Shovels may hit the ground in the future for the 49-story Waldorf Astoria Residences in downtown St. Pete, which would become the city's first hotel-branded luxury condominium.

During a Tuesday Development Review Commission meeting, commissioners unanimously approved the site plan, floor area ratio bonuses, and a building height bonus for the massive tower that would rise at 150 2nd Avenue South.

With the new approval of the DRC and recent passing from the City Council acting as the Community Redevelopment Agency, the team will need additional approval from the Federal Aviation Administration (FAA).