Oldsmar Is Growing: 3 Major Developments You Need to Know About

Oldsmar has long prided itself on a small-town feel, but big changes are on the horizon. From a brand-new residential community rising on a beloved weekend landmark, to long-overdue road improvements, to townhomes taking shape in the heart of downtown — the city is in the middle of a genuine transformation. And it's no surprise people are taking notice: if you've been wondering why so many people are moving to Oldsmar, these three projects are a big part of the answer. Here's a closer look at the developments every Oldsmar resident should be watching.

1. Alton Oldsmar: 279 Apartments Proposed for Part of the Flea Market Site

If you've spent a Saturday hunting for vintage finds or cheap produce at the Oldsmar Flea Market on Race Track Road, here's an important update — and some reassurance. Kolter Multifamily, a Delray Beach-based developer, has submitted plans to redevelop 13.2 acres of the flea market's 20-acre property at 180 Race Track Road into a 279-unit apartment complex called Alton Oldsmar. Importantly, the flea market remains open on the rest of the site and would not be entirely replaced by this project.

The proposed garden-style community would include five buildings — four four-story structures with 60 units each and a five-story building with 39 units — with most apartments averaging around 960 square feet. The five-story building would also include approximately 674 square feet of ground-floor retail space. Amenities would include a clubhouse with a fitness center and meeting spaces, a swimming pool and hot tub, an open-air pavilion, picnic area, cornhole court, a fenced off-leash dog park, a dog washing station and pet spa, bicycle parking, and a centralized stormwater pond.

What makes this project unusual is how it's moving forward. Kolter filed under Florida's Live Local Act, a state law that requires administrative approval — rather than public hearings or City Council votes — for qualifying multifamily developments where at least 40% of units are designated as workforce housing for residents earning up to 120% of the Area Median Income (AMI). That means the City of Oldsmar has limited authority to block or modify the project if it meets state requirements. As Oldsmar's public communications supervisor put it, if the plan meets the Live Local Act's criteria and local regulations, the project must be approved administratively.

The flea market has been an Oldsmar institution since 1980 and one of Tampa Bay's most beloved weekend destinations — we wrote a full guide to everything that makes the Oldsmar Flea Market special if you want to relive what's at stake. Developer Grady Pridgen purchased the full 20-acre property in 2018 and expanded it into a shopping and entertainment venue with more than 800 vendor booths. In recent years, however, vendors have faced steep rent hikes — some nearly tripling — leaving the market's long-term viability in question even before this proposal emerged.

We've been tracking this story closely. For a deeper dive into whether the flea market can survive at all, check out our post Is It Over for the Oldsmar Flea Market? And if you're one of the many pickleball players who use the courts on that property, you'll definitely want to read What Happens to the Indoor Pickleball Courts if the Oldsmar Flea Market Redevelops?

As of April 2026, the project is in early stages. Kolter has filed an environmental resource permit application with the Southwest Florida Water Management District but has not yet submitted building permits to the City of Oldsmar, and does not yet own the land. This one is still very much in motion.

2. Forest Lakes Blvd Phase III: Finally, Four Lanes All the Way Through

If you've ever gritted your teeth watching traffic bottleneck on Forest Lakes Boulevard, there's good news on the horizon. Pinellas County is moving forward with Phase III of the Forest Lakes Boulevard widening project, which will extend four-lane service along the corridor from SR-580 all the way up to SR-584/Tampa Road — finally completing what has been a long-planned corridor improvement.

A preliminary engineering study conducted between January 2022 and February 2024 concluded that the roadway should be widened to four lanes with a center turn lane. The project will also include sidewalk upgrades, drainage improvements, signalization enhancements, and a rail crossing improvement coordinating with CSX Transportation. Pinellas County held public virtual information meetings in February 2025 to share the latest design details with residents.

This Phase III project completes the picture — connecting Forest Lakes Boulevard to where it was previously widened northeast of Tampa Road in prior phases. It's a cooperatively funded effort involving Pinellas County, the City of Oldsmar, the Florida Department of Transportation, and the Penny for Pinellas fund.

For residents and commuters who use this corridor daily, the widening will mean less congestion and improved traffic flow. If Forest Lakes is part of your daily drive, our Commuting from Oldsmar: Your Guide to Travel in Tampa Bay breaks down all your options — from driving routes to transit and beyond — while you wait for construction to wrap up.

3. Odeon Square: Downtown Townhomes Are Actually Happening

After five years of planning, redesigns, and community discussions, downtown Oldsmar is finally seeing shovels in the ground. Odeon Square, an 82-unit townhome community built by DRB Homes, broke ground in May 2025 on six acres of land adjacent to the Oldsmar Public Library at 510 St. Petersburg Drive East, with homes targeting availability in 2026.

The development features three-story townhomes with two-car garages, offered in four floor plans ranging from 2,259 to 2,828 square feet — all with four bedrooms and three or three-and-a-half bathrooms. Each unit will include balconies and/or porches, and all living spaces are elevated to 16 feet above sea level. That's a meaningful design detail in a community where flood awareness matters — if you're not sure where your property stands, our Flood Zone Guide for Oldsmar is a great place to start.

Of the 82 townhomes, 18 are designed as live-work units — meaning residents can run a small business out of their home in a live/work/play configuration. There will also be a pool, cabanas, greenspace, and a public art installation designed to make the development a genuine community anchor.

Oldsmar Mayor Katie Gannon has spoken enthusiastically about the project's potential to support existing businesses and energize the downtown core. "This project not only adds housing options, but also helps create activity that will support existing businesses and make our downtown more attractive," she said at the May 2025 groundbreaking.

Pinellas County has already issued 11 new construction permits, totaling an estimated $4.9 million in construction value. This is the most concrete sign yet that Oldsmar's long-imagined walkable downtown district is becoming reality.

The Big Picture

Taken together, these three projects signal something important: Oldsmar is entering a new chapter. Whether it's the densification brought by Alton Oldsmar, the infrastructure investment of the Forest Lakes widening, or the community-building vision behind Odeon Square, the city is attracting serious attention from developers and government planners alike.

That growth has real implications for the local real estate market too. If you're thinking about buying or selling in Oldsmar, our Oldsmar Real Estate Market Update for March 2026 has the latest numbers to help you make a smart move.

Growth comes with real questions — about traffic, affordability, neighborhood character, and what gets lost along the way. As these projects develop, Oldsmar Living will keep you informed every step of the way.

Stay connected with OldsmarLiving.com for the latest news on development, real estate, and community events in Oldsmar, Florida.