Leading multifamily developer to bring 381 units of much-needed housing to the community
ST. PETERSBURG, Fla., April 6, 2026 /PRNewswire/ — National multifamily developer Wood Partners has officially closed on Alta Roosevelt in St. Petersburg, Florida. The centrally located 381-unit multifamily community is slated to break ground in May and deliver in April 2028.
Alta Roosevelt was entitled through the City of St. Petersburg’s affordable housing code and Florida’s Live Local Act, which allows for multifamily development on sites not originally zoned for residential use. As part of the project, 40% of the units will be reserved for residents earning at or below 120% of the area median income, helping meet demand for attainable housing in the market. The development will involve demolishing the existing office building, while the structured parking garage will be retained and upgraded to serve future residents.
“We’re looking forward to partnering with the City to deliver much-needed, high-quality attainable housing to the area,” said Tyler Hurd, managing director at Wood Partners. “There’s strong demand in St. Petersburg, and this project not only provides modern living options, but also creates spaces that help residents connect with the broader community.”
Alta Roosevelt is situated on 11.56 acres along Roosevelt Boulevard in the Gateway district, just 10 minutes north of downtown St. Petersburg, offering convenient access to major employment hubs and surrounding neighborhoods. Additionally, the site directly abuts the Power Design headquarters campus, a prominent Tampa Bay–based company, which includes a publicly accessible park and trail system, and is located near the Raymond James and Jabil office campuses, two of the region’s largest employers.
The five-story community will feature a mix of one-, two- and three-bedroom apartment layouts. Amenities include a resort-style pool, grilling stations, garden pavilions, a state-of-the-art fitness center and a wellness-focused spa area with a cold plunge and sauna. Residents will also have access to a clubhouse with co-working spaces, a game room, lounges and a golf simulator.
For more information on Wood Partners and its communities, visit https://www.woodpartners.com/.
About Wood Partners
Wood Partners is a national leader in the development and construction of multifamily communities across the United States. The company has been involved in the acquisition and development of more than 115,000 multifamily homes with a combined capitalization of $24 billion. The company currently owns more than 80 properties across the United States, representing approximately 25,000 homes. Headquartered in Atlanta, Wood Partners has offices in 17 major markets across the country. Wood Partners is consistently ranked as one of the five largest multifamily developers in the United States. For more information, visit www.woodpartners.com.
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Addy Kundla
akundla@thewilbertgroup.com
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SOURCE Wood Partners
