The site, known as Gateway Parcel D, is inside the Gateway Centre Business Park, in the City of Pinellas Park. Under Florida’s Live Local Act, it qualifies for administrative approval for the development of up to 18-units per acre.

The Gateway area offers convenient access to U.S. Highway 19 as well as Gandy Boulevard providing easy transportation connectivity to Interstate 275. Future tenants will be able to fully embrace a live-work-play lifestyle here as the site is near strong employment growth and recently constructed luxury apartments.

Home to several of the region’s largest employers who are responsible for over 60,000 jobs, Gateway is favorable for new construction given the overall tight market, above average rents, and a thin pipeline for new projects.

±24 Acres

The property is located in the City of Pinellas Park and is zoned M-1. Light Industrial. M-1 zoning allows for but is not limited to a wide variety of industrial, commercial, and office uses as well as, compatible retail, wholesale, and distribution operations.

Housing that complies with the Live Local Act can be developed in commercial, industrial, and mixed-use zoning districts that do not currently allow residential development. In the City of Pinellas Park, the applicable zoning districts are CN, M-1, and IH.

Sites that meet Live Local Act and City zoning districts requirements will be administratively approved for housing development.

This site will qualify if the project commits to at least 40% of the total units for affordable housing for 30 years. Affordable means monthly rents, including taxes, insurance and utilities do not exceed 30% of the monthly income of families with incomes at or below 120% of the area median.

Maximum density for sites in the City of Pinellas Park that comply with the Live Local Act is 18 units per acre. Therefore, the maximum density for this opportunity is 432 total units.

4-Stories

22-30-16-30374-000-0400 AND 22-30-16-30374-000-0402

This property is subject to the Gateway Centre Property Owners Association, Declaration of Covenants, Conditions and Restrictions (CC&Rs), and Design Criteria. POA dues are currently assessed annually.

(At U.S. Highway 19 & Gateway Centre Boulevard)

Average Annual Daily Traffic Count: 65,000

Source: Florida Department of Transportation Traffic Online

All communication regarding any aspect of this offering will be made directly through Nancy Surak at the Land Advisors Organization.