Downtown St. Petersburg tower lands nine-figure construction loan
By Emma Behrmann
Tampa Bay Business Journal
Published: Jun 30, 2026

A 24-story residential tower in downtown St. Petersburg is ready to rise on land that was previously held by a Tampa investment firm whose CEO was sentenced for fraud.

Chicago-based developers Focus and Bradford Allen secured a $135 million construction loan from Affinus Capital to finance the ground-up development of a 24-story, 373-unit apartment building at 275 Fifth St. S. Plans for the project were first approved by the city in 2022. Construction is expected to be complete by 2028.

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