St. Petersburg officials and developers gathered Monday to break ground on Azalea Cay, a new mixed‑income multi‑family community slated for the 29‑acre former Raytheon site at 1501 72nd Street N., near Tyrone Square Mall and the Pinellas Trail.
Project scope and affordability
The first phase will deliver 341 apartments, including 51 units reserved for households earning 80% or less of the Area Median Income (AMI) and another 51 units for families earning up to 120% of AMI. In total, the development will contain roughly 1,000 units across three phases.
Public investment and long‑term affordability
The city contributed $6 million to phase one, while Pinellas County pledged over $5 million from its Penny for Pinellas fund, bringing total public investment to $11.25 million. County Commissioner Brian Scott emphasized that the agreements ensure all 102 workforce‑affordable units will remain affordable for 50 years.
Mayor and community perspective
Mayor Ken Welch called housing affordability “one of the most pressing challenges facing our community,” noting that rising costs have forced many families to make difficult choices about staying in St. Petersburg. He praised the project as a way to revitalize an underused property, generate economic activity, and create lasting neighborhood value.
Developer background and site remediation
Porter Development acquired the site in 2021 after years of soil and groundwater contamination remediation that began when Raytheon purchased the land in 1995. Porter Development President Les Porter said the size of the parcel was a key draw, given the scarcity of large parcels in Pinellas County.
Initial plans called for housing, a lagoon, and a sports complex, but after the county planning agency Forward Pinellas voted against that vision, the developers revised the proposal to a mixed‑income model approved by the City Council in 2023. The revised plan faced neighborhood opposition, which the developers say helped shape a more balanced approach.
Environmental safeguards
Porter assured residents that oversight will be handled by the Florida Department of Environmental Protection, with a soil‑management plan and ongoing groundwater testing. While a 2010 request from Raytheon established a temporary compliance boundary for known contamination, recent testing shows concentrations have decreased, though a complete cleanup has not yet been achieved.
Future phases and timeline
Metro Development Group principal Kartik Goyani highlighted a “weekly plan” to keep the project on track. Phase one is expected to be completed in about 24 months, and the developer has six additional multi‑family projects in the pipeline statewide, with more groundbreakings planned in the coming weeks, including another in St. Petersburg.
Azalea Cay represents a partnership between local government and private developers aimed at expanding affordable housing options while stimulating economic growth in west St. Petersburg.
Original reporting: St. Pete Catalyst — read the source article.
