Lack of Office Space Raises Concerns as Companies Bang on St. Pete’s Door

Commercial real estate and economic development leaders are urging the St. Petersburg City Council not to pump the brakes on supporting office construction in the city.

St. Petersburg needs more office space to add jobs, to attract new companies and to allow existing companies to expand, yet there is little space currently available for those new and expanding businesses, said Alan DeLisle, city development administrator. Financing for new office projects is tough, but one way to make the cost of office building projects more feasible is through partnerships between the city and private developers, such as selling city land at favorable prices or subsidizing parking garages, DeLise told the City Council during a meeting of the Committee of the Whole Thursday.

Council members had asked for the briefing as they work to balance multiple needs in the city, including funding for affordable housing, and as the Covid-19 pandemic shakes up traditional office demands.

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