357 on 5th Apartments
Construction will soon begin on a new multi-unit apartment building with retail space at 357 5th Street South in downtown St. Pete. The project will have minimal parking as a result of recent changes to development regulations.
The five-story, $5 million project, developed by 357 5th Street South LLC and designed by Place Architecture, will consist of 25 residential units, including three studio units and 22 one-bedroom units that range in size from 597 to 738 square feet, as well as a rooftop terrace and 727 square feet of retail space on the first floor. Notably, unlike many other new apartment properties downtown, there will be no pool, gym, or similar amenities on-site at the 357 Apartments. Developer Brad Campbell’s goal is to create a high-quality, comparably more affordable place to live.
The property will include bike parking on-site, but there will be no traditional parking lot or garage as a result of changes to the City’s Land Development Regulations and Comprehensive Plan that lessened the mandatory minimum parking requirements for multifamily developments in an effort to address affordable housing concerns. The 357 Apartments will replace a three-story, six-unit apartment building that stood on the site previously. That property was recently demolished.