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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Downtown St. Pete Development Update - Second Quarter 2016

Downtown St. Pete Development Update - Second Quarter 2016

Construction continued on some of Downtown St. Pete's largest developments during the second quarter of 2016.  Notably, ONE St. Petersburg is now going vertical, renters began moving into AER Apartments, and construction has started on one of DTSP's newest museums, The James Museum of Western and Wildlife Art.  Be sure to check out last quarter's development update to see each project's progression.

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Downtown St. Pete High-rise Condominium Sales Strong but Supply Limited

Downtown St. Pete High-rise Condominium Sales Strong but Supply Limited

It has been asked before and will probably be asked again, β€œCan Downtown St. Pete continue to absorb all of the new residential units under construction?” In the short-term, the answer is yes and, with limited supply, new units are in high demand. 

There are around 1,500 residential units currently under construction in Downtown St. Pete.  Included in this figure are apartment complexes like the soon-to-be completed AER building and The Hermitage along with projects just going vertical like NRP’s new 9-story project just south of the Tampa Bay Times’ headquarters. While developers continue to be bullish on the Downtown St. Pete rental market they also continue to do well in the condo market.

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Project: Bliss Condominiums

Project: Bliss Condominiums

Just announced today, a new condominium tower called Bliss is under development less than a block off of Beach Drive. This project will replace the Buckley Moss gallery and is adjacent to Rowland Place- a 20 unit condo project currently under construction. Bliss will consist of 30 units across 19 stories with most units featuring 3 bedrooms and 2.5 bathrooms and 2,140 square feet of living space. According to this post, prices will start around 

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