A condominium tower proposed for Downtown St. Pete moved one step closer to reality with an important approval from St. Pete City Council. Yesterday afternoon, City Council reviewed the plans for Saltaire, a 35-story condo tower proposed for the parking lot of the Bayfront Hilton Hotel, for consistency with the Intown Redevelopment Plan (IRP).
The Intown Redevelopment Plan is a revitalization plan that was adopted in 1982 in order to facilitate public and private investment in Downtown St. Pete. Simply put, the IRP is a framework for new development in downtown.
Projects of a certain size are required to go before City Council for a vote on whether or not the proposal meets the standards of the plan. It only takes a simple majority to approve of a project. City Council voted unanimously to approve the project as consistent with the IRP.
Saltaire is a 192-unit tower proposed for a 1.77 acre site located at 333 1st Street South. The building is expected to be around 400 feet in height, about 50 feet shorter than Downtown St Pete’s currently tallest building, ONE St Petersburg. The base of the building will consist of a 596-space parking garage which will serve both the condominium residents and guests of the Hilton hotel.
In addition to the condominiums, the building will also feature approximately 9,681 square feet of retail space with two retail spaces along 1st Street South and four retail units along 2nd Street South.
Saltaire is expected to begin ground work preparations later this year and will go vertical in early 2020. Construction is expected to take 30 months to complete, meaning the building will likely not open until early 2022.