At 41 stories, One St. Petersburg will be the city’s tallest structure – rising 75 feet above the next highest building downtown. The project mix includes 253 luxury condominiums, a 174-key Hyatt Hotel and 17,000 square feet of retail space. Set within walking distance of the city’s famed Beach Drive retail district, One St. Petersburg will occupy one of the most central and desirable sites left to develop in downtown St. Petersburg.
One St. Petersburg
Over the years, St. Petersburg has carefully nurtured the development of a vibrant, integrated downtown, with a mix of live, work and entertainment developments existing alongside office and civic spaces within its core. A key component the mix is the development of mixed-use environments like One St. Petersburg. Beginning with city initiatives to preserve the city’s waterfront over a decade ago, city planners planted the seeds for the St. Petersburg’s resurgence as one of the country’s prime waterfront cities. City support and zoning, public and private investment, and an emphasis on civic and mixed-use development have spurred the revitalization of downtown in the years since.
St. Petersburg has been named one of Florida’s most walkable cities. This was a deciding factor for the development team in choosing St. Petersburg. St. Petersburg is “a very compact, walkable, urban environment with a lot of open waterfront and a great park system,” according to Kolter Urban’s Brian Van Slyke. The project will, in turn, bring residents, hotel guests, and valuable retail downtown – adding to the vibrancy that drew them to the city in the first place.
Kolter Urban has already pre-sold over 83% of the units – nearly two years ahead of completion. The two and three-bedroom units start at $600,000, with an average price of $1 million and an average per-square-foot price in the $500s. Prime location at the heart of a desirable, walkable downtown is certainly a factor in the sales success. Unobstructed views of Tampa Bay and the city’s evolving skyline are another.
Stefano Falbo, Vice President and Associate Principal of SB Architects, lead the design team. He factored views into every design decision: “Our design eliminates or minimizes corridor circulation, creating greater living spaces. You can open your entry door and have a glimpse of the spectacular views right where you stand.”
KAST Construction broke ground on One St. Petersburg in May 2016. Construction is scheduled to be completed in 2018.