9-Story Apartments to Break Ground in Downtown St. Pete This Month

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9-Story Apartments to Break Ground in Downtown St. Pete This Month

Yesterday, St. Pete Rising broke the news of a proposal for a 22-story luxury apartment tower at the former Onyx nightclub site in Downtown St. Pete. Today, directly west of that block, there is another proposal for a 9-story luxury rental building being developed by The NRP Group.

The NRP Group is no stranger to Downtown St. Pete. They also developed Beacon 430, which is one block south of this project. In September 2015, Beacon 430 sold for $84.5 million —  which works out to around $259,000 per apartment at the 324-unit property.

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Feldman Equities is Making Their Mark on Downtown St.Pete

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Feldman Equities is Making Their Mark on Downtown St.Pete

With the hustle and bustle of Downtown St.Pete's residential real estate market, you may never notice the impact that the boom is having on downtown's office market. Over the past few years Feldman Equities, led by CEO Larry Feldman, and their partners, have been making their mark on Downtown St.Pete's office scene by scooping up underperforming office buildings.

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Project: Central & 16th Redevelopment

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Project: Central & 16th Redevelopment

On the western edge of Downtown St. Petersburg lies the appropriately named Edge District, a Florida Main Street Community of shopping, dining, and living. If you haven't explored the Edge District you're missing out, they have a ton of restaurants and cool antique shops. This area has been booming and has become a unique destination.

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Project: ONE St. Petersburg

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Project: ONE St. Petersburg

I'm a little late with this post but nonetheless I'm very excited to tell you about ONE St.Petersburg, a huge new project in the heart of downtown. ONE St.Petersburg will be a 41 story, 253 unit condo tower complemented by a garage and retail base along with a second tower featuring 174 hotel rooms.

The Kolter Group is developing this $120 million project that will likely become St.Petersburg's tallest building.

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Project: USFSP Kate Tiedemann College of Business building

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Project: USFSP Kate Tiedemann College of Business building

From the green benches of  "God's Waiting Room" to the green and gold of the USF Bulls, USF St.Petersburg (USFSP) seems poised to expand it's role on downtown. Over the past few years there has been a lot of change on the small bay front campus including the addition of on-campus housing, a newly constructed student center, and the creation of new campus green space.

But don't expect the projects to stop there. If newly hired Chancellor Sophia Wisniewska has her way USFSP could double its enrollment to 10,000 students by 2024.

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St.Pete "Pocket Projects"

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St.Pete "Pocket Projects"

Pocket parks are small parks that are accessible to the public, but they are usually very tiny in comparison to larger parks (think Central Park). However, despite their size, they can create a network of green space to help enhance neighborhoods and communities. I see smaller real estate developments the same way. These so-called "pocket projects" can enhance urban corridors and revitalize neighborhoods. Because many pocket projects lack the size and scale of larger developments they usually receive less publicity, but I think they are just as important. While there's no definition of what makes a development a "pocket project" I'm going to share a few local developments I would consider pocket projects that you may not have heard about.

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