Developers buy land near Tropicana Field for $115 million luxury tower

A pair of Miami developers have bought a 0.77-acre parcel in downtown St. Petersburg near Tropicana Field and plan to build a $115 million luxury apartment tower on the property.

LD&D and Black Salmon paid $9.05 million for the property at 155 17th St. S. The companies’ plan calls for a 23-story, 251-unit tower that will include 10,000 square feet of amenity and coworking space and 5,000 square feet of ground-floor retail.

Construction is expected to begin later this year.

A significant feature of the property is its location. It sits across from Tropicana Field where plans are in the works for a $6 billion multiuse redevelopment of the 86-acre Historic Gas Plant District.

That project is being developed by the Tampa Bay Rays and the team’s development partner the Hines. Plans include a new baseball stadium for the team as well as 4,800 residential units, 1,200 affordable housing units (on and off the site), 750,000 square feet of retail space, 1.4 million square feet of office space and 100,000 square feet of entertainment space, including a 3,000- to 4,000-seat concert venue.

LD&D and Black Salmon bought their property from Apogee Real Estate Partners, which paid $2.85 million for the land in 2022.

According to a new release, the new apartment development will be called Gallery Haus.

The two firms developed a similar property in Miami together called Wynwood House and say in the news release that they aim “to replicate the thriving community model” in St. Petersburg.

LD&D is no stranger to the area. It recently paid $10 million for a 2-acre piece of property just outside of downtown Tampa on E. Harrison Street that is plans to build a $200 million mixed use project on it.