Third Lake Partners, a Tampa-based company, has offered St. Petersburg six million dollars for a parking lot owned by the city that was part of an earlier proposal for Moffitt Cancer Center facilities.
The parking lot was located at the 800 block Second Avenue South. It was originally intended to be developed into a cancer center, residential tower and garage. Moffitt, along with its Atlanta-based partner TPA Group offered $5 million to the city for the property. St. Petersburg mayor Ken Welch rejected Moffitt’s proposal for affordable housing in August 2022.
According to the letter, the bid does not specify what Third Lake intends to build on the land but agrees to "begin the construction of the development within five years."
Ken Jones, the CEO of Third Lake did not respond immediately to a comment request Wednesday.
Third Lake Partners has offered the city $6,000,000 for the site, 'as an initial estimate of property value' according to a non-binding Letter of Intent. According to a Pinellas County document, in November the company bought UPC Insurance's HQ at 800 Second Ave. S. for $10,5 million. The 40,588 square foot headquarters building as well as a small parking lot were included in the purchase.
Third Lake's uninvited offer triggered an open bidding process. Developers who wish to submit a proposal must do so by 10 am on May 31, 2010.
Jones told the Tampa Bay Business Journal that in November, any plans for the UPC Headquarters site would 'fit in very well with any surrounding development in the next year. Jones said that they may continue to use it as an office or redevelop the site into a mixed-use area.
Third Lake Partners bought four additional parcels for $6.5M from UPC Insurance, near the former headquarters. These included an office building, vacant land, and surface parking. The office building sits directly across the street from the headquarters and the other properties purchased are along Third Avenue S.
These properties are located just a few block away from Tropicana field, where the city has been in talks with the Tampa Bay Rays team and Hines Development for a major redevelopment. The team proposed a mixed-use community of 7 million square feet around a new Rays ballpark.