40 condominiums planned for empty lot in downtown St. Pete
/St. Petersburg and Tampa Bay continue to see high demand for new housing with historically low supply. This demand is why, despite COVID-19 and economic uncertainty, we’ve seen a number of new residential projects launch in downtown St. Pete over the past six months.
The latest project to debut is a proposed condominium building located just three blocks south of Central Avenue in an area which has seen increased interest and development activity in recent years.
Domus Urbana will be located at 644 3rd Avenue South in st. Petersburg, FL.
Domus Urbana will be built at 644 3rd Avenue South on a vacant lot that previously housed an 18-unit three-story apartment building, which was demolished in 2019.
NJR Investment and Development Company, LLC, who developed Regent Lane, a 20-unit townhome community at 145 4th Avenue North, purchased the half-acre site in February 2019 for $2.3 million.
The new five-story condominium building will feature 40 units ranging from 1,158 to 1,650 square feet in two-bedroom and three-bedroom floorplans. Pricing will start in the mid-$300,000’s, which is below most new construction pricing in downtown St. Pete. NJR is dubbing the units “affordable luxury condominiums.”
“We are delighted to offer the patrons of Florida’s gulf coast an opportunity to purchase a new home in Downtown St. Petersburg,” said Neil Rauenhorst, President of NJR. “Domus Urbana represents elegance and style at an attractive price point. For our prospective homebuyers searching for a new home in a walkable neighborhood, this property will be the perfect fit.”
The building will feature a community room as well as a resident patio on the first floor.
Domus Urbana’s name is inspired by Italy. In ancient Rome a “domus” was the type of home occupied by the upper classes. “Urbana” simply means urban in Italian, reflecting the building’s location in downtown St. Pete. Each of the building’s six floor plans are also named after Italian cities and places.
The first floor of the building will largely consist of parking, with 40 vehicular spaces for a ratio of one space per unit, along with a community room, dog park, lobby, and fitness center. The building will also feature 47 bicycle parking spaces. Floors two through five will contain the residential units with 10 units per floor.
The residences at Domus Urbana will have Bosch stainless steel appliances, solid wood white shaker cabinets, quartz countertops, 8-foot windows, 9-foot ceilings, and plank hardwood flooring. Each condominium will also feature at least one balcony with corner units having two.
While Domus Urbana is a relatively modest condominium building compared to high-rise luxury buildings like ONE St. Petersburg and Saltaire, it provides a crucial housing product that has been lacking in downtown St. Pete.
Smaller infill condominium projects help fill the void between townhome developments and high-rise towers. These projects are often more affordable because they are less expensive to build and generally include fewer amenities. Other similar infill condominium projects include The Mirror, which is under construction at 132 Mirror Lake Drive, and The Sapphire, which is proposed for 602 3rd Avenue South.
The first floor parking garage will be accessible via an alley. The building will have 40 parking spaces.
Groundbreaking on Domus Urbana is expected this fall with completion in early 2022. NJR Construction Group, LLC, an affiliate of the developer, will serve as the general contractor for the project.
For more information on Domus Urbana and to view floorplans, visit their website, or call 727-515-5556. A sales center is expected to open in a few weeks at 460 3rd Street North. You can also follow the project on Facebook and Instagram for construction and sales updates.
