After an extensive period of speculation and rumor-milling, we’re hearing that famed St. Pete watering hole Georgie’s Alibi will be no more as of Sept. 19.

Our reporter, Aaron Alper, just returned from a phone call with the real estate developer, and it seems that the news is grim. The area’s most notable gay bar will be closing its doors next week so that the plat can be redeveloped into “affordable housing.”

“It is with great sadness and a heavy heart that we announce the rumors are true and Georgie’s Alibi St. Petersburg will cease operations at the close of business on Saturday Sept. 19,” Georgie’s said on their Facebook page. “The real estate and an adjoining parcel have been sold to a developer who plans on building new housing units. We can’t thank the greater St. Petersburg community enough for their support over the past 15 years. Technology and the greater acceptance of alternative lifestyles have impacted the viability of gay venues throughout the country, and The Alibi was not immune to this phenomena. Thank you everyone for 15 wonderful years of memories!”

It may just be the beginning of this kind of LGBT recycling, we’re hearing. Oh, dear. More when we know it.