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Bank branch coming soon to Midtown site

A three-story, full-service, drive-through branch of SunTrust moves toward construction at 2240 18th Ave. S.

By JON WILSON
Published June 28, 2006

ST. PETERSBURG - The long-awaited, much-discussed SunTrust Bank branch in Midtown is a step closer to reality.

A city board earlier this month approved a site plan for a 3,500-square-foot, three-story full-service drive-through at 2240 18th Ave. S.

Details regarding ground-breaking and projected completion date are being worked out, said Roy Binger, SunTrust city president in St. Petersburg.

Once past the hurricane season and into early fall, a likely completion date will come into focus, Binger said.

Meanwhile, the bank branch's progress through the regulatory process represents another step in developing the three major community assets Midtown residents told city officials they wanted in a series of meetings three years ago.

"The big three. Bank, grocery store and post office," said Goliath Davis, deputy mayor for Midtown.

A full-service post office opened in October at 1750 16th St. S. Tangerine Plaza and its Sweetbay supermarket opened in November at 18th Avenue and 22nd Street S.

The bank branch will be on the southwest corner of 18th and 22nd. The corner falls into what is considered a "moderate income" census tract.

The intersection appears on its way to becoming the new nerve center along two of Midtown's major commercial corridors. City government on June 12 asked for developers' proposals to buy and build on 3.6 acres on the southeast corner.

Deadline for those proposals is Aug. 1.

SunTrust will become the first bank branch in the heart of Midtown, Davis said, although financial institutions do business within the target area's technical boundaries of Second Avenue N and 30th Avenue S, between 34th and Fourth Streets.

"If you look at where our branches are located, in the Lakewood area, all the way up on 31st Street and Central, the Maximo branch, when you put that on a map you have a pretty big void in the middle covering our footprint," Binger said.

"Our customers have been going to extreme distances," he said, noting that the new branch will cut their travel time.

Binger cited new development the past few years as positive economic signs for the neighborhood, among them the Bayfront Medical Center partnership with the Johnnie Ruth Clark Health Center, the supermarket, the new Euro-Bake, plans for the Dome Industrial Park, and the projected Job Corps site.

"St. Petersburg College has put its stamp of approval as to education," he said, referring to the college's Midtown Campus on 22nd Street.

He said he expects to see neighborhood housing values to begin rising.

"All of that is what you call the ingredients of a renaissance of a successful community," Binger said.

[Last modified June 28, 2006, 08:13:45]