Major development announced near Tropicana Field

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Developers announced Tuesday they will bring a multi-million dollar project to St. Pete’s fastest-growing neighborhoods.

St. Pete developer Jon LaBudde tells FOX 13’s Dan Matics Miami-based Tricera Capital purchased the Furniture Me Vintage Building and the neighboring lot on the corner of 13th Street and Central Avenue in two transactions valued at just over $7 million. 

LaBudde, who helped secure the deal, tells FOX 13 the first floor of the building would be a food hall, similar to the popular Armature Works in Tampa, with creative office spaces above.

“To the east of the building there's a big parking lot and we are going to do something that's done a little bit through the nation some in Wynwood in Miami and some other big cities," LaBudde said.

The food hall will open up into an air-conditioned, tent-covered venue and pop-up market space featuring a mix of local and national vendors.

LaBudde says there's not yet a timeline for construction and that developers are still trying to clear red tape with the city.

"We've dotted the ‘I’s and crossed the ‘t’s but city staff is kind of pushing us back,” Labudde said.

Mayor Rick Kriseman's office says they are supportive of the concept and are continuing to work with developers. 

Ben Mandell, co-founder of Tricera Capital, tells FOX 13 their development firm is not planning the market place portion of the project.  Mandell wouldn’t comment on future plans for the building or vacant lot.