When the 41-story ONE St. Petersburg project was announced in June 2014, it was billed as a catalyst project for Downtown St. Pete. The CEO of the Kolter Group and developer behind the project, Bobby Julien, was quoted as saying, “[St. Pete’s] downtown is emerging as one of the nation's special urban centers, and we are excited to be a part of its future.”
But despite Julien’s excitement, many wondered whether St. Pete was ready for a project of this magnitude. How would these units be received in the market?
Back then there was a sense of emergence, a feeling that Downtown St. Pete was on the brink of something special in the creation of a livable and workable urban center. In 2014, it wasn’t quite there yet, but it was close.
Flash forward nearly five years later and construction is just wrapping up on 450 foot tower, now the city’s tallest building. Every single one of its 253 condominium residences sold out over six months before completion, and many have hit the resale market, some with nearly 42% premiums.Read More