At St. Pete Rising, we are constantly providing comprehensive coverage on everything new and coming soon to the Sunshine City, but we think it’s also important to take a look back at our city's rich history.

Historically St. Pete, a monthly column on St. Pete Rising written by Executive Director of the St. Petersburg Museum of History Rui Farias, covers everything from the legend of underground mobster tunnels to the buildings and people that created the Sunshine City.

Follow us each month as we explore how these projects shaped St. Pete into the city we know and love today.

This month we explore the amazing history of one of the first towers constructed on Dr. MLK Jr. Street North — the Skyline Building.

Driving south into downtown St. Pete, no matter whether it is on 4th Street North or Dr. MLK Jr. Street North, construction cranes and the city’s next high rise have become a common sight.

Historically located in the business and banking corridors of 4th Street and Central Avenue, the city’s first towers were built in the 1920s reached up to 11 stories and housed financial institutions, corporate offices, and even movie theatres.

But in 1961, the Security Federal Savings and Loan Association broke the mold.

Designed by W.A. Sarmiento, a chief designer for the Bank Building & Equipment Corporation of America, a unique seven-story structure started to take shape at 2600 Dr. MLK Jr. Street North.

Rumored to be inspired by Frank Lloyd Wright's Guggenheim Museum in New York City, the modern architecture was a shock to neighbors whose 1920s and 1930s homes filled the Woodlawn and Crescent Heights communities.

Completed in 1961 at an estimated cost of $900,000, the “Round Bank”, as us locals called it, consisted of a seven-story circular structure that included a main floor lobby enclosed by glass that was attached to an eight-story rectangular mass. The interior circular staircase, called the “horn of plenty” and one of Sarmiento’s design hallmarks, led to a second-floor upper lobby with executive offices.

St. Pete children begged their parents to take them to Security Federal Savings & Loan to open a savings account and receive a model bank of the unusual building that we filled with pennies, nickels, and dimes.

The seventh floor contained the 150-ton air conditioning system – it was rare at the time to put all the mechanical equipment on the roof. The rectangular portion of the building contained the elevators, stairways, and plumbing, which allowed the iconic circular office tower to offer office space that commanded the views out of the horizontal windows.

But it was the sixth floor that garnished the attention of the city, and became a popular spot for special occasions, and of course to impress the family visiting from up north.

Originally the sixth floor was an employee lounge and dining area, but within a year, Bob Prine’s Skyline Room was open for business. Dining on prime rib for $2.50, or fresh snapper stuffed with shrimp and lobster for $2.25, your table had a fantastic view of the Tampa Bay area.

The Skyline Room, known for excellent food, live music, the best martinis in town and magnificent views, became the hot-spot for the jet-setting crowd of St. Pete. The restaurant became so popular, that the return of prime rib to the menu was often announced in the St. Pete Times.

In 1970, the Skyline Room underwent a “continental” renovation. Chandeliers were added throughout the restaurant, plush red fabric covered all the walls, and several French items were added to the menu.

In 1975, famed Times food critic Ruth Gray wrote a scathing review of the restaurant, and by 1976 the Skyline was under new management, and with a new name – Jay Galbraith’s Penthouse Restaurant and Lounge. Fine food for lunch and dinner was the goal, but a larger lounge and new dance floor were added to lure in the disco crowd.

The 1980s brought changes to the building including the departure of Skyline and Penthouse chef Herbie Wright to Raney’s Wedgwood Inn. Tenants also departed, much to the dismay of its creator, Peruvian-born modernist architect W.A. Sarmiento. He designed hundreds of banks in the postwar years of bank modernization in downtowns, and the construction of new suburban bank towers. Sarmiento was active in the preservation of his buildings until his death in 2013.

Most recently home to Grow Financial Credit Union, the futuristic building of 1961 still stands today as a gateway to downtown St. Pete.

Read more stories on St. Petersburg’s rich history here.