City Transfers EDGE District Land to The Central Developers
St. Petersburg executed two deeds transferring portions of the redevelopment site to companies tied to the $200 million project.
Updated on Nov. 4, 2026 in Commercial
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The City of St. Petersburg executed two deeds on November 3, 2026, transferring properties to companies associated with The Central, a mixed-use development in the EDGE District. The deeds were recorded in Pinellas County's official records and accompany a 28-page post-closing agreement.
Why it matters
The transfer moves the redevelopment closer to completion, with the developer required to finish office, retail and workforce housing components by January 1, 2030, unless an extension is granted. The agreement includes financial terms and penalties tied to the project's progress.
The post-closing agreement sets a $6.4 million base purchase price and a city purchase-money mortgage of up to $4 million, with a potential $1 million payment to the city if office improvements are incomplete. The agreement's final purchase price depends on negotiated credits that are not specified in the extraction.
The players
City of St. Petersburg
The municipal government of St. Petersburg, Florida, which owns the EDGE District site and transferred the properties.
EDGE Central Development Partners
The developer group behind The Central, which is party to the post-closing agreement with the city.
Robert Gerdes
St. Petersburg's city administrator, who signed the deeds on behalf of the city.
The details
One deed conveys approximately one-third of an acre to OS Hotel LLC, while a second transfers property including the completed 540-space parking garage to OS Parking Sub LLC. The deeds were signed by City Administrator Robert Gerdes and include a permanent sidewalk easement near Central Avenue and 13th Street North.
Timeline
2019: City selected a development team for the site.
February 2024: The Central broke ground.
June 2025: The 540-space parking garage opened.
September 24, 2026: City memorandum said the transaction would close within weeks.
November 3, 2026: City executed the two deeds.
Market Landscape
Public land transfers paired with developer performance deadlines are a common tool for urban infill projects in Florida's growing cities. The post-closing terms, including a purchase-money mortgage and a penalty tied to office completion, reflect how cities structure risk in mixed-use redevelopment.
Residents and businesses near Central Avenue and 13th Street North will see the completed parking garage and planned hotel, retail and apartment components tied to this agreement. Workforce housing units will initially be reserved for eligible city employees, which affects who can access the new apartments.
The takeaway
The deeds mark a concrete step in the EDGE District redevelopment, but the financial terms and 2030 deadline will determine whether The Central delivers the office, retail and housing it has promised.
What happens next
The developer must complete the office, retail and workforce housing components by January 1, 2030, unless an extension is granted.
Further reading
For more on commercial property deals in the area, browse Commercial listings in St. Petersburg.
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