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‘ARK is impressed by the vision of Shirl Penney and the Dynasty team. building, may relocate to the new development if Dynasty’s proposal is approved. Penney said that ARK, which is currently based a few floors down from Dynasty inside the 200 Central Ave. ARK itself moved its headquarters from New York to St. ‘One of the things we’re hopeful will be exciting to the city is we’re not just building out office space to handle our growth, but we’re building excess capacity to continue to help with broader economic development opportunities.’ĪRK Invest is listed as a potential investor for the proposed development. Some of those we may acquire over time, and as we do, we’re going to need more real estate to consolidate the home office into our headquarters here,’ Penney told Citywire. ‘Dynasty, which is now the largest platform services company for RIAs in the country, has quite a number of resource partners or vendors that we work with. If approved, the project would develop on the lot 60,000-90,000 square feet of Class A office space a 350- to 400-unit multi-family apartment building and 15,000-20,000 square feet of retail space.ĭynasty estimates the project would cost between $140m and $160m to complete.Īccording to Dynasty chief executive Shirl Penney (pictured), the proposal is an effort to construct a headquarters large enough to handle significant growth by Dynasty and its partners over the next several years, as well as an investment in St. South, a few blocks away from Tropicana Field, home of Major League Baseball’s Tampa Bay Rays.
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The proposal indicates Dynasty aims to purchase for $6,250,000 a two-acre plot of land in an opportunity zone at 910 2nd Ave. Petersburg, Fla., to buy a block of undeveloped land for the construction of a new headquarters building and mixed-use project in partnership with Cathie Wood’s ARK Invest. ARK Invest is listed as a potential investor in the mixed-use project, which would include residential and retail space.ĭynasty Financial Partners has submitted a proposal to the city of St. If approved, the project would erect a tower to house headquarters offices for Dynasty as well as Cathie Wood’s ARK Invest.