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Developer’s third condo project downtown nears completion
A St. Petersburg-based development firm has avoided construction delays that have plagued other local projects and is now celebrating a downtown midrise condominium building nearing completion.
NJR Construction Group announced Thursday that Castille Urbana has topped out, and interior work will soon commence. The development at 600 3rd Ave. S. will feature 40 condominiums.
The milestone comes just two weeks after the local developers received city council approval to begin another project a quarter mile from the Castille Urbana site. Natalie Gomez, senior vice president, said it felt “great” to surpass the firm’s self-imposed timeline.
“Our project is under budget, and we’re ahead of schedule,” Gomez told the Catalyst. “And we look forward to delivering an excellent product to all our buyers.”
A rendering of the finished product.
NJR announced plans for Castille Urbana in December 2021. The project broke ground the following spring, and vertical construction began ahead of schedule in August 2023.
Once complete, the development will offer two and three-bedroom floor plans ranging from 1,158 to 1,650 square feet. The 40 condominiums will sit atop a one-story podium that contains the building’s parking garage and lobby.
The development firm touts the five-story project’s “reasonable price points” compared to downtown residential towers. Pricing initially began in the mid-$500,000s.
“We had a few units at the very beginning to kickstart our sales when we launched the project,” Gomez said. “There were a few lucky buyers who were able to buy a unit at Castille in the $500,000s. But currently, our units are all starting in the mid-$700,000s.”
Castille’s amenities include a community room, fitness center and dog run. Residents can also opt for a private electric charging station, and Gomez said move-ins would begin by the end of the year.
The project follows closely on the heels of NJR’s Domus Urbana. That development opened in March 2023 and sold out before the end of 2021.
NJR has found its niche in the area around 3rd Avenue South. Domus is also a five-story condominium building with a nearly identical design and sits just a block from Castille.
In addition, the city council unanimously found NJR’s proposal for 357 3rd St. S. consistent with the Intown Redevelopment Plan. While that $12 million project, dubbed Aerie on 3rd, will look decidedly different than its recent counterparts, it is roughly a half-mile away from Castille.
A rendering of Aerie on 3rd, a 36-unit condominium project in downtown St. Petersburg. Image: Screengrab, city documents.
Aerie will feature 36 condominiums in a five-story building, with home prices starting in the mid-$800,000s. Gomez said the development is now in the permitting phase, and NJR is “always looking for the next opportunity.”
“It’s a great market, and it’s a growing market,” she added. “We see a lot of potential for doing more developments in the downtown St. Pete area because it’s such a great place to live. It’s the perfect place for urban living and the urban lifestyle.”
The firm also built the Regent Lane Townhomes on 4th Avenue North, near Beach Drive. Gomez noted that “all of our projects are within walking distance of our office” at 460 3rd Street N.
NJR once called downtown Tampa home, but company leadership sought to capitalize on opportunities across the bay. Gomez added that the firm values accessibility and “loves” visitors, and representatives will hand out “all kinds of goodies” Saturday before the St. Pete Pride Parade.
“We just see a lot of potential,” Gomez said. “We’re committed to continue building … more, similar projects in the downtown St. Pete area. We just love downtown St. Pete.”
Kadet
June 21, 2024at9:22 am
I’m not complaining about the increase in density and housing stock (the lot was way underutilized before), but I do wish they would at least make these things a little more visually appealing. It basically looks like a giant cinderblock.