Downtown St. Pete Development Update - Second Quarter 2017

Downtown St. Pete Development Update - Second Quarter 2017

This quarter was packed full of groundbreakings!  After over a decade of planning, construction has finally commenced on the new St. Pete pier. Construction crews have started driving piles into Tampa Bay to support the over-water portion of the pier.  It will take 6 months to complete the pile driving process, however construction on the pier deck is scheduled to begin as early as October.

In other groundbreaking news, located on Fourth Avenue North between Third and Fourth streets, the Museum of the American Arts of Crafts Movement site was fenced off this quarter for site preparation.  The $70 million privately funded museum will occupy 137,000 square feet and stand 5 stories tall. The museum will include a 100-seat auditorium, a resource library, a children's education center, a 300-seat upscale restaurant, a cafe, retail store and event space. The expected opening date is May 2019.

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Downtown St. Pete Development Update - Fourth Quarter 2016

Downtown St. Pete Development Update - Fourth Quarter 2016

The fourth quarter of 2016 saw an enormous amount of progress on many of Downtown St. Pete's active developments.  The demolition of the "cheese grater" building at 400 Central Ave concluded.  The Rowdies launched an official campaign to join the MLS, which included an expanded Al Lang Stadium.  A new site plan was approved for 801 Central, which now includes a 15 and 7-story apartment building and ground-level retail.

Also, a few projects broke ground including Bainbridge 930 Central Flats, and retail along 1st Ave S that will house an Orangetheory Fitness and a yet-to-be-determined restaurant.  

Additionally, AER Apartments and The Hermitage Apartment Homes started leasing, which helped to relieve the extremely low apartment occupancy rates that Downtown St. Pete has grown accustomed to over the past few years. 

Looking to the future, we should see the groundbreaking of a few notable projects this coming quarter including The Brownstones, 801 Conway, The District on 9th, and the Museum of the American Arts and Crafts Movement.

Lastly, be sure to check out Downtown St. Pete's first, second, and third quarter development updates of 2016 to see how your favorite projects have progressed!

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Downtown St. Pete Development Update - Third Quarter 2016

Downtown St. Pete Development Update - Third Quarter 2016

Downtown St. Pete has experienced an overabundance of construction over the past three months.  It's nearly impossible to walk through downtown and not run into a construction site.  For starters, the demolition of the "cheese grater" building at 400 Central Ave begun. In the EDGE District, The District on 9th townhouses were announced and the site of Bainbridge 930 Central Flats started to undergo site preparation in anticipation for new apartments and retail.  Also, The Chihuly Collection completed their move from Beach Drive to 720 Central Ave.  We cannot wait for these projects to be complete, but for now we hope you enjoy this quarter's photo update!

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Bainbridge to Bring More Apartments to EDGE District

Bainbridge to Bring More Apartments to EDGE District

β€œIn an urban environment, one of the biggest deterrents of pedestrian traffic is a vacant lot,” says Jonathan Daou, owner of Eastman Equity, a commercial real estate investment firm.  Daou was able to recognize the EDGE District’s potential before its recent explosion in popularity. 

In 2014, he purchased a 1.5 acre plot of land at 930 Central Avenue for $1.7 million with the desire to renovate the vacant, dilapidated parcels and fill the empty lots that permeated the district.  Since then, Daou has amassed a significant portfolio of properties in the EDGE District with plans of turning the area into the most vibrant, pedestrian-friendly neighborhood in Downtown St. Pete. 

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