35 Story Apartment Tower to Break Ground in Downtown St. Pete

After sitting vacant for over a decade, a long-beleaguered grass lot in the heart of Downtown St. Petersburg will finally be developed.  Construction is scheduled to begin this October on the Halcyon, a 35-story apartment tower located at the corner of 1st Ave N. and 2nd St. N.  A blue banner wrap advertising Manhattan Construction was erected last week on the site.

In 2004, the land was sold to Kessler for $3.3 million with plans to build the Grand Bohemian Hotel and Residences, a swanky $100 million 28-story project that promised a bevy of upscale amenities including a fine art gallery, two gourmet restaurants, and a rooftop pool deck with private cabanas.  However, plans were put on hold during the economic downturn in the late 2000’s.  After years of staling, Kessler was never able to bring their project to fruition.  

The Halcyon site at 225 1st Ave N as seen on 8/12/16

The Halcyon site at 225 1st Ave N as seen on 8/12/16

Then in late September of last year, Kessler sold the vacant block to David A. Mack Properties and Greenfield Partners for $8.75 million with plans to build Halcyon.

Despite having many other apartment projects currently under construction or proposed, Downtown St. Pete still continues to see overwhelming demand for residential units. This parcel represents one of the last large empty blocks available for development in Downtown St. Pete’s urban core.  

On the ground level, the tower will have 8,181 sqft of two-story retail shops and restaurants.  A 486-space parking garage will occupy 5 floors and the remaining 29 stories will house 306 luxury apartments.  Halcyon will top out at 366 feet, just shorter than Priatek Plaza, Downtown St. Pete’s tallest building.  Construction on Halcyon is expected to be complete by December 2018.