Interior demolition underway at former Tampa Bay Times building in downtown St. Pete

Demolition has started at the former Tampa Bay Times building at 490 1st Avenue South in downtown St. Petersburg, nearly two years after a construction crane fell into it during Hurricane Milton, St. Pete Rising reported Oct. 9.

For now the work is inside the building. Crews are doing interior, non-structural demolition and asbestos abatement, according to city permit records cited by St. Pete Rising.

From newspaper headquarters to demolition site

1. 1924

   Original Times building constructed; additions followed in 1968 and 1988

2. October 2024

   Crane at Residences at 400 Central strikes upper three floors during Hurricane Milton

3. June 2026

   Stock Development buys the building for $18 million

4. Sept. 18, 2026

   City issues two-phase partial demolition permit

5. October 2026

   Interior demolition and asbestos abatement underway

Source: stpeterising.com

What the city's permit allows

The city approved and issued a partial demolition permit on Sept. 18, split into two phases, according to a city statement reported by St. Pete Rising. Phase one covers interior demolition, asbestos removal and utility disconnections. Before any structural demolition, the developer must secure and cap the building's water, sewer and gas lines and lock out its electrical service.

Phase two is the full structural teardown, along with right-of-way work and site restoration. The city said no additional demolition permit is needed. "The existing permit authorizes work to proceed on both phases, subject to any necessary revisions based on findings during Phase 1," city spokesperson Samantha Bequer said in a statement to St. Pete Rising.

This is an exception to the usual downtown rule. In the city's DC districts, demolishing a principal building generally requires an approved site plan and a complete building permit application. The city is letting this demolition proceed because of the building's unsafe condition.

Why the building is coming down

The complex was deemed unfit and unsafe after the October 2024 crane collapse at the neighboring Residences at 400 Central construction site. The crane struck the building's upper three floors, and the structure was later stabilized through separate permitted work. The property was put up for sale after the damage left it uninhabitable.

The eight-story, 240,000-square-foot complex is three buildings: the original from 1924 and additions from 1968 and 1988. It sits directly across the street from the 46-story Residences at 400 Central, the city's tallest building.

What's planned, and what isn't settled

Naples-based Stock Development bought the Times building in June for $18 million. It also paid $14.5 million for the neighboring Tramor Cafeteria property at 123 4th Street South, giving it 1.8 acres across the two parcels.

The company plans a high-rise condominium tower that could include ground-floor commercial space and offices. The land is zoned DC-1, one of the city's densest designations. But Stock Development has not yet submitted redevelopment plans, and in June company officials said it was too early to discuss branding or specific project details.

The Tramor building, built in 1929 and most recently home to the Hofbräuhaus, will stay. It is designated historic and cannot be demolished. The developer has said it will work with historic preservation officials on how to fold it into the larger project.

What to watch

The next milestone is the move from interior work to structural demolition, which can begin only after the building's water, sewer and gas connections are capped and its electrical service is locked out. The city has said the permit is subject to revisions based on what is found during phase one.