St. Petersburg could best be described as an emerging city. Locals tell stories of how just ten years ago there were no entertainment venues downtown and even the grand Vinoy was boarded up, reputedly home only to pigeons and vagabonds. Nothing could be further from the truth now and the reinvention of the downtown area does not stop there. The real estate market is booming as many speculate that Florida is the new California. Homes on the water whether it be a canal, the bay or the Gulf, have skyrocketed - often quadrupling - in value over just the past few years. Neighborhing homes have enjoyed a more modest but equally impressive gain in value. As St. Petersburg is built out, older homes are frequently being bought and completely renovated or razed to the ground and replaced with more elaborate and modern homes. New businesses springing up along 4th street evidence the transition from an economically depressed city to a more trendy "DINK" ish population. (Double income, no kids).