City council approves 36-unit condo project

A local development firm will soon transform a small vacant lot in downtown St. Petersburg into a five-story condominium building with a parking garage.

At its June 6 meeting, the city council unanimously found NJR Investment and Development Company’s proposal for 357 3^rd St. S. consistent with the Intown Redevelopment Plan. Municipal officials established the initiative in March 1982 to address blight and slum conditions.

The $12 million project, dubbed Aerie on 3^rd, will bring 36 new condominiums to the now-thriving area. Zoning official Corey Malyszka said design elements, including trees, canopies, street furniture and entryways, will meet the scale of the surrounding neighborhood.

In addition to 36 upscale condos, the .34-acre site will house a 24-space enclosed parking garage. The mid-rise building’s first floor will include a lobby, amenity space and bicycle parking.

Aerie’s second through fifth floors will encompass the residential units. Malyszka said the stucco-finished building would feature projected balconies and an “ample amount of glazing.”

The development will not feature a pool or other high-end amenities. The project’s website states it is now under construction, with home prices starting at around $850,000.

Malyszka said Aerie’s architecture is appropriate for the area. St. Petersburg-based NJR will conceal the parking garage behind the primary building.

The development firm previously proposed building Claridge Lane Townhomes on the site, a 15-unit project. While Aerie more than doubles that project’s density, its floor-area ratio (FAR) is still well below the downtown zoning allowance.

The DC-2 zoning district permits a 7.0 FAR. Aerie’s is at 3.69. However, its size is consistent with several surrounding developments.

An overhead view of the .34-acre property at 357 3rd St. S.

Malyszka noted that those include the Madison, which features two five-story buildings on 4^th Avenue South. Urban Landing, directly across 4^th Street from the Aerie site, also encompasses five stories.

Malyszka noted a three-story townhome community sits to the west of the property. The area’s density is also increasing exponentially.

The nearby Sage on 4^th Avenue South encompasses 13 stories. The 18-story Camden Pier District is directly across 3^rd Street South from Aerie.

In January, the city council also found a 25-story hybrid residential and short-term rental unit tower near the intersection of 4^th Street and 4^th Avenue – about a tenth of a mile from Aerie – compatible with the Intown Redevelopment Plan. Several residents opposed the project.

Aerie received no objections at Thursday’s council meeting. Building officials recommended the project’s approval, and council members voted without offering feedback.

“The building design took into consideration the relationship with new developments in the immediate area by creating a continuous street edge, integration of green open space, landscaping and concealing the parking garage,” Malyszka said.

Once construction concludes in late 2025, Aerie will feature one, two and three-bedroom units ranging from 749 to 1,650 square feet. The development will offer residents a small dog park, lounge area and fitness center.

NJR is a known commodity. The firm previously built Domus Urbana, a 40-unit condo building on 3^rd Avenue South, the Regent Lane Townhomes on 4^th Avenue North, and construction is underway on Castille Urbana, another five-story, 40-unit residential project at 600 3^rd Ave. S.