RISING to new HEIGHTS

St. Pete's housing boom is bringing a new vitality and a changing skyline to downtown living.

BY ANTHONY CLOSE

Over the past five years, St. Petersburg’s real estate market has reached new heights with a surge of new construction that has revitalized neighborhoods and reshaped the housing market.

As one of the Sunshine State’s most popular cities, St. Petersburg boasts a unique blend of traditional charm, a vibrant downtown, artistic and cultural attractions, along with an award-winning waterfront park system that stretches along Tampa Bay. It comes as no surprise that the lifestyle St. Pete offers has led to a surge of demand for new residential units.

Downtown St. Petersburg is the beating heart of St. Pete’s development activity with thousands of new residential units under construction and thousands more on the horizon.

The most significant real estate projects underway are Art House, The Julia, Modera St. Petersburg, The Nolen, The Residences at 400 Central, and Reflection. Add those with recently completed projects like Ascent St. Petersburg, Evo, and Saltaire and you get a rapidly changing skyline.

Here’s a year-end look at the most significant real estate developments in downtown St. Petersburg in 2023, highlighting key projects that have recently taken shape and those poised to make substantial progress in the year ahead.

Ascent St. Petersburg –225 1st Avenue N.

Ascent St. Petersburg (pictured above) is a mixed-use development by Greystar Real Estate Partners that was recently completed. The project contains 357 market rate rental units along with a 172-key AC Hotel by Marriott. The AC Hotel opened in March and was followed by the opening of the apartments in April.

The 36-story building has 8,200 square feet of ground floor retail space, which will be occupied by OLIVIA, a 5,600-square-foot modern Italian restaurant by James Beard nominee Chef Chris Ponte. The AC Hotel features Cane & Barrel, a Cuban-inspired restaurant and bar located on the rooftop terrace.

Art House – 235 1st Avenue S.

Art House is the latest condominium building by Delray Beachbased Kolter Urban, who previously built ONE St. Petersburg, a 42-story condo tower at 100 1st Avenue N., and Saltaire, a 35-story condo tower at 301 1st Street S. Once complete, Art House will soar to 450 feet and will feature 244 units, including 12 penthouse units. The 42-story tower is designed by SB Architects of Coral Gables and will include 6,100 square feet of ground floor retail along Central Avenue and 3rd Street S.

Art House broke ground in mid-2022 and is expected to be completed in 2025. Coastal Construction is serving as the general contractor. Smith & Associates is the exclusive broker for the project and pricing starts in the $900,000’s.

Evo – 334 2nd Avenue S.

Evo is a 24-story apartment building that was recently completed by American Land Ventures. Construction began in March 2021 and the building topped out in 2022 with 220 upscale apartments and over 13,000 square feet of retail space. Evo contains a 10,000 square foot pool deck and over 15,000 square feet of other common areas including a co-working lounge with private offices and a clubroom with exhibition kitchen.

Coastal Construction served as the project’s general contractor. Rental rates start at $2,500 per month.

Modera St. Petersburg – 201 17th Street S.

Modera St. Petersburg is an apartment tower under construction by Mill Creek Residential. The project will feature 383 rental units and 14,098 square feet of ground-floor retail and restaurant space fronting the Pinellas Trail. Construction on the development began in 2022 and topped out in March 2023.

Modera St. Petersburg will offer one-, two- and three-bedroom homes with den layouts and penthouses. The community will have a sixth-floor rooftop pool as well as a rooftop deck on the 20th floor. Completion is expected in 2024. Pricing has not yet been announced.

The Julia – 100 4th Avenue N

The Julia is a 19-story condominium building by the Francis Family and Robert Sherman from MBA development. The boutique condo building will feature 19 condominium residences ranging between 1,905 to 3,132 square feet with two to three bedrooms. The Julia is branded as a vacation condo building which allows owners to rent their condos for a minimum of 30 days, up to 12 times per year, with management provided by Vacasa.

Necour Construction is the general contractor for the development and completion is expected in 2024. Ron Platt at Keller Williams Realty St. Pete is sales broker. Pricing begins at $1.6 million.

The Nolen – 126 4th Ave. NE

The Nolen is a 23-story boutique condominium tower that will feature 31 residences and will be 288 feet tall. The project is being spearheaded by Tampa-based DDA Development, which is led by Bowen Arnold and John Schilling.

In addition to condominium units, the base of The Nolen will feature a three-story parking structure along with a residential lobby and ground floor retail space. Construction on The Nolen began in October 2022 and is expected to be completed in 2024. Ellison Construction is serving as general contractor. Smith & Associates is the exclusive broker for the project and pricing for the remaining units begins at $2 million.

The Residences at 400 Central – 400 Central Ave.

The Residences at 400 Central is a mixed-use condominium tower expected to be completed in 2025. The 46-story tower will include 301 condominium residences ranging from one- to four-bedroom units along with 40,000 square feet of Class A office space, and 60,000 square feet of ground floor retail space.

Foundation work began last year, and the development secured a $252 million construction loan in early 2023. The tower will top out at 515 feet, becoming the tallest building in St. Petersburg and the tallest residential building on Florida’s west coast. The building will also have an exclusive 46th floor Sky Lounge Observatory offering panoramic views of Tampa Bay and the Gulf of Mexico.

Suffolk Construction is the development’s general contractor. The residences are being marketed by Michael Saunders & Company. Pricing starts at $1 million.

Reflection – 300 8th Street N.

Reflection is an 18-story condo tower being developed by HP Capital which is led by Fred Hemmer, Angelo Cappelli, Nick Hansen, and Chris Hemmer. The building will have ground-floor retail and an expansive 12,000 square foot rooftop oasis with a resort style pool, sauna, and spa. The building topped out in September.

KAST Construction is serving as the general contractor for the project. Completion is expected in 2024. The residences are being marketed by KW Developer Services and pricing starts in the $900,000’s.

Saltaire – 301 1st Street S

Saltaire is a 35-story condominium tower that recently opened after breaking ground in April 2020. It features 192 units and 10,000 square feet of retail space fronting 1st Street and 2nd Street. The project was developed by Kolter Urban, who developed ONE St. Petersburg and is also building Art House.

With a height of just over 400 feet, Saltaire is currently the second tallest building in St. Petersburg – only behind ONE St. Petersburg. KAST Construction is the project’s general contractor. Saltaire is sold out.

Belpointe Apartments - 1000 1st Avenue N.

Belpointe is under construction near 1st Avenue North and Dr. MLK. Jr. Street with two 15-story towers and a total of 269 apartments consisting of studio, one, two, and three bedroom units. The project will also include 15,500 square feet of commercial space fronting Baum Avenue and 1st Avenue North.

The base will also have a three-floor, 355-car parking garage. The complex will feature a club room, fitness center, and swimming pool. The development also includes the construction of a pocket park on the east side of the project.

JE Dunn Construction is serving as the project’s general contractor and completion is expected in 2025. Pricing has not been announced.

About the author: Anthony Close is co-owner of St. Pete Rising, an online urban development publication covering retail, restaurants, and real estate news in St. Petersburg, FL. Find it at stpeterising.com

Renderings provided by:

400 Central - Red Apple Group

1000 1st Avenue North - Belpointe OZ

Art House - Kolter Urban

Ascent St. Pete - Greystar

EVO - American Land Ventures

Modera St. Petersburg - Mill Creek Residential

Reflection - Hemmer Group

Saltaire - Kolter Urban

The Julia - Peter Francis and Robert Sherman

The Nolen - DDA Development