SkyTown: The $800M Development Set to Transform South St. Pete – What Homeowners and Investors Need to Know
A major transformation is underway in South St. Petersburg, and it’s centered around one of the largest developments the city has ever seen.
The long-vacant Ceridian office campus off 34th Street South is being reimagined as SkyTown, a sprawling $800 million mixed-use development that promises to reshape the Skyway Marina District and surrounding neighborhoods over the next decade.
Whether you’re a local homeowner, investor, or homebuyer, this project represents both a powerful shift in the local landscape—and a once-in-a-generation real estate opportunity.
What Is SkyTown?
SkyTown is a bold, long-term vision for a 36-acre site located at 34th Street South near 30th Avenue South, a stone’s throw from Eckerd College and just minutes from the Sunshine Skyway Bridge.
The project is backed by Altis Cardinal, a Miami-based developer with a track record of large-scale urban revitalization. This project has been in planning stages for years, but with final approvals granted in 2025, construction is finally set to begin in fall 2025.
What’s Coming to SkyTown?
SkyTown is much more than just housing. It’s a full-fledged live-work-play community designed to support modern lifestyles while increasing density and improving infrastructure in one of St. Pete’s fastest-changing areas.
Here’s what’s planned:
1,549 residential units, including apartments and townhomes
A 150-room hotel
89,000+ square feet of retail and dining space
A Sprouts Farmers Market grocery store
3,500 square feet of office space
A 2.5-acre public park and walking paths
Central green space for community events
Construction will happen in phases, with a total timeline estimated at 8 to 10 years.
The goal? To create a vibrant, pedestrian-friendly urban village that brings new life to South St. Petersburg—while supporting long-term population growth, tourism, and small business development.
Why the Location Matters
SkyTown sits in the heart of the Skyway Marina District, an area already earmarked for revitalization in the City of St. Petersburg’s 10-year planning strategy.
It’s also just minutes from:
Eckerd College
Clam Bayou Nature Preserve
Downtown Gulfport
Maximo Marina and the Skyway Bridge
I-275, with easy access to Downtown St. Pete and Bradenton/Sarasota
For decades, this part of town has remained underdeveloped compared to Downtown or the beaches. But that’s changing fast. SkyTown is expected to become a catalyst for broader redevelopment throughout South Pinellas.
Real Estate Impact: A Window of Opportunity
If you’re a homeowner or investor in the area, the message is clear: now is the time to pay attention.
Property values around major new developments historically increase—not overnight, but steadily—especially when driven by mixed-use growth, retail amenities, and long-term population expansion.
Why This Matters for Investors
SkyTown represents a unique buy-and-hold opportunity for real estate investors. With 1,500+ new residential units and the influx of new residents, renters, and commercial tenants, demand for housing in the surrounding area is poised to rise steadily.
Savvy investors are already eyeing neighborhoods like:
Greater Pinellas Point
Lakewood Estates
Maximo Moorings
Broadwater
Gulfport and Childs Park
Prices here are still relatively affordable compared to Downtown St. Pete or the beaches, but with an 8–10 year development timeline, early buyers have a chance to benefit from long-term appreciation.
What This Means for Current Homeowners
If you own a home nearby, this project could increase your property’s value and desirability—especially if you’re close enough to walk or bike to the new amenities SkyTown will bring.
That said, large developments can also bring more traffic, noise, and construction disruption, so now is a good time to reassess your long-term plans. If you’re planning to sell in the next few years, you may want to time your listing to align with key project milestones and early retail openings.
Lifestyle Enhancements: More Than Just Real Estate
For residents, SkyTown is set to bring lifestyle upgrades that go beyond real estate.
The Sprouts Farmers Market will bring healthy, organic grocery options to a part of town long underserved by high-quality food retail. Restaurants, cafes, and boutique retail shops will add walkable dining and entertainment to the mix.
And the inclusion of green space and a public park ensures that this is not just another dense apartment complex—it’s a place designed for community gathering, dog walking, biking, and open-air events.
This shift supports the city’s broader mission to build sustainable, connected neighborhoods outside the Downtown core.
Timeline and What’s Next
Construction is expected to begin in fall 2025, with initial phases including housing and retail components. Full build-out is expected to take between 8 and 10 years, depending on market conditions and city permitting.
As this timeline plays out, we’ll likely see increased public infrastructure investment, from road improvements to expanded transit access. Local businesses will also begin positioning themselves to benefit from the rising foot traffic.
What You Can Do Now
If you’re considering a move, investment, or simply want to know how this affects your neighborhood, here are a few action steps:
✅ Buyers & Investors: Look for properties within 1–2 miles of the development zone. Focus on homes with ADU potential or under-market value.
✅ Sellers: Monitor city announcements and early construction phases. Values may rise after the first retail tenants open—timing your sale can make a big difference.
✅ Homeowners: If you’re planning to stay, expect more services, walkability, and demand—but also prep for traffic and a changing neighborhood vibe.
Final Thoughts
SkyTown is more than just another apartment complex—it’s a signal of where South St. Pete is headed. With over $800 million being invested and major retailers like Sprouts signing on, this is the kind of project that redefines a neighborhood’s future.
If you want to stay ahead of the curve, now is the time to learn, act, and position yourself strategically—before the rest of the market catches on.
📞 Have questions about how this could impact your real estate goals?
I’m Sean Tennant, your St. Pete real estate expert. Whether you’re buying, selling, or investing, I can help you navigate this opportunity with confidence.
📲 Call or text me at 727-251-4106
📧 Email: Sean@TampaBayRealtorSean.com
🌐 www.TampaBayRealtorSean.com
Let’s talk strategy—because SkyTown isn’t just a project. It’s a turning point.
