400 Central developer Red Apple Group acquires Mirror Lake tower site in downtown St. Pete
/New York-based developer Red Apple Real Estate has closed on the purchase of a 0.94-acre parcel in downtown St. Petersburg.
The acquisition comes weeks after the company told St. Pete Rising it was under contract to purchase the site at 233 5th Street North. The purchase closed on December 13th for $13 million — $200,000 lower than the previously announced price of $13.2 million.
The sellers acquired the property in December 2021 for $15.5 million.
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Plans have been revealed for two 44-story condominium towers at the site of the Hilton St. Petersburg Bayfront, in what would be one of the largest condo developments ever proposed for downtown St. Pete.
Delray Beach-based Kolter Urban recently circulated a site plan application to neighborhood and business associations outlining a $325 million redevelopment of the hotel property at 333 1st Street South.
If built as proposed, the towers would rise up to 509 feet. Only two existing or planned towers in St. Petersburg would be taller: the 515-foot Residences at 400 Central and the 539-foot Waldorf Astoria Residences planned at 150 2nd Avenue South.
The two new towers, which have been designed by 10 Design, would tie for the city’s third-tallest buildings, ahead of the 450-foot Art House and ONE St. Petersburg towers and the 408-foot Saltaire.
The proposal calls for 325 condo units, 17,988 square feet of commercial space, and a 519-space parking garage.
Kolter would also make 207 spaces in the adjacent Saltaire garage available to residents, for a total of 726 parking spaces.