UPDATE: This post has been updated to include more recent renderings that were not available when we first published. Note that since the project is still in the permitting and planning stages certain details, such as finishes, are likely to change.
There aren’t many neighborhoods in Tampa Bay that are growing faster than Downtown St. Pete’s booming EDGE District, which is identified as the area around Central Avenue between 9th Street and 16th Street. In the past few months, we’ve witnessed the completion of 930 Central Flats which brought 218 new apartments to the neighborhood, the opening of Green Bench Brewing’s Webb’s City Cellar, which boasts Florida’s largest beer cellar, and just last week we celebrated the grand opening of the new $79 million headquarters for the St. Pete Police Department.
On top of that, the area has also seen the opening of multiple retail shops like Atlas Body + Home, a men’s clothing boutique, and Retrograde Goods, a shop selling locally handmade products. Some businesses, like Kalamazoo Olive Company, which was located closer to the downtown core at 449 Central Avenue, have relocated to the EDGE District. Kalamazoo’s new store opened last Friday at 1010 Central Avenue.
And believe it or not, more is on the way! Recently Gray Space, which is currently located on Dr. MLK Jr Street, announced they are relocating their casual menswear store to the EDGE District’s Central Arcade building at 1114 Central Ave. Also on the horizon is a taco shop and another men’s store. And let’s not forget about the redevelopment of the old Police HQ site.
While the area has seen an explosion of new retail shops, residents, and eateries, there has been no new office space added to the neighborhood. That could soon change with the planned renovation to one of the neighborhood’s most historic buildings.
The building, which houses the Enigma Bar & Lounge, could soon see the renovation of the second and third floors as boutique office space. Located at 1110 Central Avenue and built in 1926, the building originally operated as the Wilmer Hotel and was later renamed to the Carlton Hotel in 1954. Over the years the building has housed an art gallery, a loan company, and even a liquor store. At one point there were even residential units in the building.
In 2014, when Enigma opened on the ground floor, it quickly became a popular spot for St. Pete’s LGBT community. And while Enigma found success, the second and third floors of the building remained vacant, with many of its Central Avenue facing windows boarded up.
The owner of the building is a joint-venture between Tricera Capital, a Miami-based real estate investment firm, and local real estate investor Jonathan Daou. The group is planning major renovations to the building which includes adding all new windows and a new roof. Behind the building, a new exterior stairwell and elevator shaft will be added provide dedicated access to the second and third office space. Once painted, the building will feature bold blue, pink, and yellow accents, reflecting the energy of the surrounding neighborhood.
In total around 6,400 square feet of office space will be available for lease and the owners hope to capitalize on companies’ desire to be in the middle of St. Pete’s thriving EDGE District. Rent is advertised at $22.00/SF, which is well below what you’ll find in some of downtown’s larger Class A office buildings. And while the building has stood for nearly a century, don’t expect it to feel ancient. The plan is for the space to be open-concept with a modern feel, appealing to startups and technology companies. Employees who work in this building will be within walking distance to a numerous shops and restaurants along Central Avenue.
Although 6,400 square feet isn’t a lot of space when compared to the larger office towers in the downtown core, it represents an important step in the continued evolution of the EDGE District into one of St. Petersburg, FL’s most dynamic live-work-play neighborhoods.
For leasing inquiries, please contact Kelley Matheson at Kelley.Matheson@cbre.com.