A well-respected developer from Michigan has unveiled plans to build an 11-story apartment tower just outside of Downtown St. Pete’s trendy EDGE District. DevMar Development is in the process of assembling 1.9 acres of land located at the corner of 16th Street and 1st Avenue North. With the exception of a small car wash, a majority of the land has been sitting vacant for over a decade.
The mixed-use building, dubbed First North Lofts, is a collaboration between Mark DeMaria, CEO of DevMar Development, Jonathan Daou, a local real estate investor, the project’s architects, and local consultants. DeMaria brings over 20 years of multi-family development expertise and Daou contributes his retail experience into this collaborative tailor-made project specifically designed for St. Pete.
The development will be perfectly flanked by two of St. Pete’s most desirable neighborhoods — the EDGE District and the Grand Central District. In either direction, residents will be steps away from hundreds of restaurants, bars, art galleries, and coffee shops.
However, if residents are so inclined, they wouldn’t really have to leave the property. First North Lofts, which DeMaria describes as “an urban resort at an affordable cost”, will provide a wealth of attractive amenities.Read More