From stone homes to skylines: Redevelopment bridges St. Pete’s past, future
- Mark Parker
- May 13
- 3 min read
Construction has commenced on The Cade, a boutique condo building that stakeholders believe honors St. Petersburg’s history while representing its ongoing evolution.
St. Petersburg-based Backstreets Capital is behind the approximately $20 million redevelopment and renovation project at 749 Burlington Ave. N. The seven-story building overlooking Mirror Lake will sit behind the historically significant Cade Allen Home.
Backstreets Capital is also restoring the 89-year-old home, built by pioneering builder Cade Allen. Mayor Ken Welch thanked the local development team and city staff for preserving “what’s special about St. Pete and making this project happen” at a groundbreaking ceremony on Tuesday.
“I’m particularly excited about this development because it represents the best of what thoughtful growth in our city can look like,” Welch said. “It blends new development with the preservation of a historic stone home that has stood in this community for almost 90 years.”
The 15-unit, mid-rise tower’s design draws inspiration from its historic neighbor at 250 Mirror Lake Dr. Backstreets Capital demolished the home’s garage to accommodate the redevelopment.
However, the firm is restoring the structure and incorporating salvaged materials, including the original stone, into The Cade’s lobby to create a permanent connection between the neighborhood’s past and present. Manny Leto, executive director of Preserve the ‘Burg, said after the ceremony that the project could “absolutely” serve as a model for other developments.
“This is exactly the kind of project that we love to see,” Leto said of the local nonprofit. “It shows how new development and preservation can work hand-in-hand. And that you can create something that is really unique in the marketplace, that has a real identity and authenticity, while also building something new.”
Backstreets Capital, one of four shortlisted firms vying to reimagine the Historic Gas Plant District, operated from the 4,000-square-foot home for nearly five years. The ranch-style residence was one of the few Allen built outside of the eponymous Allendale Terrace neighborhood.
The home, previously used as an office building, is not listed on any local or national historic registers. Instead, the city classifies it as a contributing structure of the Downtown St. Petersburg Historic District.
Will Conroy, founder and president of Backstreets Capital, noted his firm is bringing the structure “back to life” as a single-family home. He said The Cade will become “the only place in the United States where you have a lake in the foreground of your living room, you have a city skyline, and you have a saltwater bay in your view.”
“So, we truly think Mirror Lake is one-of-one, not only for the charming character, but also for the natural amenities it offers,” Conroy added. “ Mirror Lake is also where my wife’s family settled more than 100 years ago, in 1919. My kids are now fifth-generation St. Petersburg residents, and it all started right here on Mirror Lake.”
Welch told attendees that he was proud of an “all-local team effort.” Participating firms include PLACE Architecture, GSA Contractors, Valin Construction, s.p.a.c.e., and The Wittner Wollman Group.
“I always believe in keeping local dollars local,” Welch told Power Broker Magazine. “But it is also important when you’ve got a fourth-generation St. Petersburg resident - Will Conroy - leading this, who remembers what made St. Pete special.”
Conroy said The Cade’s three-bedroom units were intentionally designed to accommodate current or future full-time residents by offering more space than traditional condominiums. Each floor will feature two or three homes to increase privacy.
Pricing starts at approximately $1.9 million. Welch noted that the project will benefit the local economy, boost the city’s property tax base, and, like all market-rate developments, did not receive any subsidies.
“It’s a better use for property that was ripe for redevelopment,” Welch said of The Cade. “It is high-end, market-rate. But again, we need housing at all levels, and where our dollars go is to subsidize affordable and workforce (units).”
Conroy could not provide a completion date but expects an expedited timeline due to the mid-rise building’s size. “At only seven stories, the constructability is more efficient and cleaner,” he said.
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