What Backstreets Capital does

Backstreets Capital, LLC is a private real estate investment and development firm operating as the family office of the Conroy and Sher families, headquartered at 2600 1st Ave N in St. Petersburg, Florida. Founded in late 2014 by Will Conroy and Craig Sher and operating with 1-10 employees, the firm pursues infill real estate development throughout Florida's west coast with a focus on luxury for-sale residential product (condominiums, townhomes, and single-family homes) plus selected mixed-use and urban revitalization projects. Service offerings span the full development lifecycle: development management, project financing, construction management, property acquisition and due diligence, community engagement and stakeholder management, and historic preservation. Revenue is generated through one-time real estate product sales (developer equity realization on completed units), professional services fees for development and construction management, and structured fees tied to project financing arrangements rather than recurring software or subscription revenue.

The firm's project portfolio includes completed assets such as The Salvador (a 13-story, 74-unit condominium completed in 2017), St. James Townhomes (2020), Icaria (a 200+ unit Class A apartment community in Tarpon Springs completed in 2021), Canopy Oaks (2024), and Strum Place (2025), alongside active developments including The Nolen (a 23-story, 31-residence luxury tower over 80% pre-sold), The Cade Residences at Mirror Lake (a 15-residence luxury mid-rise that broke ground in 2026 with 40% pre-contracted), Clemmons Court, and 250 Mirror Lake. Pricing on current product ranges from the $700,000s for Strum Place townhomes to over $2.4 million for half-floor residences at The Nolen. Distribution relies on a direct sales gallery at 600 First Avenue North and an exclusive brokerage arrangement with Smith & Associates Real Estate for residential product. The firm co-develops with a recurring partner network that includes DDA Development, J2 Developers, Canopy Builders, J Browning Design, Momentum Homes, and Place Architecture.

In February 2026 Backstreets, through Foundation Vision Partners and in partnership with Gensler (master planning) and Stantec (engineering), submitted a proposal to the City of St. Petersburg for the 86-acre Historic Gas Plant District redevelopment, with projected public infrastructure costs of approximately $239M across four phases over roughly 20 years and projected total land sale proceeds exceeding $510M. The firm pursues a capital-protection, long-term-partnership investment thesis and has won multiple 2025 regional awards for historic preservation (St. Petersburg Downtown Partnership, Preserve the 'Burg) and as a Top Multifamily Deal (Tampa Bay Business Journal).

Name

Backstreets Capital

Legal name

Backstreets Capital, LLC

Website

https://backstreetscapital.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Backstreets Capital is a private St. Petersburg, Florida family office and infill real estate developer founded in 2014, building luxury for-sale residential and mixed-use projects across Tampa Bay for affluent individual buyers and select municipal partners.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Other Activities Related to Real Estate (53139), New Single-Family Housing Construction (except For-Sale Builders) (236115)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Investors, Nec (6799)

akta.pro primary industry

Luxury & Estate Rentals (THAGANAF)

akta.pro secondary industry

Townhomes & Row Houses (THAMAAAE)

Keywords

• Luxury real estate development
• Mixed-use development
• Development management services
• Construction project financing
• Historic preservation development

Headquarters

HQ city

St. Petersburg

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Others

Revenue model

1. Real Estate Development: Full-service real estate development including residential (condominiums, townhomes, single-family homes) and commercial mixed-use properties. Revenue generated through property sales at completion.
2. Development Management: Full-service development management overseeing all phases from concept through completion, including site acquisition, feasibility analysis, planning, and design coordination.
3. Project Financing: Structuring innovative financing solutions for development projects through extensive network of financial partners including banks, private equity firms, and institutional investors.
4. Construction Management: Construction management services ensuring on-time, on-budget delivery with quality and safety standards.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Backstreets Capital is a family-office real estate investment and development firm that delivers luxury residential, mixed-use, and commercial developments across the Tampa Bay / St. Petersburg area. Its core offering bundles end-to-end real estate development services — development management, project financing, construction management, property acquisition and due diligence, community engagement, and historic preservation — alongside the actual properties produced under those services, including luxury condominium towers (The Nolen, The Salvador, The Cade), townhome communities (St. James, Canopy Oaks, Strum Place), single-family homes (Clemmons Court, 250 Mirror Lake), apartment communities (Icaria), and large-scale master-planned proposals (Historic Gas Plant District).

Product overview

Backstreets Capital is a family office real estate investment and development firm offering a comprehensive suite of services including development management, project financing, construction management, property acquisition, community engagement, and historic preservation. The company's product portfolio comprises residential, commercial, and mixed-use developments throughout Tampa Bay, including luxury condominiums (The Cade, The Nolen, The Salvador), townhome communities (St. James Townhomes, Canopy Oaks, Strum Place), apartment communities (Icaria), and single-family home projects (Clemmons Court). The firm also pursues urban revitalization initiatives such as the Historic Gas Plant District proposal through its affiliate Foundation Vision Partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Management
• Project Financing
• Construction Management
• Property Acquisition and Due Diligence
• Community Engagement and Stakeholder Management
• Historic Preservation
• The Cade
• The Nolen
• The Salvador
• St. James Townhomes
• Canopy Oaks
• Icaria
• 250 Mirror Lake
• Clemmons Court
• Strum Place
• Historic Gas Plant District Proposal

Quantifiable outcome

• The Nolen - 23-story, 288-foot luxury tower among ten tallest buildings in St. Petersburg with 31 residences, over 80% sold
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered flagship, core and minor.

• GenslerflagshipStrategic or Co-development Partner · 2 February 2026Global master planning and design firm partnering with Foundation Vision Partners (led by Will Conroy) for Historic Gas Plant District redevelopment proposal. Provides world-class urban design and master planning expertise.
• StantecflagshipStrategic or Co-development Partner · 2 February 2026Global sustainable engineering and infrastructure firm partnering with Foundation Vision Partners for Historic Gas Plant District. Supporting civil engineering, grant identification, and public infrastructure design.
• Foundation Vision PartnersflagshipStrategic or Co-development Partner · 2 February 2026Development advisory firm led by Will Conroy of Backstreets Capital, Alex Schapira (former Hines Regional Partner), and Anddrikk Frazier of Best Source Consulting. Formed specifically for Historic Gas Plant District redevelopment.
• American Lot HoldingscoreStrategic or Co-development PartnerStrategic partnership for exciting opportunities to collaborate and invest in meaningful work. Partnership approach aimed at deepening relationships by investing in specific projects and corporate structures.
• J2 DeveloperscoreStrategic or Co-development PartnerDevelopment partner for projects including Strum Place mixed-use townhome community. Collaborative relationship focused on long-term partnership versus transaction.
• DDA DevelopmentcoreStrategic or Co-development PartnerLong-standing development partner for major projects including The Nolen luxury condominium tower (23-story, 31 residences), The Salvador condominiums, and Icaria apartment community in Tarpon Springs.
• Canopy BuilderscoreStrategic or Co-development PartnerLuxury home builder partner for single-family residential developments. Partnership since 2020 has executed over $50M in sales in St. Petersburg.
• Osprey CREminorStrategic or Co-development PartnerCommercial real estate partnership for investment and development collaboration.
• J Browning DesigncoreStrategic or Co-development PartnerUltra-high-end luxury home designer partnership specializing in exceptional craftsmanship and unmatched attention to detail for St. Petersburg homes.
• Momentum HomescoreStrategic or Co-development PartnerTampa-based custom home builder partnership for residential developments throughout Tampa Bay area. Over 25 years of combined experience building custom homes.
• Place ArchitecturecoreImplementation/ SI/ Consulting PartnerArchitecture firm leading design for multiple Backstreets projects including The Cade, The Salvador, The Nolen, and Clemmons Court. Fourth collaboration with Backstreets Capital.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Kolter Urban: Florida-based luxury condominium and townhome developer active across South and Central Florida with projects like Kolter Urban's St. Petersburg-area towers; most direct competitor on for-sale luxury mid- and high-rise product.
• DDA Development: Long-standing co-development partner on The Nolen, The Salvador, and Icaria; operates as both peer and partner in luxury residential and Class A multifamily development across Tampa Bay and Florida.
• Two Roads Development: Florida-focused luxury condominium developer (e.g., Residences at 400 Central, Six Fisher Island) competing for the same high-net-worth buyer segment that Backstreets targets in Tampa Bay.
• Property Markets Group (PMG): National luxury condominium developer with active projects in Tampa/St. Petersburg and South Florida; directly comparable on for-sale luxury high-rise product type, unit pricing tiers, and downtown infill strategy.
• BTI Partners: Florida luxury residential developer (e.g., St. Regis Residences, Six Mile Cypress) with comparable scale of infill and high-rise for-sale projects targeting affluent buyers.
• J2 Developers (J Square Developers): Co-development partner on St. James Townhomes and Strum Place; boutique infill developer of townhomes and mixed-use product in downtown St. Petersburg with overlapping project economics and customer base.
• Momentum Homes: Tampa-based custom luxury home builder partnered with Backstreets; serves the same Tampa Bay luxury single-family segment and offers comparable unit economics on bespoke infill homes.
• Canopy Builders: Luxury home builder partner since 2020 responsible for $50M+ in single-family residential sales alongside Backstreets; directly comparable as a luxury infill builder serving the same St. Petersburg buyer.

Broad incumbents

• Related Group: Largest condominium developer in Florida with deep Tampa Bay activity; broader portfolio across luxury, market-rate, and rental, but a primary competitor for premium downtown for-sale residential buyers.
• Toll Brothers: National luxury homebuilder with active Tampa Bay presence and active luxury condo division; competes at the broader high-end residential price point across multiple Tampa Bay submarkets.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/backstreets-capital
• Instagraminstagram.com/backstreets_capital

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Backstreets Capital