Larry Silvestri, Shareholder, Mechanik Nuccio Hearne & Silvestri

July 2026 — Invest: spoke with Larry Silvestri, shareholder at Mechanik Nuccio Hearne & Silvestri, about the growth of St. Petersburg’s real estate market, the legal dynamics shaping development in Tampa Bay, and how his move to the firm strengthens its transactional capabilities. “Florida has a system that allows for growth while also requiring developers to participate in addressing the broader impacts of that growth,” Silvestri said.

What motivated your decision to join the firm, and how does it position the team to expand its capabilities?

My career has followed an interesting path. I began in private practice before moving in-house, first with a retailer and later with development companies. For about 25 years, I served as in-house counsel for organizations focused primarily on the ground-up development of shopping centers. That role exposed me to the full development process, from acquisitions and leasing to entitlements, zoning, and permitting.

When that chapter ended, my wife and I decided to relocate to St. Petersburg to be closer to our son. I started a solo practice focused on transactional real estate work. Over roughly 10 years, I built that practice, concentrating on the types of matters I handled in-house, including commercial leasing, property acquisitions and dispositions, and financing transactions.

As a solo practitioner, though, my scope was naturally limited. While I had deep experience in the transactional side of real estate, I did not have the bandwidth or internal resources to handle areas such as land use, entitlements, zoning, or environmental issues. Those are integral components of many development projects.

Mechanik Nuccio Hearne & Silvestri brings precisely those capabilities. The firm has established practices in land use, environmental law, permitting, and rezoning, which complement the transactional work I focus on. By joining the firm, I gained the ability to collaborate with attorneys who specialize in those areas, creating a more complete platform for serving clients.

The firm also has a strong reputation in the Tampa Bay market. I spent the past decade building my individual practice, but aligning with a respected firm that has been part of the region’s development community for decades offers immediate scale and credibility. The result is a complementary relationship where we can better support existing clients and attract new ones.

From your perspective, what real estate or development trends in St. Petersburg and the broader Tampa Bay region are shaping the type of legal work you are seeing today?

One of the reasons my wife and I chose St. Petersburg was because of the momentum we saw building here. I had been visiting the city for many years. My grandmother retired here when I was young, and my father later did the same. At one time, St. Petersburg was often jokingly referred to as ‘God’s waiting room’, reflecting its reputation as a retirement destination rather than a hub of economic activity.

Over time, that perception changed. When my son moved here in 2006 to attend law school, I began visiting more frequently and noticed a clear shift. The city was evolving into a dynamic, growing community with new businesses, development, and a stronger economic base.

By the time I relocated here in 2016, the growth trajectory was unmistakable. The region was attracting new residents, investment, and a broader mix of industries, including technology and financial services. That growth created a strong environment for transactional real estate work, particularly in leasing, acquisitions, and redevelopment.

Since then, activity has only accelerated. Tampa Bay continues to attract capital and talent from across the country, and that momentum drives ongoing demand for housing, retail, and mixed-use development. For attorneys working in real estate, that translates into a steady stream of deals and opportunities to support both developers and property owners.

What are some of the biggest challenges developers face today when navigating permitting, zoning, and regulatory processes in the region?

Development always involves balancing multiple interests. On one side, developers are trying to bring projects to life that make economic sense. On the other, local governments must ensure that infrastructure and community needs are addressed.

That dynamic can create challenges, particularly when a project introduces density in areas where residents may have concerns about traffic, utilities, or environmental impacts. However, those discussions are a natural part of the development process.

It is often easier to move forward with projects in areas already zoned for density, such as downtown St. Petersburg. In those cases, the framework for development is already in place. When development occurs in previously undeveloped areas, the process can be more complex because the infrastructure and zoning adjustments must be addressed at the same time.

Overall, Florida has a system that allows for growth while also requiring developers to participate in addressing the broader impacts of that growth.

How are rising costs and market pressures reshaping the commercial landscape in St. Petersburg?

One of the realities of a growing city is that success can make certain areas more expensive. In downtown St. Petersburg, rising rents have created challenges for some businesses, particularly smaller operators.

Those changes are a reflection of market forces. As density increases and more residents and visitors come into an area, businesses can generate higher sales per square foot. That increased revenue allows certain concepts to be able to pay higher rents.

But not every business model can do that. When rents rise beyond what a concept can sustain, those businesses often relocate to other parts of the city where occupancy costs are lower.

In many cases, that shift stimulates growth in surrounding districts. Entrepreneurs begin to explore areas that previously might not have seemed attractive. Over time, those districts develop their own identity and economic vitality.

In St. Petersburg, that is already happening. While some of the most prominent retail corridors command premium rents, new restaurants and businesses are emerging in other parts of the city, including areas further west along Central Avenue and nearby districts. The result is an expansion of commercial activity across a wider footprint.

Looking ahead, what are your priorities for your practice and for your role within the firm?

My primary goal is to continue expanding my client base while helping clients navigate transactions with the benefit of my decades of experience. I often say that my experience is deep, but narrow. I cannot and do not want to be everything to everyone, but I know where I add value.

That value is in transactional real estate work. I help landlords and tenants structure commercial leases, assist clients with property acquisitions and dispositions, and guide financing arrangements. Because I have been involved in a wide variety of transactions throughout my career, I can anticipate issues and help structure deals efficiently.

Joining my new firm, Mechanik Nuccio Hearne & Silvestri, allows me to collaborate with colleagues who handle areas outside my core focus. If a client needs litigation support, land use expertise, or environmental guidance, I now have partners within the firm who can provide those services. That is especially important in a market like Pinellas County, where much of the development is really redevelopment and where working with environmental issues can be a significant part of the process.

Another major benefit for me is returning to a team environment. Much of my earlier career was spent working alongside development professionals, finance teams, leasing specialists, and other attorneys. That collaborative approach is something I value greatly.

Joining a larger firm also reduces the administrative burden that comes with running a solo practice. With dedicated support in place, I can spend more time focusing on client work and less time managing operations.

Overall, this move allows me to continue doing the work I enjoy while giving clients access to a broader set of legal capabilities.