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Kolter Group plans to build 41-story condo tower in downtown St. Pete
The Kolter Group, the developer behind the ONE St. Petersburg condo building, plans to deliver another luxury condo product in downtown St. Pete.
The group filed plans in September to build a 41-story condominium tower on a surface parking lot adjacent to the 200 Central office building. The project is currently unnamed.
A rendering of the Kolter’s new 41-story condo tower at 200 Central Ave. The development will have a contemporary style. City of St. Pete documents/ SB Architects.
“We began to work on this earlier this year,” Brian Van Slyke, Regional President of The Kolter Group, told the St. Pete Catalyst in an exclusive interview. “There will not be a physical connection between the 200 Central building and this project [such as a pedestrian bridge], but they will work together.”
The 200 Central building houses the Industrious co-working hub, fintech firm Dynasty Financial Partners and is where Cathie Wood’s ARK Investment Management firm will be located.
The project, estimated to cost roughly $140 million (in today’s market), calls for 248 units on the site that’s currently a parking lot owned by 200 Central. Kolter is under contract to purchase the site.
“Kolter has been a leader in condo development in St. Pete over the last decade. We have unique insight into what condo buyers want,” Val Slyke said, explaining the group wanted to offer a variety of different floorplans and that the site is ideal as it’s situated on Central Avenue and is two blocks from Beach Drive.
The units will be as large as 3,000 square feet and will offer two- to three-bedroom floorplans. The penthouses will be on two floors.
A rendering of the Kolter’s new 41-story condo tower at 200 Central Ave. The facades feature floor-to-ceiling sliding glass doors, green-laminated glass windows and large balconies for the residents. City of St. Pete documents/ SB Architects.
The Kolter Group is working with San Francisco-based SB Architects, which designed Kolter’s 41-story ONE St. Petersburg tower, the Saltaire waterfront condo development and the 18-story Ritz-Carlton Residences.
The project will include co-working space for residents as a large part of the workforce has fully transitioned to the work-from-home model.
The 482-space parking garage will be on levels two through eight. It will be concealed behind textured screens.
The amenities will be on the ninth-floor level and include wellness/fitness spaces, a large pool deck, spa, social spaces, two guest suites, and a game/movie room with a golf simulator.
There will be 6,100 square feet of ground-floor retail space, which will face Central Avenue while the residential entrance will be on 1st Ave. South.
The site plan of Kolter’s new condo tower that shows the different entrances. City of St. Pete documents/ SB Architects.
Smith and Associates Real Estate will act as the brokerage firm for the condo sales and ULA out of Tampa will handle the marketing. The group has not selected a broker for the commercial space.
The Kolter Group expects the site plans to go before the St. Petersburg Development Review Commission in November or December.
The goal is to launch the sales at the start of 2022 and begin construction in the fourth quarter of next year.
A project of this magnitude would typically take two to three years to complete.
john ferguson
November 4, 2021at6:15 pm
I hope their buyers on lower floors realize that their view to the east will not be quite so unobstructed given that BayFront Tower has been omitted from the rendering.
But then San Frsncisco is so far away.
Thinker
October 21, 2021at7:05 am
I’m excited to see this new influx of people,ideas,and needed tax revenues. Just as the generation before us had those who didn’t want change it is necessary and inevitable. It costs more and more to run a City and staying stagnant and creating community spaces are good but only when those who want to have it intend to upkeep it. So many so called community spaces become overgrown with weeds and trash and then an expectation of ..now government needs to keep it clean becomes the mentality. I’m excited to see new big ideas and more people with disposable income coming to St Pete where they will spend money and keep local business thriving. All of these new condo owners will eat, shop, etc in this area bringing money to help local business and their employees make more money and improve their lives.
Bill
October 18, 2021at9:44 pm
How long until the new condo owners start complaining about the noise from the night life and First Friday?? LOL
Kathleen Gray
October 17, 2021at5:57 pm
St Petersburg charm and home town values are gone! The last thing we need is more tall buildings! What we need is a building and rent moratorium ! Families that have lived here for many generations cannot afford to stay! Pinellas county is over built over brought and frankly just ruined ! Freeze the rents now! Put a building moratorium in place today! Stop the rich outsiders and unloyalists from further destroying out sweet homey town!
Lynn
October 17, 2021at3:53 pm
Yuck, continuing to make a once lovely city to a nightmare.
I agree with Sawyer. Can’t mayor and council see what is happening.? Red tide, traffic problem , water and sewer issues,,evicting and displacing
long time residents. So greedy and inhumane!
Shame!
Joey Mingione
October 17, 2021at12:01 am
Not sure why anyone would lament over the loss of a parking lot. Great project in a great location.
Sawyer
October 16, 2021at12:14 pm
What a shame… I am sure the greedy developers will cut down all of those mature oak trees. This space should be for the people and made into a community garden – we need more green space!! Rick Kriseman should step up and stop this project, unless it is 100% dedicated to affordable housing.
Ray
October 15, 2021at5:08 pm
Awesome news, development plan & location on central, will add lovely thick density & fill in skyline nicely making street life more vibrant & lively with ground floor retail. Thank you Kolter for investing in beautiful sunshine city & keep the projects coming.