21-story luxury condo tower approved for former Fit2Run site in downtown St. Pete
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Plans to build a 14-story hotel on a prominent half-acre site in downtown St. Pete have been replaced with a new proposal for a 21-story luxury condominium tower.
The city’s Development Review Services Division this week administratively approved a $60 million condominium project for a 0.53-acre site at 232 and 256 2nd Street North, located across the street from the Sundial shopping center and AMC movie theater.
Proposed by Kolter Group, one of the city’s most prominent high-rise developers, the new tower will feature 62 residences, 7,600 square feet of commercial space for a private membership club, and a 133-space parking garage, more than double the 62 spaces required by code.
Kolter Group bought the property for $7.5 million in late 2021.
The site previously contained a surface parking lot and a nearly 90-year-old building that housed Fit2Run, the running specialty store that relocated to a larger storefront at 801 Central Avenue in 2024.
The Fit2Run building was demolished in March.
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Demolition work has begun at the former Tampa Bay Times building at 490 1st Avenue South in downtown St. Petersburg, nearly two years after a construction crane collapsed into the property during Hurricane Milton.
Crews are currently completing interior, non-structural demolition and asbestos abatement, according to City of St. Petersburg permit records.
The eight-story, 240,000-square-foot complex consists of three buildings, with the original structure built in 1924 and additions completed in 1968 and 1988.
Naples-based Stock Development purchased the former Times building in June for $18 million.
The developer plans to redevelop the site with a high-rise condominium tower that could also include ground-floor commercial space and offices.