Belpointe’s VIV Luxury Development Hits 25% Leasing Milestone in St. Petersburg
Belpointe PREP, LLC has announced a key milestone for its luxury development, VIV, in downtown St. Petersburg, Florida. The company revealed that 25% of the residential units have now been leased. This progress comes as the area sees rising demand for high-end housing near jobs, dining, and cultural spots.
In a separate move, Belpointe OZ has filed with the SEC to offer up to $750 million in Class A units. These units represent limited liability interests in the firm’s ongoing projects, including VIV.
VIV began leasing in late 2025, quickly attracting residents drawn to its prime location. The development offers upscale apartments, modern amenities, and retail spaces in a walkable, well-connected area. Its proximity to employment hubs, the waterfront, and entertainment has helped drive steady interest.
Brandon Lacoff, CEO of Belpointe OZ, credited the strong leasing figures to St. Petersburg’s booming rental market. The city’s in-migration and job growth have created a favorable environment for new developments like VIV. The project is part of Belpointe OZ’s broader pipeline, which includes over 2,000 units across four cities, with a total investment exceeding $1.0 billion. The company’s latest SEC filing outlines plans to raise up to $750 million through Class A units. These funds will support ongoing and future developments, reinforcing Belpointe OZ’s expansion in high-growth urban markets.
With a quarter of VIV’s units now leased, the project reflects St. Petersburg’s appeal as a live-work destination. The SEC filing further signals Belpointe OZ’s confidence in its development strategy. The company continues to focus on luxury mixed-use projects in cities with strong economic and demographic trends.
