May 17, 2016

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

May 17, 2016/ Anthony Close

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.

April 26, 2016

Tampa Bay Times Sells St. Pete Headquarters Building for $19 Million

April 26, 2016/ Anthony Close

After being on the market for over a year, the Tampa Bay Times’ St. Petersburg headquarters building at 490 First Avenue South has sold for $19 million. On Friday, the Times announced Convergent Capital and Denholtz Associates formed a joint venture to buy the 250,000 square foot building.

The eight-story complex spans three buildings the first of which was built in 1924 with additions in 1968 and 1988. The Tampa Bay Times currently occupies around half of the building and will remain in the building under a 15-year lease.

April 11, 2016

Downtown St. Pete Development Update - First Quarter 2016

April 11, 2016/ Brian Zucker

Downtown St. Pete is awash in new developments -- over thirty projects are proposed or under construction. To be honest, it's hard to keep track of it all! Each quarter, we take our bike around the city and snapped some pictures of every active development. The 'Burg was definitely booming in the first quarter of 2016. We can't wait to discover what our beautiful city has in store next quarter!

March 13, 2016

New Townhome Project Liv233 Planned for 4th Ave N

March 13, 2016/ Anthony Close

Residential projects continue to thrive in the Downtown St. Pete market, and as land values in downtown increase developers are continuing to look to smaller parcels of land to feed demand. On and around 4th Ave N developers are continuing to propose luxury small scale residential projects. At 233 4th Ave N a proposed 3 unit four-story townhome development called Liv233 is in the works.

February 27, 2016

801 Conway Residences Destined for Downtown St. Pete

February 27, 2016/ Brian Zucker

The residential boom in Downtown St. Petersburg is showing no signs of slowing down. One more project will add to the 2,000+ residential units that are either under construction or proposed for the downtown area. This summer, construction will begin on 801 Conway, a new 35-unit townhome community located on the corner of Burlington Street and 8th Street North, just four blocks from the bustling Central Avenue. Each residence will range from around 1,300 to 2,200 square feet.

January 27, 2016

Center City Townhomes Add to DTSP's Luxury Townhome Market

January 27, 2016/ Anthony Close

On a lot that would've otherwise gone unnoticed, a new two unit development will soon be under construction. Center City Townhomes, a 3 story luxury townhome development with only 2 units, is proposed for 325 2nd St N. Each unit in this development will be 3 bedrooms with 2.5 bathrooms totaling around 2,700 square feet. Construction should begin this week and prices will start at around $1.2 million.

January 05, 2016

9-Story Apartments to Break Ground in Downtown St. Pete This Month

January 05, 2016/ Anthony Close

Yesterday, St. Pete Rising broke the news of a proposal for a 22-story luxury apartment tower at the former Onyx nightclub site in Downtown St. Pete. Today, directly west of that block, there is another proposal for a 9-story luxury rental building being developed by The NRP Group.

The NRP Group is no stranger to Downtown St. Pete. They also developed Beacon 430, which is one block south of this project. In September 2015, Beacon 430 sold for $84.5 million — which works out to around $259,000 per apartment at the 324-unit property.

January 04, 2016

22-Story Apartment Tower Proposed for Downtown St. Pete

January 04, 2016/ Brian Zucker

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.

August 04, 2015

High Demand Drives Downtown St. Pete Townhome Development

August 04, 2015/ Anthony Close

Over a thousand new residential units will be coming to Downtown St. Pete over the next couple of years. With over 15 developments either under construction or proposed, the combined impact of these projects is creating Tampa Bay’s best community to live, work, and play.

Showing confidence in the Downtown St. Pete market, investor Jeff Craft with NV Holdings is embarking on multiple projects in and around St. Pete’s urban core.

July 06, 2015

Authentic Brownstones Coming to Downtown St. Pete

July 06, 2015/ Brian Zucker

Downtown St. Pete’s newest residential community will bring a bit of northeast charm to the Sunshine City. The Brownstones St Petersburg will pay homage to an architectural style found frequently in cities such as Chicago, Boston, and New York City. Located on the corner of 4th Ave N and 1st St N, these new homes will be only one block away from the popular Beach Dr. and at the site of formerly proposed condo project Maranatha by the Bay.