Downtown St. Pete Development Update - Second Quarter 2017
/This quarter was packed full of groundbreakings! After over a decade of planning, construction has finally commenced on the new St. Pete pier. Construction crews have started driving piles into Tampa Bay to support the over-water portion of the pier. It will take 6 months to complete the pile driving process, however construction on the pier deck is scheduled to begin as early as October.
In other groundbreaking news, located on Fourth Avenue North between Third and Fourth streets, the Museum of the American Arts of Crafts Movement site was fenced off this quarter for site preparation. The $70 million privately funded museum will occupy 137,000 square feet and stand 5 stories tall. The museum will include a 100-seat auditorium, a resource library, a children's education center, a 300-seat upscale restaurant, a cafe, retail store and event space. The expected opening date is May 2019.
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Pre-leasing is now underway at 3rd & 3rd, a 33-story apartment tower expected to welcome its first residents in mid-December in downtown St. Petersburg.
The 262-unit building is located at 235 3rd Street South across from the Publix-anchored University Village shopping center. Third Lake Partners, along with St. Pete-based developer Echelon, are developing the project.
KAST Construction broke ground on the tower about two years ago.
3rd & 3rd will include one-, two-, three-, and four-bedroom residences, including three four-bedroom penthouses, along with a 330-space parking garage and approximately 15,000 square feet of ground-floor retail space.
One-bedrooms are currently priced from $2,730 to $3,075 a month, while two-bedroom residences start at $4,570 and three-bedroom units start at $8,585.
The development is already 20% reserved, according to Echelon Senior Vice President of Development Cody LeClair.