By Olivia Gil
Association office located at 556 Central Avenue. Originally built in 1941, the bank was founded
by three sisters and became known for being operated by and for women.
(Photo By Olivia Gil)
As commercial rent continues to climb and big names buy out small businesses along Central Avenue, mom-and-pop shops are struggling to stay afloat. In recent years, several longtime storefronts have closed, leaving owners questioning whether they will be next, and what asking price would make them turn over their place in the community.
St. Petersburg has recently been labeled as a “boomtown,” with rapid growth driving up commercial rent in downtown. As a result, redevelopment along Central Avenue has changed who can afford to operate in it.
“We’re doing really well here, but not in the way I originally imagined,” said Thomas Lopez, owner of Cultösaurus, a designer toy store on Central Avenue.
Lopez, who has owned the shop for three years, said rising rent and changing customer demand have forced him to shift from a curated shop into one that caters to trends.
“I wanted to show people some cool stuff, and so far I have, but not what I had in mind,” Lopez said. “The things that I wanted to do have become secondary.”
St. Petersburg is known by locals and tourists alike for its artistic and eclectic community, Lopez said, but longtime residents are starting to see a shift in its demographic.
“People come in and buy what they’re comfortable with,” Lopez said. “Weird or niche concepts don’t always survive here unless you adjust.”
St. Petersburg residents say the city’s growth has become a cause for both opportunity and concern.
“I feel like small businesses are what run and support downtown St. Pete,” resident Anastasia Hareas said. “The high-rises are good because the city is growing but small businesses shouldn’t suffer, they should be supported by the influx of new people.”
But not all businesses are viewing the changes as a threat.
Carlos Lopez, owner of RockShop, a fine jewelry store on Central Avenue, has had a front-row seat to the area’s transformation over the past decade.
“In the last 13 years, we’ve seen just a ton of growth. A lot of new, small businesses open. A lot of small businesses close; but overall, we’ve seen just a lot happen on Central,” he said.
While rising costs remain a challenge, Lopez says that redevelopment has brought a welcome energy to the area.
“For some of the older businesses that were just kind of dying out and not keeping up with the times, I think it’s been a good thing,” he said. “It creates more jobs… and brings new life to the block.”
While some businesses are adjusting, others have been forced to downsize or close entirely. TapHouse 61, a bar on Central Avenue, which served locals for over a decade, watched as the city changed around them. On its closing day, hundreds of regulars came out in support; some with custom T-shirts, others with pins and one with a GoFundMe page to help support employees after the bar’s closure.
Despite the ongoing challenges, community support for small businesses still remains strong across the city.
“I think that our business would not be here today or have grown the way it has if St. Pete weren’t so supportive of small businesses,” Lopez said. “That was a big influence on us opening our business here.”
As Central Avenue continues to evolve, many business owners say their futures remain uncertain. And though growth has brought a welcome energy to downtown St. Pete, it also raises the question of who gets to be a part of its future.
Community support may play a crucial role in what comes next, but whether that support is enough to keep local shops alive remains to be seen. For now, the future of Central Avenue relies as heavily on its customers as it does on its cost.
