
A Shared Future

BayWalk

Location: 125 - 2nd Avenue North, St. Petersburg

Redevelopment District: Downtown St. Petersburg

Project Type: Redevelopment

Description: In 2001, a $40 million partnership between the city and local development firm The Sembler Corporation gave rise to BayWalk, a major retail-entertainment complex that helped begin the downtown's revival. This development was the culmination of a years-long effort to bring a major retail/entertainment venue to the downtown.

At the time of the partnership, the city had already invested $20 million in streetscape improvements, parks, parking, land acquisition, and demolition of aging buildings. The city agreed to provide additional streetscaping and to pay for all utilities except for on-site storm water retention. It also committed to provide evening parking at a nominal rate, with net parking revenues accruing to the city. In return, Sembler purchased the land from the city and agreed to rent space in the parking garage.

The complex includes a 20-screen movie theater, restaurants, bars, and shops. Altogether, it encompasses 180,000 square feet of commercial space in two buildings, the main plaza and the parking garage. As the primary destination for downtown visitors, it has served as the catalyst for an unprecedented wave of downtown redevelopment, which elected officials are referring to as the city's "renaissance."

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