36-unit condo building approved for 3rd Street South in downtown St. Pete

A RENDERING OF AERIE ON 3RD, A PROPOSED 36-UNIT CONDO PROJECT | NJR INVESTMENT AND DEVELOPMENT COMPANY

Local real estate firm NJR Investment and Development Company is moving forward with plans for a five-story condominium building at 357 3rd Street South after a unanimous approval by St. Petersburg’s City Council on Thursday.

Named Aerie on 3rd, the 36-unit condo building will rise on a 0.34-acre site across from Camden Pier District. NJR previously proposed a 15-unit townhome community dubbed Claridge Lane Townhomes on the site.

“We’re very excited to be able to give even more people the opportunity to live the downtown experience in St. Petersburg,” said Neil Rauenhorst, CEO of NJR Investment and Development Company.

The condos at Aerie on 3rd will have one-, two-, and three-bedroom layouts, ranging from 749 to 1,650 square feet. The ground floor will include 24 parking spaces and amenities like a small dog park, a fitness center, a lounge area, and storage space.

THE GROUND FLOOR SITE PLAN FOR AERIE ON 3RD | NJR INVESTMENT AND DEVELOPMENT COMPANY

The amenity package doesn't include a pool or other high-end offerings, which significantly lowers the homeowner association dues compared to other condominium buildings in downtown St. Petersburg.

“We’ve worked hard to provide the right mixture of design and amenities, in just the right balance, to offer prices that are lower than expected,” Rauenhorst said.

NJR previously developed Regent Lane, a 20-unit townhome complex at 145 4th Avenue North, and Domus Urbana, a 40-unit condominium project at 644 3rd Avenue South. NJR is also building Castille Urbana, a 40-unit condo project underway at 600 3rd Avenue South.

Construction on Aerie on 3rd is expected to begin later this year with completion in late 2025. Pricing for Aerie on 3rd has not been announced.

For more information on Aerie on 3rd, visit their website.