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Development team files plans for Exchange Hotel site

Updated: Sep 8, 2023

New renderings and details have surfaced on plans for an apartment complex that will rise at the site of the Exchange Hotel.

Tampa-based Ally Capital Group has filed a site plan application to redevelop the site of the St. Petersburg hotel at 234 3rd Ave. N. into a 28-story apartment building.

The St. Petersburg Development Review Commission will review the application for the $120 million project during the July 12 board meeting.


Ally Capital is requesting a 7.0-floor area ratio (FAR) and a building height of 330 feet.

Ally Capital is working with local design firm Behar and Peteranecz Architecture.

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