St. Petersburg Approves $17 Million Development to Restore Historic Cade Allen Home and Build New Condominiums
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St. Petersburg's Development Review Commission has approved a $17 million plan from Backstreets Capital to restore the historic Cade Allen Home and build a new seven-story condominium building, named The Cade, at 250 Mirror Lake Dr. N. This project also includes the construction of a new two-story residence, with the aim of preserving the historical integrity of the site while meeting contemporary housing demands. The existing 87-year-old home, designed by pioneering builder Cade Allen in 1937, will be transformed back into a single-family residence, incorporating original materials and architectural details.
The mid-rise condominium will consist of 18 units and will feature Mediterranean Revival elements to harmonize with neighboring structures. Developer Will Conroy expressed pride in the project, emphasizing the challenges and intricacies involved in restoring the historic home. The city has placed conditions on the development, including a requirement that substantial construction starts by September 2027. Community support has been strong, particularly from local advocacy group Preserve the ‘Burg. Backstreets Capital is now preparing to begin restoration work early next year.