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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22-Story Apartment Tower Proposed for Downtown St. Pete

22-Story Apartment Tower Proposed for Downtown St. Pete

A new 22-story, 244 unit apartment tower and parking garage is being proposed for a prime location in Downtown St. Pete.  The new residential project will be situated on the north half of the block between 3rd St. S and 4th St. S and 2nd Ave S. and 3rd Ave S. 

Currently, the property is owned by Ken Heretick of Vector Properties and was previously occupied by the crime-ridden Onyx nightclub.  Vector Properties’ portion of the block is under contract to be sold to American Land Ventures of Miami, FL, who will develop the new apartment project. American Land Ventures is currently constructing the 18-story AER Apartments directly across the street from where the new ‘Onyx’ apartments will be built.  The AER Apartments are scheduled to be complete by March 2016.

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