Block party for developers

A so-called super block in downtown St. Petersburg, part of a complicated battle and now agreement between a preservation group and landowners, is open for development.

“We are thrilled to have reached an understanding that we believe benefits everyone,” says Don Mastry, an attorney for First States Investors, one of the key players in the agreement.

The complex, two buildings in the 400 block of Central Avenue, has often been called the cheese grater, for the metal exterior placed on it in the 1960s. In the 1920s, the building was home to the Pheil Hotel and Theater, a St. Pete hotspot. Future potential uses under city development codes for the property, vacant since 2006, include retail, a hotel, office or residential space, plus parking.