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!
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!
It has been asked before and will probably be asked again, “Can 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.
Just announced today by Smith & Associates Real Estate, the newest condo project in Downtown St. Petersburg will be The Salvador. The announcement of this project is unsurprising given that two other luxury condo projects- Rowland Place and Bliss– have had strong sales.
The Salvador will be a 13 story green certified building housing 74 luxury condo units. This project is being developed by DDA Development along with the MESH architecture group to offer 1 & 2 bedroom units from 964-1810 sqft as well as 3 bedroom, 2500+ sqft penthouse units. The location of this project is just another sign
Popular dessert bar (swah-rey) is opening a second location at 625 Central Ave in Downtown St Pete! 🎉 Check out StPeteRising.com for the full story. #StPeteRising
Downtown St Pete keeps growing! SEVEN projects broke ground this past quarter. Check out the entire downtown development update on StPeteRising.com! ☀️
Lolita's Wine Market is now OPEN in the Grand Central District of Downtown St Pete! In addition to wine, Lolita's also offers food -- charcuterie, small plates, paninis, salads, and more! Check them out at 16 18th St S, right next to Spitfire Theater.