16-story hotel approved to replace 100-year-old storm-damaged building in downtown St. Pete
/An 11-story storm-damaged building in the heart of downtown St. Pete is one step closer to being demolished and redeveloped into a 16-story boutique hotel after receiving its first approval from the city.
St. Pete City Council, meeting as the Community Redevelopment Agency (CRA), found the proposed plan to demolish the 100-year-old building at 300 Central Avenue and construct a 16-story tower with 74 hotel rooms and 4,000 square feet of commercial space consistent with the City’s Intown Redevelopment Plan.
The existing structure, historically known as the Smith Empire Building and called the Coronet 300 since 1966, was constructed in 1924 as a commercial building and later adapted for mixed-use residential purposes in the 1960s. The building is not listed on the Local or National Register of Historic Places.
Local entrepreneur and developer Steve Gianfilippo of Gianco Companies, who purchased the building in 2017, said the vacant structure suffered significant damage from Hurricanes Helene and Milton. Interim repairs will be made to ensure safety while plans for the new hotel are finalized.
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Construction crews have completed demolition of the former UPC Insurance headquarters in downtown St. Pete, clearing the three-acre site for two 31-story apartment towers with 824 apartments and more than 30,000 square feet of retail space.
The 40,000-square-foot office building at 800 2nd Avenue South most recently served as a temporary office for the Tampa Bay Rays after Hurricane Milton damaged Tropicana Field.
UPC Insurance, which once occupied the building as its corporate headquarters, was placed into liquidation in 2023.
St. Pete-based Echelon, in partnership with Third Lake Partners, will develop the $225 million project, which will span more than 1.7 million square feet.
While shorter than the 46-story Residences at 400 Central, the two-tower development will contain more total floor area. At 343 feet, the towers will become the tallest buildings west of 5th Street and rank among downtown St. Pete’s 10 tallest structures.