In a move that underscores the accelerating transformation of downtown St. Petersburg, ARK Invest, the global investment firm led by renowned investor Cathie Wood, will relocate its headquarters to the 11th floor of Halcyon, a new 11-story office tower expected to begin construction later this year. The firm will occupy 13,000 square feet on the building’s top floor, with the space designed to support its hybrid work model and continued global growth.
ARK’s ongoing commitment to St. Petersburg
Wood moved her investment firm from Manhattan to St. Pete in 2021, initially establishing headquarters in the 200 Central building. The move to Halcyon represents more than just a simple relocation—it’s a doubling down on the city that has become home to one of the most watched names in disruptive innovation investing.
“Our future location at Halcyon will place us at the epicenter of a city we love and surround our employees with world-class amenities, a space designed to meet our needs, and the energy of downtown,” said Cathie Wood, ARK Invest’s founder and CEO. Wood has invested $2 million into the ARK Innovation Center, a 45,000-square-foot startup incubator that opened in December 2023, further demonstrating her commitment to fostering innovation within the Tampa Bay region.
The Halcyon: Downtown’s new trophy tower
The Halcyon represents the first trophy-class office tower to rise in downtown St. Petersburg in more than a generation. The planned 11-story tower will feature ground floor retail and 140,000 square feet of rentable office space, with each office floor offering 13,000 square feet of rentable space. Located at 1301 Central Avenue, the building is a key component of The Central, a 2.1-acre mixed-use development that will also include a 168-room Marriott Autograph Collection hotel, 14,000 square feet of retail space, a 42-unit affordable housing community, and a newly opened 540-space parking garage.
Casey Ellison, CEO of Ellison Development, believes ARK’s presence will attract similar companies to the building and the broader EDGE District. “I think they’ll draw a lot of businesses that want to be in that ecosystem and around that level of excellence,” Ellison told local media. Construction is expected to begin later this year and finish in early 2027.
A broader financial emergence
ARK’s commitment to the Halcyon comes alongside another major financial sector investment in downtown St. Petersburg. Dynasty Financial Partners has signed a 15-year lease to occupy all of 400 Central’s 45,000 square feet of Class A office space. The new Dynasty headquarters will include a private entrance and lobby, a 15,000-square-foot rooftop terrace for special events, and several other custom amenities, with construction slated for completion in November 2026.
Dynasty left New York City for St. Petersburg in 2019 and supports over 500 financial advisors throughout 55 independent firms that collectively manage more than $110 billion in assets. “This is more than a lease; it’s a defining moment in Dynasty’s evolution and is a testament to the remarkable growth of the RIA space,” said Shirl Penney, CEO, president, and founder of Dynasty Financial Partners.
The 515-foot-tall 400 Central tower, which Red Apple Group New York CEO John Catsimatidis Sr. refers to as the “Empire State Building of St. Petersburg,” ranks among the largest new office space transactions in St. Petersburg’s history.
Building a financial hub
The parallel commitments by ARK Invest and Dynasty Financial Partners reflect St. Petersburg’s emergence as a serious contender in the financial services sector. This transformation builds on a rich foundation—St. Petersburg has long been home to financial innovation, most notably as the birthplace of Raymond James, which was founded here in 1962 and remains headquartered in the Tampa Bay area today.
The city’s financial ecosystem extends beyond traditional wealth management into the rapidly growing fintech sector. The USF/Tampa Bay Wave Fintech|X cohort has been instrumental in nurturing financial technology startups, creating a pipeline of innovative companies that complement the established firms choosing to call St. Petersburg home. Adding to this momentum, Webull Corporation relocated its global headquarters from New York to St. Petersburg in 2023, taking over a 157,755-square-foot building in the Carillon business park and employing nearly 150 people locally. This combination of legacy financial institutions, major relocations, and emerging fintech innovation creates a unique environment for financial services growth.
Casey Ellison described ARK as an “incredible corporate citizen” who has embraced St. Petersburg wholeheartedly, supporting numerous civic and cultural programs since its relocation. Mike Swesey, President and CEO of the St. Petersburg Area Economic Development Corporation, called Dynasty the “poster child for the type of company we want to see in the Sunshine City—innovative, growth-forward, and deeply engaged in our community.”
These financial services companies’ presence is not just about office space—it’s about creating an ecosystem that attracts talent, fosters innovation, and positions St. Petersburg as a legitimate alternative to traditional financial centers.
Looking forward
As the Halcyon rises in the EDGE District and ARK Invest prepares for its 2027 move, St. Petersburg’s skyline and economic landscape continue their remarkable transformation. With ARK having already leased about half of Halcyon’s 140,000 square feet and demand described by Casey Ellison as “off the charts,” the building represents both the confidence investors have in St. Petersburg’s future and the city’s ability to attract world-class tenants.
The convergence of innovative companies like ARK Invest and Dynasty Financial Partners in state-of-the-art facilities like the Halcyon and 400 Central signals that St. Petersburg’s financial renaissance is not just a trend—it’s a transformation that’s here to stay. As Cathie Wood noted, they’re positioning themselves “at the epicenter of a city we love,” and that love affair between innovative finance and the Sunshine City shows every sign of deepening in the years ahead.
