Developer proposes large-scale conversion of former shopping plaza
A Tampa-based developer is preparing to convert the now-defunct Coquina Key Plaza into a mixed-use complex that would deliver hundreds of new apartments and street-front retail to a 14.5-acre site in south St. Petersburg.
The project, called Marinova at Coquina Key, is planned for 575 45th Ave. S., the address for the shuttered shopping center. Plans call for a residential component of 456 units and more than 20,000 square feet of commercial space in two retail buildings, according to project filings and renderings released by the developer and design team.
What the plan would contain
- Residential: Nine four-story multi-family buildings totaling 456 residences. Three buildings would contain 72 units each; six buildings would contain 40 units each.
- Retail: Two commercial buildings measuring roughly 10,629 and 10,188 square feet that would front the residential buildings and accommodate restaurants, boutique shops and a pet grooming salon.
- Site size: 14.5 acres at the former Coquina Key Plaza.
The development team includes Bayline Group as the developer, BDG Architects as the designer and NDC Construction Co. listed as the general contractor. Public records show Bayline Group acquired the property in 2021 through an affiliate, SWD Coquina Key LLC, for $8.9 million.
Timeline and next steps
Construction is anticipated to begin by the end of this year or in early 2027, according to reporting in the Tampa Bay Business Journal that summarized the developer's timeline. Before groundbreaking, the proposal must proceed through any outstanding permitting and local review processes required by Pinellas County and the city, including site plan approvals and building permits.
Local context and potential impacts
The project would replace a commercial strip that has declined in recent years with a denser, mixed-use neighborhood node. For residents and city officials, the development raises several immediate considerations:
- Transportation and parking demands around 45th Avenue South and nearby routes.
- Infrastructure capacity for utilities and stormwater on a 14.5-acre parcel.
- Neighborhood character changes with four-story buildings and increased population density.
Because the retail buildings are oriented to front the residences in conceptual renderings, the site design appears to aim for a more walkable environment than the typical suburban strip center. The planned mix of restaurants, small shops and service tenants such as a pet groomer aligns with St. Petersburg's push in many neighborhoods for denser, pedestrian-friendly infill development.
| Item | Planned amount |
|---|---|
| Site size | 14.5 acres |
| Residential units | 456 |
| Retail square footage | ~20,817 sq ft (10,629 + 10,188) |
| Acquisition price (2021) | $8.9 million |
"Marinova at Coquina Key is planned for 575 45th Ave. S., St. Petersburg, Florida, 33705, in Pinellas County."
That description, included in project materials, underscores the site's location within city limits and the county's planning jurisdiction. The transformation from an aging plaza to a mixed-use complex mirrors broader trends across the Tampa Bay region, where developers are repurposing underused commercial parcels for higher-density housing and retail.
Neighbors and community groups often seek clarity on how such projects affect traffic, schools and public services. City planners will evaluate the developer's site plans and impact studies as part of the permitting process; any required public meetings will provide opportunities for residents to review details and offer comment.
For now, the project remains in the pre-construction phase: renderings and project descriptions outline the developer's intent, but exact unit mix, final tenant roster and the schedule for construction and occupancy will be finalized as approvals move forward.
As the proposal advances through permitting and pre-construction work, St. Petersburg residents can expect updates from the developer, permitting authorities and local news outlets on timelines, community meetings and the project's final design and tenant lineup.
