Construction begins on Modera St. Petersburg, a 20-story apartment building in downtown St. Pete
/MODERA ST. PETERSBURG CONSISTS OF A 20-STORY AND AN 8-STORY APARTMENT BUILDING WITH 383 RENTAL UNITS
Construction has begun on Modera St. Petersburg, a 20-story mixed-use apartment building in downtown St. Petersburg.
Modera St. Petersburg is being developed by Mill Creek Residential and will feature 383 rental units and 14,000 square feet of ground-floor retail and restaurant space. The development is located adjacent to Tropicana Field at 201 17th Street South at the intersection of Grand Central District, EDGE District and Warehouse Arts District.
"We're excited to get started on Modera St. Petersburg, which we believe will deliver a quintessential high-rise experience in a vibrant downtown locale," said Damon Kolb, managing director of development in North Florida for Mill Creek Residential. "St. Petersburg continues to be a desirable location due to its vast entertainment and employment options in a walkable and bike-friendly environment.”
Preliminary elevations of Modera St. Petersburg show a colorful facade
The 206-foot building was announced in March 2021 and received approval in June 2021.
Modera St. Petersburg will offer one-, two- and three-bedroom homes with den layouts and penthouses. The community will have a sixth-floor rooftop pool as well as a rooftop deck on the 20th floor. The ground-floor retail space will front the Pinellas Trail.
The project includes an adjacent 475-space parking garage which will include electric vehicle charging station.
Interior finishes include wood plank-style flooring, nine-foot ceilings, built-in shelves and desks in select homes, ceiling fans, private balconies, stainless steel appliances, quartz countertops, tile backsplashes, kitchen islands, USB ports, in-home washers and dryers, walk-in closets and central heating and air with programmable thermostats.
Modera St. Petersburg will be located at 201 17th Street South
Mill Creek purchased the two-acre site in November 2021 for $10.3 million from Tricera Capital and simultaneously closed on an $83.9 million construction loan from PNC Bank. CrossHarbor Capital Partners, a Boston-based alternative investment management firm, is a partner in the project.
"We are enthusiastic about Modera St. Petersburg and our continued partnership with Mill Creek Residential," said Brian Davis, vice president of CrossHarbor Capital Partners. "CrossHarbor looks forward to expanding our portfolio to the St. Petersburg market."
Modera St. Petersburg is Mill Creek Residential’s second project in downtown St. Petersburg, FL after developing Modera Prime 235, now known as Cottonwood Bayview, in 2014. Mill Creek also developed Modera Westshore, now Lantower Westshore, and is wrapping up construction on Modera Tampa in downtown Tampa.
Mill Creek has demolished a 92,248-square-foot warehouse that previously existed on the site and is mobilizing equipment for foundation and site work. Construction on Modera St. Petersburg is expected to be completed in late 2023.
