In a city where undeveloped land is increasingly rare, developers continue looking west for new real estate and housing opportunities.

On April 3, St. Petersburg City Council unanimously approved plans for a small residential subdivision in the western part of the city. The project, known as the Seven Avenue North Villas, will create four buildable lots on a 1.17-acre site currently occupied by a two-story home with a large yard.

Clearwater Capital Partners, the property’s owner, requested a variance to allow the additional lots—three of which do not have direct access to a public street. To address concerns from neighbors, the investment firm agreed to provide vehicle access and parking via a nearby alley instead of building a private road.

“There seemed to be a compromise reached at the last hearing that satisfied the registered opponents’ concerns,” said Councilmember Richie Floyd. “I love to see that.”

Clearwater Capital Partners (CCP) purchased the property at 5635 7th Ave. N. for $1.15 million in January 2024. The financial firm, which manages over $1.4 billion in assets, plans to retain the existing home while creating three additional lots.

Opposition to the plan initially came from several nearby stakeholders, including homeowner Christopher Young, the Fathers of Our Lady of Mercy, the Diocese of St. Petersburg, and the Society of Missionaries of Africa. Four residents also spoke against the project during a February 5 Development Review Commission (DRC) meeting.

The city received three formal emails opposing the development, with concerns largely focused on the potential for increased flooding, sewer strain, and traffic congestion.

Neighbor James Pennington, who lives within 300 feet of the site, wrote that existing drainage and infrastructure issues have already caused repeated flooding and damage to his property. “I oppose any further development that increases impervious surfaces or population load on our sewer system until these problems are resolved,” he wrote.

However, city planner Cheryl Bergailo said the DRC found that adding three more homes would not significantly affect flooding, sewer capacity, or traffic. The commission determined those are broader citywide concerns, not unique to this neighborhood. She also noted that much of the site is already paved, and some of that coverage will be removed during development.

The land was originally platted for 6.5 lots in 1923. The approved plan calls for the subdivision of the property into four lots, with one retaining the existing home. The remaining three will use a 16-foot alley that includes sanitary sewer access. That alley runs along a vacated section of 7th Avenue North between 56th and 58th Streets.

The proposed development density—3.4 units per acre—remains well below the 15 units per acre allowed under the area’s zoning. City planning officials say the project aligns with St. Pete’s land-use goals.

To make room for the new homes, CCP will remove several existing structures, including a tennis court, carports, gazebo, and circular driveway. The company also agreed to provide an easement to Duke Energy and construct a sidewalk along 56th Street.

Under the agreement, no new driveways will be added to the private street except one serving the existing home. All other property improvements, such as fences and walkways, must be cleared before construction begins.

City staff concluded that the requested variance represents the minimum necessary to reasonably develop the land.

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(Image credit: Homes.com)

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