29-story condo tower planned for 4th Street South in downtown St. Pete, replacing earlier condotel proposal
/A rendering of the base of the Roche Bobois Residences Tower proposed for the southeast corner of 4th Street South and 4th Avenue South in downtown St. Pete | Gomez vazquez international
A Clearwater-based developer is moving forward with revised plans for a high-rise residential tower in downtown St. Pete, significantly altering a previously approved design.
Valor Capital is seeking city approval to amend its original proposal for the Roche Bobois Residences, a project initially envisioned as a 25-story, 152-unit condotel tower.
The development is slated for the northeast corner of 4th Street South and 4th Avenue South, just two block from the Publix-anchored University Village retail plaza.
The revised plan reimagines the project as a 29-story condominium tower with 165 residential units, 4,103 square feet of commercial space, and 103 parking spaces (83 in a parking garage and 20 surface spaces to the west of the tower).
The residential units will now be sold as traditional condominiums rather than individually owned hotel units. The previously planned Sky Bar has also been removed from the project.
Revised site plan for the Roche Bobois Residences tower in downtown St. Pete | Valor Capital
The revised tower would stand 375 feet tall, 50 feet taller than the original design, and carry a Floor Area Ratio (FAR) of 7.0.
The half-acre site, which comprises three parcels at 332, 340, and 344 4th Street South, is currently occupied by a pair of apartment buildings dating to the 1920s and a four-unit condominium built in 2003. None of the existing structures are historically designated.
The initial plan was approved by City Council last year with conditions that included a 30-day minimum rental requirement for the condotel units and sound restrictions for the rooftop amenity deck. These conditions no longer apply because the units are now expected to be sold as condominiums, not short-term rentals, and the rooftop Sky Deck has been eliminated.
The revised design, still named for luxury French furniture brand Roche Bobois, features a prominent ground-floor layout with a lobby, a 4,000-square-foot restaurant, an 840-square-foot retail space, and an outdoor public arts plaza with lush landscaping and sculptures.
"From the outset we have endeavored to create a one-of-a-kind luxury residential product for Downtown St Pete's skyline. One that catered to clientele who value high design and the desire to live differently," Valor Capital CEO Moises Agami said in a statement. "Our initial demand from investors exceeded expectations and this addition allows us to be able to better serve that demand while continuing our efforts to preserve and enhance the neighborhood's character.”
A rendering of the base of the Roche Bobois Residences tower featuring a public arts plaza | Gomez vazquez international
New renderings of the $70 million project show a fifth-floor amenity deck with a pool and terrace above several levels of structured parking. Residential units, ranging from studios to one-, two-, and three-bedroom layouts and penthouses, would occupy floors 6 through 29.
While the original design included a level of underground parking, Valor Capital has scrapped that plan after determining it was not feasible due to site constraints.
To help meet parking requirements, Valor recently acquired the adjacent property at 322 4th Street South in a $2.125 million deal. The developer plans to demolish the existing residential structure on that site and construct 20 tandem parking spaces exclusively for tower residents.
Vehicle lifts are being considered to increase parking capacity.
"The acquisition of 322 4th Street South is an excellent addition to our project as it allows us to achieve a more ideal project fitting with additional parking capacity, more spacious amenities and retail, additional units for clientele and an overall more seamless project within the urban context of this beautiful and highly walkable neighborhood,” Jorge Fuentes, executive vice president of development at Valor Capital, said in a statement.
A side-by-side comparison of the original 25-story plan for the Roche Bobois Residences Tower (left) and the newly proposed 29-story design (right) | Gomez vazquez international
The development team includes Tampa-based law firm Trenam Law, St. Pete-based landscape architect firm Booth Design Group, architect and interior designer Gomez Vazquez International, structural engineer B&W Structural, MEP engineer Emerald Engineering, and civil engineer George F. Young.
“St. Pete is ready for top luxury urban projects. We looked at beachfront condos and the downtown core and there's nothing like this,” Valor Capital Executive Development Manager Mauricio Lan previously said in a conversation with St. Pete Rising.
The Roche Bobois Residences are expected to break ground in 2026 with a completion in 2028.
In addition to the Roche Bobois Residences, Valor Capital recently completed the 36-unit SkyView condominiums in downtown Clearwater and continues to expand its luxury residential portfolio across the region.
