Developer closes on land for Sky St. Pete tower

The site of a dirt lot and surrounding structures will be redeveloped into a 20-story apartment tower. 

DevMar, which is behind the 11-story Vantage St. Pete apartment building and The Metro underway in the Edge District, has closed on a property for its next project – Sky St. Pete.

DevMar purchased the vacant commercial land at 1624 Burlington Ave. N. from Valrico-based Koterba Investments FL LLC for $4.5 million. The Sky St. Pete tower will consist of 246 apartment units and a 241-space parking garage on several other parcels of land at 1642, 1650 and 1662 along Burlington Avenue North.

A rendering of the main entry for Sky St. Pete. All images: DevMar Development

The city and the St. Petersburg Development Review Commission approved the project last year. 

Construction is scheduled to start this first quarter and will be completed in late 2025.

The site of the $59 million project is one block away from DevMar Development’s Vantage St. Pete apartment building. 

Floors two through five will serve as the parking garage, the sixth floor will have an amenity deck and the 20th floor as well as an outdoor rooftop terrace. The residential units would range from 420-square-foot studio apartments to 1,056-square-foot two-bedroom units. 

The market-rate apartments will be broken up into 103 one-bedroom units, 86 studios, 29 two-bedroom units and 28 two-bedroom units, according to the plans submitted in June. 

The amenities will include a rooftop pool deck with a lounge bar, fire pit and grills on the sixth floor. The 20th floor will have the Sky Lounge and a gaming area, and the first floor will have a coworking center and bike storage.

“We are driven to create this development because we experience firsthand the overwhelming demand for apartment living downtown, in this very type of product,” Mark DeMaria, CEO of DevMar, previously said. “The St. Pete residential units demanded by so many, and they are attracting a highly educated, entrepreneurial, business-minded, arts appreciative, entertainment and dining-attracted class of residents. These residents will help all the businesses, arts, restaurants and entertainment in St. Pete flourish even more.”

DevMar is working in partnership with Michigan-based Fusco, Shaffer and Pappas as the project’s architect in designing the concrete building.