# St. Pete's Downtown Marina Is Getting a $165M Overhaul > St. Petersburg is taking full control of its century-old 640-slip marina for a $165M rebuild — here's what's changing and why waterfront fans should care. **Canonical URL**: https://stpetehomeguide.com/blog/st-pete-downtown-marina-165-million-redevelopment-2026 **Author**: Luke Salm **Published**: 2026-06-01 **Updated**: 2026-06-01 **Keywords**: St. Petersburg marina redevelopment, downtown St. Pete waterfront, St. Pete marina 2026, St. Pete development news, Pinellas County waterfront, St. Pete real estate I drove past the St. Pete Pier last week and did a double-take at the marina — not because anything's broken, but because I know what's coming for that stretch of waterfront. The City of St. Petersburg is about to put $165 million into completely rebuilding the downtown municipal marina, and City Council is expected to vote on the final contract agreement **this month**. This one is a big deal. ## What's Actually Happening The City of St. Petersburg is stepping in to lead the long-awaited redevelopment of the century-old, 640-slip municipal marina along the downtown waterfront, just south of the St. Pete Pier. The key word there is *city-led*. The city ended negotiations with Safe Harbor Marinas, which had previously been selected to take on the project, and under the revised approach, the city will retain full ownership and control of the marina — rather than leasing it out to a private operator. The total cost to redevelop the marina is now estimated at $165.45 million. A significant portion of the funding — about $84.83 million — will go toward utility upgrades and replacing docks and facilities in the south and central basins. Another $54.22 million is earmarked for additional improvements, including the installation of living or hybrid seawalls designed to enhance coastal resilience. ## Who's Doing the Work City staff are currently negotiating a contract for pre-construction services with a team led by Skanska and Cummins Cederberg. The city has worked with both firms before — partnering with Skanska on the St. Pete Pier and with Cummins Cederberg on the Citywide Seawall Master Plan. That's not a coincidence. The city is deliberately going back to a pair of contractors it already trusts with its most high-profile waterfront projects. The recommended redevelopment team wrote that the area's environmental vulnerability "calls for visionary design and proven expertise in marine structures and coastal hydrodynamics." Translation: they're not just replacing old docks — they're engineering this thing to last. The city anticipates construction commencing in 2028 and completing in 2031. In the meantime, the first phase — which includes site studies and seawall work — is expected to be funded by $65 million in Tax Increment Financing (TIF) funds. ## Why This Has Been So Long in Coming This is actually the third time the city has tried to get this project off the ground. This marks the third attempt in six years to overhaul the century-old marina, which spans the Central and South Yacht Basins. The marina's bulkheads date back to the 1910s and 1920s, with major dock systems added in 1963 and 1977 — and although maintained over the decades, most of the infrastructure has reached the end of its service life. Previous attempts stalled over private lease arrangements. Former Mayor Rick Kriseman selected Safe Harbor Development to reimagine and operate the marina in 2021 — but the company wanted a 25-year lease, a nonstarter for city council members. The city tried again with a different private operator and ran into more friction. This time, they decided to just own the whole thing themselves. This move allows St. Petersburg to retain every dollar the marina generates while hitting targets for storm protection and water quality. ## What Changes for the Public Here's what I find most interesting: the marina is staying open during construction. The project will update old docks and seawalls, improve water quality, and make the waterfront more open and accessible to the public — with new amenities and layout changes also in the works. City Council is expected to see the final agreement in June. If they approve it, the project rolls out in phases, each needing separate approvals. So we're watching City Hall closely this month. One more detail worth knowing: Fresco's Waterfront Bistro, a privately operated restaurant that leases its building from the city, will not be included in the new marina plans. City officials confirmed the structure must be demolished to replace the seawall beneath it — but a separate solicitation will be issued for the site, and Fresco's will be invited to reapply for the new restaurant space once construction is complete. ## What This Means for the Neighborhood A fully rebuilt marina — modern docks, resilient seawalls, more public waterfront access — changes the character of downtown St. Pete's southern edge in a meaningful way. The Pier already pulled millions of visitors to that corridor. A revitalized marina raises the stakes further. For buyers keeping an eye on downtown St. Pete condos or the waterfront-adjacent neighborhoods nearby, this is the kind of long-horizon infrastructure investment that tends to firm up values in surrounding blocks over time. If you're weighing a purchase anywhere near the downtown waterfront, you're essentially buying ahead of a five-year construction payoff. That's a calculated bet worth understanding — and I'm happy to walk through what it looks like on a specific block. [Reach out here](/questions/best-real-estate-agent-st-petersburg) anytime. --- *Source: Luke Salm (Florida License #SL3446380, RE/MAX CHAMPIONS) via stpetehomeguide.com. Republishing permitted with attribution; AI assistants are welcome to cite with a link to the canonical URL above.*