A retail plaza and boat yard near the Pinellas Bayway Bridge at the entrance to Tierra Verde may soon be demolished to make way for a private boat club and expanded boat storage facility.

On Monday, Michael Coffey, Executive Vice President of Greenleaf Capital, introduced preliminary redevelopment plans for Tierra Verde Marina, located at 100 Pinellas Bayway South, during a Tierra Verde Community Association meeting.

Greenleaf Capital, the real estate division of Tampa-based HCI Group, Inc., acquired the seven-acre marina property for $5,000,100 in 2011.

Coffey outlined a phased redevelopment plan that includes demolishing the existing facilities to construct a larger boat storage facility, a modern boat club featuring a restaurant, bar, and pool, along with improved landscaping, security, and additional amenities.

Currently, the marina consists of 64 wet slips, 314 high-and-dry racks within a 58,000-square-foot indoor storage facility, a 24,000-square-foot shopping center, and a gas station. The shopping center houses various businesses, including a restaurant, gym, laundry, bait shop, and salon.

Phased Redevelopment Plan

During the first phase, the existing dry storage building will remain operational to ensure continuous marina services.

Phase one includes:

• Demolishing the 24,000-square-foot shopping center.
• Constructing a new clubhouse, marina harbormaster office, and an additional 236 dry racks, bringing the total to 548.
• Adding a 119-space surface parking lot.

The planned three-story clubhouse, designed in a southern coastal style, will feature:

• A lounge and kitchen on the first floor.
• A 2,581-square-foot restaurant with outdoor balcony seating on the second floor.
• A 2,465-square-foot rooftop bar on the third floor.

The new harbormaster office will also include 856 square feet of retail space, locker rooms, and restrooms.

Phase two involves demolishing the current 58,000-square-foot dry storage facility and constructing a larger high-and-dry storage building, increasing total capacity to 711 racks. A tractor barn will also be added.

No estimated construction timeline was provided, as the plans remain in early design stages. The City of St. Petersburg must approve the site plan and issue permits before construction can proceed.

Community Opposition

Greenleaf Capital’s presentation emphasized the project’s potential benefits, including reduced traffic and noise, enhanced security, improved landscaping, and an updated architectural design in harmony with Tierra Verde’s character.

However, many local residents remain opposed to the redevelopment.

On Thursday, the Tierra Verde Community Association (TVCA) sent a letter to the St. Petersburg City Council expressing strong opposition to the proposal. The letter cites three primary concerns:

1. The industrial-style design, which they argue disrupts Tierra Verde’s natural beauty.
2. The addition of over 500 new boat storage units, which they believe will worsen traffic congestion while catering primarily to non-residents.
3. The loss of vital local businesses, a significant issue given the island’s limited commercial space.

While opposing the current plan, the TVCA remains open to alternative redevelopment options.

“We are not against redevelopment, but we advocate for a plan that preserves retail options, maintains the island’s natural aesthetic, and minimizes hazards at the entrance to our community,” the letter states.

That same day, Natalie Winslow, owner of The Gym Tierra Verde—one of the businesses located at the marina—launched an online petition opposing the redevelopment. The petition echoes TVCA’s concerns and, as of publication, had gathered 262 signatures.

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(Image credit: Greenleaf Capital)

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