28-story apartment tower approved for Exchange Hotel site in downtown St. Pete
/Last week, St. Petersburg’s Development Review Commission approved plans for a 28-story development slated for the site of the Exchange Hotel, formerly known as Hotel Indigo, located at 234 3rd Avenue North.
The plans were filed by Ally MW, LLC, an entity controlled by Ally Capital Group, a Tampa-based investment firm, which is led by Andrew Wright, the founder of Franklin Street.
Ally acquired the Hotel Indigo in 2020 at bankruptcy court for $7.4 million. The property was subsequently renovated into the Exchange Hotel.
Designed by St. Pete-based Behar + Peteranecz, the proposed residential tower will boast 327 units and a 325-space parking garage.
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After nearly three years in the EDGE District, The Sourdough Co. is preparing to relocate to one of downtown St. Pete’s most recognizable historic buildings.
The bakery and café will move from 1113 Central Avenue to the former Union Trust bank building at 895 Central Avenue.
The 1926 building has remained vacant since its last bank tenant left in 1996.
The Sourdough Co. will occupy nearly 11,000 square feet across the building’s ground floor, mezzanine, and basement.
Owner Ariana Duksa announced the move on social media Monday.
“From baking inside our home to filling a historic building in the heart of St. Pete… we can hardly believe we get to say that,” Duksa wrote. “Thank you to every person who has ever purchased a loaf, pastry, coffee or meal from us. From a cottage bakery, to our first storefront, to this beautiful historic bank.”
Before opening its first storefront in 2023, The Sourdough Co. operated as a cottage bakery out of Duksa’s Seminole home.